Ask Terry Questions TSP account withdraw

TSP account withdraw

By Terry Savage on March 17, 2015 | Financial Planning / Retirement

I have a TSP account with the government and although I am only 68 I need to start planning what to do when I reach 70 1/2,when I have to withdraw that account. Where should I invest that TSP account?

Terry Says:  For those who are not aware, the TSP refers to a government Thrift Savings Plan, which operates much like a 40l(k) plan in the private sector.  It even has both Roth and Traditional savings options.  It can be rolled into a private IRA — through a direct rollover to a new custodian, such as Fidelity, Vanguard, or T. Rowe Price.  They will handle the transfer for you, so there are no tax consequences.  Then they will offer both investing and withdrawal advice, and calculate your Minimum Required Withdrawal.

Note: there are some differences from civilian retirement plans.  Click this  link to read about the details of rolling over a TSP  or copy this link to your browser:

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