L Fund corresponding to retirement age

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Q. I have often read you stating to put your TSP in the L Fund most closely matching your expected life expectancy if you are not able to analyze the market (which I am not able nor willing to hire someone to do that).
I am a former FERS employee, retired at age 56. I am now 59 and I only have $120,000 in my TSP and hope to wait until age 70 (or just leave it alone for my sons), if possible.
I wondered if the L Fund most matching your life expectancy is suggested for a current employee that is still contributing to TSP, or can that rule still apply to someone like me who has not been able to contribute to TSP since retiring three years ago?
Of course, I would like maximum gains with not too much risk since I don’t have that much in my account. Right now I have my funds in L2020, but wondered if I should move to life expectancy (say in my 80s) of L2040 even though I can’t contribute anymore?

A. Sorry, but I can’t answer your questions responsibly without the proper analysis and understanding. It’s like asking me for a custom suit without allowing me to measure you. You can’t buy off-the-rack and expect a custom fit. It’s one or the other, and you seem to be saying that you don’t want either.

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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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