Minimizing the penalty


Q. I am 70 ½ years old. I have $200,000 in my TSP. What is the best course of action for me, since I do not need any of the money? Can you please provide some advice for minimizing the tax?

A. Make sure that you comply with the minimum distribution requirements to avoid any penalty, which can be severe.


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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 and view his blog at

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