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Closing TSP account

By Mike Miles on March 13, 2015 IRA, TSP withdrawal

Q. I am retired LEO, age 57, and I made a partial withdrawal of my TSP for a rollover to an IRA. Will I be able to use the remaining amount for a down payment for a home and close the account? If the withdrawal is not possible, would you provide guidance to obtain funds from the TSP for a down payment?
A. You may withdraw your balance and close your account.

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Mike Miles

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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About the 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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