I give up

[brushout]

I have thought about this long and hard. Does anyone know what I need to do to completely cash out? I know I will have to pay penalties and tax..Got it. I just want what is left of my money and I will go play somewhere else.

I think I can do better using my TSP money to buy silver, gold and M-4s.

Thanks to anyone that can help. Yes, I know I am a loon, you don't have to tel me any more.

[Show-me]

You can only cash out when you separate.

[poolman]

I have thought about this long and hard. Does anyone know what I need to do to completely cash out? I know I will have to pay penalties and tax..Got it. I just want what is left of my money and I will go play somewhere else.

I think I can do better using my TSP money to buy silver, gold and M-4s.

Thanks to anyone that can help. Yes, I know I am a loon, you don't have to tel me any more.

Tell us your Story.. Then there will be many that can help... :confused:

[budnipper1]

I have thought about this long and hard. Does anyone know what I need to do to completely cash out? I know I will have to pay penalties and tax..Got it. I just want what is left of my money and I will go play somewhere else.

I think I can do better using my TSP money to buy silver, gold and M-4s.

Thanks to anyone that can help. Yes, I know I am a loon, you don't have to tel me any more.


You can only cash out when you separate.

This link explains in-service withdrawal options. Go to the TSP website homepage and paste the link from there.
http://www.tsp.gov/forms/tspbk12.pdf

[brushout]

there is no story to tell. I just want out with whatever is left.

[poolman]

This link explains in-service withdrawal options. Go to the TSP website homepage and paste the link from there.
http://www.tsp.gov/forms/tspbk12.pdf


Does not work for me Budnipper. Just tried it...;)

[brushout]

This link explains in-service withdrawal options. Go to the TSP website homepage and paste the link from there.
http://www.tsp.gov/forms/tspbk12.pdf

After reading, it looks like I will just have to sit here and suffer as I watch our TSP accounts go to zero. I will still have my M-4 to cling to. lol :cool:

[Frixxxx]

After reading, it looks like I will just have to sit here and suffer as I watch our TSP accounts go to zero. I will still have my M-4 to cling to. lol :cool:
brushout, when do you retire?

[budnipper1]

Does not work for me Budnipper. Just tried it...;)

The first time I found it was after I logged on to My Account with the TSP website. Later, after I had signed off, I could still access the pages from the homepage without signing back in. Maybe it was a cookie thing... Did you paste the link in your browser from TSP's homepage? Sorry it didn't work for you. I'm sure you will figure it out. It's a 20 page pdf file booklet about in-service withdrawals.

[poolman]

The first time I found it was after I logged on to My Account with the TSP website. Later, after I had signed off, I could still access the pages from the homepage without signing back in. Maybe it was a cookie thing... Did you paste the link in your browser from TSP's homepage? Sorry it didn't work for you. I'm sure you will figure it out. It's a 20 page pdf file booklet about in-service withdrawals.


got it budnipper, I'm Sorry... :sick:

[ATCJeff]

I have thought about this long and hard. Does anyone know what I need to do to completely cash out? I know I will have to pay penalties and tax..Got it. I just want what is left of my money and I will go play somewhere else.

I think I can do better using my TSP money to buy silver, gold and M-4s.

Thanks to anyone that can help. Yes, I know I am a loon, you don't have to tel me any more.

you have to resign/quit

[Frixxxx]

you have to resign/quit
That's right, you have that 1% going in to your account by default....FERS, gotta love it!

[Show-me]

You can only cash out when you separate.


you have to resign/quit


That's right, you have that 1% going in to your account by default....FERS, gotta love it!

Your stuck with us or your a quitter.:D

[nnuut]

When you reach the age of 59 1/2 you may make a one time
Aged Based Withdrawal:

What are the rules for an age-based withdrawal? http://tsp.gov/resources/top.gif (http://tsp.gov/features/chapter12.html#top)
While you are employed by the Federal Government, you can make a one-time-only withdrawal of all or any portion of your vested account balance if you are 59½ or older. Your request must be for at least $1,000 or for your entire vested account balance (even, if your balance is less than $1,000).
If you make an age-based withdrawal from your account, you will not be eligible for a partial withdrawal (http://tsp.gov/features/chapter13.html#sub2) from that account after you separate from service.
http://tsp.gov/features/chapter12.html#sub1

[eccougar]

How do I request an in-service withdrawal? Return to Top of this Page

Before you apply for an in-service withdrawal, read the booklet TSP In-Service Withdrawals. Use the Account Access section of this Web site or complete Form TSP-75, Age-Based In-Service Withdrawal Request, or Form TSP-76, Financial Hardship In-Service Withdrawal Request (depending on the type of withdrawal you are requesting). Both forms are available from this Web site or from the TSP.

