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Penalty for withdrawal?

By Mike Miles on October 12, 2015 annuity

Q. After age 70 1/2 can you withdraw the balance of the money you have in an annuity without penalty? We rolled my husband’s TSP into an annuity after he retired.
A. The answer depends upon the brand and kind of annuity you have. You should ask the person who sold it to you.

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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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