Leaving your Federal Government job? Know this before you go...
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- เผยแพร่เมื่อ 8 ก.ค. 2024
- Are you leaving your federal government job? Here's what you need to know about your TSP (Thrift Savings Plan) retirement account before you leave.
Before you leave federal government service, watch this video to learn your Thrift Savings Plan options. This is especially important if you are leaving prior to retirement age. Learn the pros, cons and takeaways about each of the different TSP choices you can make with your retirement money.
// TOPICS
00:00 Intro
01:22 Will you get all your TSP money? Did you vest?
03:00 What you MUST know about the TSP before you leave
04:33 Option 5 - Annuities (pros, cons, & takeaways)
06:29 Option 4 - TSP Withdrawal (pros, cons & takeaways)
08:17 My Preferred TSP Options 1, 2 & 3 after leaving Federal Government
14:17 What I did with my TSP
//RELATED ARTICLES OR LINKS
+ Leaving Capitol Hill Guide - www.popvox.org/blog/leaving-t...
+ TSP Vesting Schedule - www.tsp.gov/bulletins/15-1/
//MORE RESOURCES
+ Learn about efforts to create an ecosystem of diverse leadership talent in Congress: repdemocracy.org.
//THANK YOUS
This channel was made possible by Democracy Fund Voice. Very grateful for their support!
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//DISCLAIMER
The content on my TH-cam videos and other social media platforms is for educational purposes only and is based on my personal opinion. It's not meant to be investment or professional financial advice. I am not a TSP advisor, financial advisor, certified accountant or a tax professional. You should do your own research and speak to a licensed professional for financial or tax decisions if necessary. Remember that investments involve some form of risk and there is no guarantee that you will be successful in making, saving or investing money; nor is there any guarantee that you won't experience any loss when investing. Also FTC Legal Disclaimer, links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! It's just one more way to support me and my channel so I can continue to provide you with free content each week!
What did you do with your TSP when you left your federal government job?
Thanks for the great information! Much appreciated! 😊
folks , if you are 55 years old or between 55 -59 1/2 transferring your TSP to IRA is A BIG mistake .WHY ???? in TSP Systeme if you are 55 ( AND leaving the government at 55 ) you may take out your money out WITHOUR 10 % penalty, BUT in IRA system you MUST be 59 .5 y/o to avoid 10 % penalty
Thanks for sharing.
thank you so much for this great info!
Hope it helps!
Great advice!
Thanks! Hope it helps ☺️
Retired recently and did a direct rollover to Schwab where I can invest it in various ETF with low fees.
Im 45 with 25years of federal service with DOD and want to get lump sum, but have set up both a traditional & roth Ira until I find a new broker.I want to open a SEP for reopening my side business as a full time.
If we leave federal service but like the TSP better than the new employer's 401k, can we transfer money that accumulates in 401k into the TSP?
Good question! From my understanding, I think the only people who are working for the government can put money into the TSP. So you have to be a current federal government employee in order to roll money in or invest money in.
SEPP is another option
Good subject matter.
I would rather you get to the point.
My question is how do I withdraw it. With out taxes ???
Dude, you literally worked getting paid by taxes extorted from lots of other people, and now you don't want to pay any of it back? How insanely sick, perverted, hypocritical and despicable.