If you have a pending application for another in-service withdrawal, or for a TSP loan, at the time your request is received, your request will not be accepted. Only one request for an in-service withdrawal or a loan is permitted at a time.

If you want to transfer all or any portion of an age-based in-service withdrawal to a traditional IRA, eligible employer plan, or Roth IRA, have your IRA or plan complete the appropriate section of Form TSP-75. There are certain rules and restrictions that apply to Roth IRAs. We Strongly encourage you to consult with a tax advisor regarding your eligibility for, and the consequences of, making a Roth transfer. Financial hardship in-service withdrawals are not eligible to be transferred.

[budnipper1]

after reading, it looks like i will just have to sit here and suffer as i watch our tsp accounts go to zero. I will still have my m-4 to cling to. Lol :cool:


5119

:laugh:

[Rod]

After reading, it looks like I will just have to sit here and suffer as I watch our TSP accounts go to zero. I will still have my M-4 to cling to. lol :cool:

Dude, it'll go back up.

If it's that bad for you, just cash out into (G) until the rebound instead of completely cashing out.

It will rebound, and when it does it's going to be one heckofa ride!

So, just continue to accumulate cash in (G) to prepare for the ride.

[James48843]

brushout-

Believe it or not, you are a good sign. If you are thinking about cashing it all in and going elsewhere, we MUST be near a bottom.


By the way- please keep the muzzle of that M-4 pointed downrange. Too many easy targets here.

Thanks- good luck- it will be back sooner or later. Keep your head down. Thank you for your service.

[fabijo]

If you are thinking about cashing it all in and going elsewhere, we MUST be near a bottom.

I was thinking the same thing!

[FatMoneyClip]

That's right, you have that 1% going in to your account by default....FERS, gotta love it!

Sure you have the default 1%, but you also have matching contributions... So yes, you "gotta love it!"

There is nothing wrong with TSP (OK, except the limit on interfund transfers). What is usually wrong is a TSP participant's fund allocation does not match the participant's tolerance for risk. If you do not have the personality to think of a market downturn as a "sale" than the G fund is your friend.

[tsptalk]

Believe it or not, you are a good sign. If you are thinking about cashing it all in and going elsewhere, we MUST be near a bottom.
This is such a great example of why sentiment surveys are very important to watch. Looking back, brushout made the post on Nov 21 - so far the low of the bear.

It may not be THE low, but at the next buying opportunity low, we'll probably see a similar post.

brushout, this is not about you. If you were thinking that, thousands/millions of others were as well. If you are still watching, see this page ... www.tsptalk.com/sentiment.php (http://www.tsptalk.com/sentiment.php)

Good luck!

[Rod]

This is such a great example of why sentiment surveys are very important to watch. Looking back, brushout made the post on Nov 21 - so far the low of the bear.

It may not be THE low, but at the next buying opportunity low, we'll probably see a similar post.

brushout, this is not about you. If you were thinking that, thousands/millions of others were as well. If you are still watching, see this page ... www.tsptalk.com/sentiment.php (http://www.tsptalk.com/sentiment.php)

Good luck!

Good point, Tom!

[alevin]

This is such a great example of why sentiment surveys are very important to watch. Looking back, brushout made the post on Nov 21 - so far the low of the bear.

It may not be THE low, but at the next buying opportunity low, we'll probably see a similar post.

brushout, this is not about you. If you were thinking that, thousands/millions of others were as well. If you are still watching, see this page ... www.tsptalk.com/sentiment.php (http://www.tsptalk.com/sentiment.php)

Good luck!

The exact same thing crossed my mind when I read brushout's post. I'm still just leery enough tho to wait for the confirming chart signal(s) I'm looking for. Maybe too cautious, maybe not.

[fabijo]

Besides, if you cashed out of a 401K too early, you'd have to pay a hefty tax: 10% early withdrawal plus about 28-30% income tax. That's a lot of ground to attempt to make up. And if you do make up that much, you'd be paying some good capital gains taxes. So, it's looking like you'd need to get something like a 40-50% return just to break even!!

[Rustynutt]

5119

:laugh:



I love that photo, it's just the kind of stuff I buy! :)