TSP Withdrawals in Retirement | Financial Advisor | Christy Capital Management

Retirement planning often involves assessing various income sources such as federal pensions, Social Security, and personal savings like the Thrift Savings Plan (TSP).
Federal employees have unique opportunities regarding TSP withdrawals, such as penalty-free access if retiring in the year they turn 55 or older.
TSP withdrawals are subject to mandatory federal withholding of 20%, affecting the net amount received.
Required minimum distributions (RMDs) apply to TSP accounts, necessitating careful planning to avoid penalties and manage tax implications.
TSP offers different withdrawal options including lump-sum payments, monthly payments, transfers to IRAs, and annuities, each with its own considerations regarding taxes, control, and flexibility.
NOTE: Retirement Benefits Institute is now Christy Capital Management: See our latest federal-focused articles and resources at christycapital...
The information contained in this video should not be used in any actual transaction without the advice and guidance of a tax or financial professional who is familiar with all the relevant facts. The information contained here is general in nature and is not intended as legal, tax or investment advice. Furthermore, the information contained herein may not be applicable to or suitable for the individuals’ specific circumstances or needs and may require consideration of other matters. RBI is not a broker-dealer, investment advisory firm, insurance company, or agency and does not provide investment or insurance-related advice or recommendations. Brandon Christy, President of RBI, is also president of Christy Capital Management, Inc. (CCM), a registered investment advisor.