Roll over to an outside IRA
Partial withdrawal
Monthly Payments based on your specified dollar
Monthly payments based on IRS Life Expectancy
Just leave it with TSP until 70 years old
Not sure yet
Annuity
Other options not mentioned above
So there IS an option 3....starve to death! Not sure if that isn't the only option with such low resources. Curious why the severe limitations?
Anyway, I guess I would have to go along with DBA...Option 2, take the SS and keep building the TSP. But this also depends on other variables that were not, or could not, be specified. Is the reason work is not an option because of medical reasons? Will TSP be invested in equities? Will the market cooperate with future plans? Etc.
Then again...what do I know? I only got a 66% on the da*n retirement quiz!!
There are 10 types of people in the world. Those who know binary, and those that don't!!
Retired on December 31, 2018!!
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
I guess at 430 am, nothing much exciting going on in this website.
but I thought the other side of the world is just getting ready to sleep? Or awake?
Guam is ahead of us - any tsptalkers from Guam?
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
I still have 50% exposure. I almost moved to G yesterday, but today if the S funds go up,I will definitely move to G. I haven't met my monthly goal of 1% a month
MC,
Obviously, you Guys are putting a lot of thought into your upcoming retirement “Plan” ! That’s a good thing ! Your various posts on your “situation” have got me thinking...
A few comments/points stand out, in my mind :
- You now have your Agency’s estimate of your bennies...use that for all your future planning !
- Have you looked closely at what an estimate of your “routine” monthly expenses will be, after you retire ? They DO change ! ...and don’t forget about taxes !!! I assume your numbers are “gross” ? I’m not talking about the world tour...heck...that’s what “retirement” is for !
- Downsizing house and relocating is probably a great move ! If you have a lot of equity in the “old” house, that’ll be a good chunk of change ! ...but what’s wrong with hurricanes ??? There’s a lot to be said about relocating to FL.
- What about your “estate planning” ? None of us want to outlive our money...OTOH, if you don’t live that long, where do you want the left-over money to go ??? FERS annuity and SS can help out the surviving spouse, but where will your TSP balance go when you're BOTH gone ? This is an issue that the Wife and I are struggling with right now...
Soooo....my vote is for Option #2 : Take the SS money and run, at age 62 (IF you need it all !) Lot's of other variables, though, as USCFH noted !
Just my 2 cents !!!
Stoplight...
"Too old to rock and roll...too young to die"... - I. Anderson
Hi Stoplight, I definitely agree with you. I have been thinking about downsizing the house and eventually moving to a County with lower property taxes. Makes a lot of sense. No need to keep paying high taxes and staying in a neighborhood with great schools--- the tax costs are definitely a premium that would be nicely spent on traveling and doing fun stuff!
Oh I can think of lots of benefactors for your left over money! lol Actually, I immediately thought of your niece. But I am sure there are several relative s that would appreciate some help once its all said and done. Take care!... and best wishes on your retirement and your investments!!! DBAnnie
P.S. Live long and prosper!
Don't take my comments as trading advice /IFT: 2-13-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
I will update this once I have the time to type the results from TSP calculator.
if I die before spouse, spouse will get my partial FERS annuity, but how does it work with SS benefits?
scenario1. I claim at 62 and spouse defers SS and I die before 66 or any age
scenario2. Both claim at 62 and of us die before 66 or any age
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
You are on the money, SL. I should start recording our daily/monthly expenses for the next 6-8 months before we really submit our retirement papers. We only see the obvious monthly bills, like cable, cell phone, utilities, car insurance, etc. i guess we never paid attention to the $5 here and $10 there. And my vet bills...
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
Someone has been digging into my past....
#1
Emotions should never play a role in one's investing strategy!
No to Greed...No to Fear!
http://share.robinhood.com/mariloc1
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