TSP or Social Security

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Q. I plan to retire at 63 or 64, but because I came into the government late (12 years ago) my pension will not be that big. Would it be better to drawn from my TSP and claim Social Security at my full retirement age (66 and 4 months) or claim it at 64 and only withdraw from TSP as needed?

A. Unfortunately, there is no simple answer to your question. It is impossible to determine the best path without knowing a lot more about you, your financial goals, resources and constraints.

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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 fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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