Browsing: retirement

With the end of another calendar year approaching, it’s a good time to reflect on the events of the past year and to formulate strategy for the year ahead. Over the next few months, the various popular media and anyone involved in personal finance will be publishing stories about new rules and limits, with advice on how to turn these rules to your advantage. The problem with this obsession with detail is that it encourages you, by example, to ignore the big picture. It pretends that everything is equally important and that context is irrelevant to financial decision making.…

Q. I am 62 and plan on retiring in the next few months. My goal is to have $4000 per month after taxes in retirement income. My FERS annuity and Social Security get me to about $4100, pre-tax. I have $350,000 in my TSP. I figure that if I can take out a partial withdrawal of $50,000 for emergency funds and liquidity purposes, stay invested in the G Fund with the remainder, take equal monthly payments of $1300 and meet my post-tax income goal, then my TSP should last at least until I’m 87, when I don’t expect to need it…

Q. I am retiring at the end of January 2016, and I turn 55 in February 2016. I want to make a partial withdrawal from my TSP, then begin monthly payments in the amount of my choosing, beginning in 2017. What forms do I use for this? Since I am retiring, do I have to wait to be notified by TSP?

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