TSP lifetime payments


Q. I like the idea of receiving a monthly check for life, with a yearly raise and if I die first, my wife would keep on receiving those checks. However, I wish there was a way I could keep my principle and just be able to withdraw what I needed every month and reinvest the rest back into my principle. I would hopefully like to keep building my principle and be able to pass it on down to my children and even my grandkids. Does this make sense and is it a way I can do this?

A. Yes. You may request monthly withdrawals from you TSP account and change the amount each year.


About Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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