TSP lump-sum withdrawal


Q. I am a retired Navy captain after 40 years of service. I read with great interest your article in the November 2017 issue of Federal Times titled “TSP Lump-Sum Withdrawal.” I currently have $391,811.74 in my TSP account as of 14 November 2017. On October 27, 2017, I had $392,954.73 in the TSP account. I have seen the amount of TSP goes up and down over the years. I need your advice if I should do a partial or lump-sum withdrawal. I had seen a Navy Federal Credit Union Financial adviser in the past and he was not good at all. PS, I am invested in the G, F, C, S and I Funds, and am 62 years old. Hope all this information will help in your assessment of my situation.

A. I can’t tell you whether or not you should take a partial lump-sum withdrawal from your TSP account now, but nothing in your question indicates that there is any good reason to do it. In general, I recommend that you delay taking any withdrawals from your TSP account until it is necessary.


About 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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