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Thread: What to do with TSP

  1. 05-26-2004, 10:06 PM #13
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    tsptalk
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    In your example, the TSP will be 100,000 in the end, then you pay taxes on it (at the same 25% rate that you paid the roth in the beginning). 25% of 100,000 is 75,000, is it not?
    Never thought of it like that. Interesting.

    Q: If I begin to take monthly TSP withdrawals at age 55 following my retirement, am I subject to the IRS pre-age 59.5 "early-withdrawal" penalty? Ed: No. Under one of the exceptions to the 10% penalty, those individuals between 55 and 59.5 who retire from Federal service and commence their TSP withdrawals are not subject to the 10% penalty.
    I think that's what Pete was talking about. The annuity with substantially equal payments.
    Tom
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    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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  2. 05-26-2004, 10:20 PM #14
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    Good work azanon, got a good point about the matching contributions...all Roth contributions are out of our pocket....nothing like free money with TSP...Early withdrawls are also a good point...I've just started Civil Service (2.5 years) but have contributed initially to Traditionals and then Roths since inception...Always thought Roth was the best thing since Viagra, :lGod willing and the creek don't rise I will continue to max out both options. However, the tax liability I would have to agree will be higher down the road then currently ...but on the other hand depending on the amount of money being withdrawn to live on may be at a loweramount and possibly a lower tax bracket if no additional work income is brought in... ABSOLUTELY MIND NUMBING AT THIS POINT.........JUST PRAY TO HIT THE LOTTERY!!!!

    gooooooooooooooooo E-BAY!!!!!!!!!!!!!!
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