A Strategy for Managing the Thrift Savings Plan in Retirement

Well-known CPA and federal retiree, Chris Barfield, has released his 2026 publication of the “Thrift Savings Plan barbell strategy.” The TSP barbell strategy is an approach to protecting retirement income using both safe investments with high-growth investments. The strategy can involve maintaining a few years of living expenses in the G Fund and investing the remainder in equity funds like the C or S Funds, while avoiding sell-offs during market downturns.

While Barfield did not invent the barbell strategy, he has published an annual book about it for several years, The Barbell — A Strategy for Managing the Thrift Savings Plan in Retirement. Barfield recently retired after two decades in federal law enforcement — a FERS Special Category Employee (SCE) — within the Department of Justice. He holds both BS and MS degrees in accounting as well as an active CPA license in the state of Indiana.

Barfield’s popular book aims to address these common questions TSP participants have as they enter the withdrawal phase of their life:

• How do I protect what I’ve built up?
• How do I know how much to take out?
• How often should I take money out?
• When should I start to take money out?
• What if I start taking it out and the market crashes?
• Maybe I should not be in the market anymore?

“The Barbell Strategy: We eliminate the red portion, and keep the greens.” Source: Barfield Financial.

The book (68-page PDF) includes detailed explanations of what the TSP investment options are, and how one might allocate their funds when they are in retirement. It also illustrates the strategy by using a fictional character who retired from federal service in December of 2017 — tracking his TSP account in real-time using actual TSP returns.

NOTE: Barfield is not recommending this strategy, or giving financial, investment or tax advice of any kind. In the preface of the book, Barfield explains that the publication “is meant to be a thorough explanation of how someone could employ The Barbell Strategy in conjunction with their TSP and IRA, or other account, were that person so inclined. It is in your best interest to talk with a professional about this strategy to see if it is right for you and your particular financial situation. I’m not recruiting any followers here.”