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Thread: How will you access your money in retirement?

  1. Default How will you access your money in retirement?

    I have a long way to go before I reach retirement but would like some insight into how others who are retired or will be soon are accessing their money. As of now I have a traditional Tsp account so taxes will have to be paid when I start pulling from it. My question is, are people taking their money in a lump sum or letting it continue to grow with interest until the last minute. My grandfather bout a few annuities before he passed which seems like a good idea since it would be a secured growth in interest and would have a set monthly income based on x amount of years you plan on living. Also whats left in them can be accessed by surviving family members. Any input would be greatly appreciated. Thanks

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  3. #2

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
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    Default Re: How will you access your money in retirement?

    I retired in 2012 and I am still in the TSP. Even though we only have two IFT's a month, I feel I have a little better control over my money and it does have low fees. Once I plan on drawing money from my TSP I plan to transfer it to a local investment firm for quicker access if I need additional funds above and beyond my monthly withdrawal. I'm not sold on an annuity yet.
    May the force be with us.

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