My husband has a traditional IRA through his Thrift Saving Plan through his work. He is contributing 5% automatically from his paycheck which they match. I don’t work but am going to open a Roth IRA account and contribute to it. Does his traditional IRA through work count as his or can he open another one through a brokerage too? Just trying to max out these before we move on to other accounts.
The “i” in IRA stands for “individual”. So I’m pretty sure your husband doesn’t have an IRA, he probably has a Traditional TSP, which he can contribute up to $19,500 per year.
You both are also (likely) eligible to open your own Roth IRAs and contribute up to $6,000 each per year.
Take a look at this checklist. It sounds like your husband is just doing #1 (TSP is like a 401k for government workers), but you should both also be doing #3! If he can invest more than his 5% through work and more than the $6K into his Roth IRA, he can contribute even more to his TSP!