Author 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 and view his blog at

Q. I plan to retire on December 31, 2018, with 33-plus years of service. I am 58 years old and will be eligible to receive the Social Security supplement until age 62. If I draw down a portion of my TSP upon my retirement as lump sum, will that be considered regular income for me for the year and will offset my supplement? Say I draw down $50,000 or more as a lump sum, will I lose my supplement for that year (2019)?

Q. I currently am a GS employee and have a TSP residential loan; however, I may be transferring to an Overseas NAF job. Does anyone know if I can continue to pay on my TSP loan or do I have to pay it back to avoid penalties? I know NAF is federal but unsure about the TSP aspects. 

Q. My husband has money in a retirement account that is not in the TSP. When we retire would we be able to just draw down his accounts and leave my TSP account alone? While his account is good, the TSP is, as you know, a great vehicle to save / invest money. His retirement accounts and mine our about the same: $450,000 in each. We are planning on retiring at 60 and delay collecting Social Security till 70 years of age. My husband is 58 and I am 57. While I know how to save, I’m not sure how…

Q. I’m a 71-year-old DAC who will be retiring in June 2019. Presently, I have $1,045,000 in the TSP. When I retire, I will have the following other sources of annual income: military retirement ~$37,000 annual (w/SBP option); Social Security ~$29,000; FERS annuity $29,000 (s/100% option, which is half); and my TSP (wife is beneficiary). My wife is 55 years old retired DAC with an annual annuity of ~$14,000. She also have $450,000 in her TSP account. She will be receiving at age 56 a Social Security supplement of ~$9,000 until the age of 62.  With the differences in my wife…

Q. Why can’t I reasonably expect 5 percent average return over a 30- or 40-year period on a TSP portfolio consisting of 43 percent C, 21 percent I, 6 percent S, 23 percent G, 7 percent F? Let’s assume modest fixed payment withdrawals of 2-3 percent over that 30- to 40-year time frame. I’m 55 and retired.

Q. I am considering retirement in 2020, when I will have 33 years of service and reached minimum retirement age. I have approximately $750,000 in my TSP account. Would it be a good idea to put $250,000 in the L Income fund, $250,000 in the L2030 and $250,000 in the L2040 fund? I would use the L income money in the first 10 years, the L2030 in the next 10 years and the L2040 after that.

Q. Please explain how much money you need to take out of TSP when you turn 70½. I heard that if you have $100,000 in there you need to take out $1,000 and if you have $200,000 in there it’s $8,000. Is there a table or guidance on this? I am trying to understand the process so I don’t get penalized with taxes.

Q. I plan on working in federal service for roughly 22 more years. I contribute enough to the TSP to max out the matching contribution. I read somewhere that it would be a good idea to direct the rest of my savings to an outside Roth IRA with a company like Vanguard so that I have more investment choices for my after-tax dollars. Good idea?

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