Good information. The only three facts I know are true. I will die. I will be taxed. U-Hauls don't go to cemeteries. I know I won't live forever so i want to be able to enjoy some of that money. Because I can't take it with me. If I can keep my taxes down that would be great.
my recently departed co-worker of many years, Martin C. who was a construction inspector - was a colorful character and he always said "The hearse doesn't have a trailer hitch to take it with you". Unfortunately he was an example of a 65 year old who lived just shy of 2 years past his retirement date. I left a little early at 60 so I'm really trying to figure out withdrawal rate and taxes and the whole gambit. It's more difficult than I ever imagined
@@UnkleAL1962 Everyone is in a different boat financial wise. My goal was just to keep my standard of living. So far so good. I traveled and glad I did as my knees are acting up now. That's what many people don't think about. They will have all this extra retirement money but not realizing your body is getting old and you might not be able to get to enjoy it.
I just retired from air traffic control in April. I still have money in C & S funds and don't plan on withdrawing except to pay off my $50,000 mortgage. Other than that, I plan on leaving it alone for at least a year. Thanks for your videos
Dallen, I enjoy the RUclips videos and content on FedSmith. Was wondering if you can make a video specifically addressing the differences between the traditional TSP funds and the Roth TSP finds? Didn’t see that among your videos, but please send a link if I missed it. Thx.
I'm trying to take out my money at 28 for financial help. I logged onto my account and I have over 20k saved up. How can I do this? It won't let me click the option to request a withdrawal. Any tips?
So, when doing a full withdraw from TSP you will be hit with 20% penalty. What if I decide to roll it over to a Roth IRA, then do a withdraw; how much would I be penalized?
It will depend on how old you are and if you have any Roth TSP money. But if you have all traditional TSP money then you will still have to pay taxes on the entire amount.
Another great video. So many options. I suggest Generational Wealth. Help the next generation. With stipulation. My Dad put $2000 in IRA for me when I was 18-22. Guess how much that is worth now, I am 53. I didnt make really good choices for investments until a few years ago.. I missed out on alot. That said it's around $95k now. Thanks Dad! I have 3 boys and hope to do the same for them. God Is Good.
helpful information - always appreciate your videos (military retiree, not Federal).
Good information. The only three facts I know are true. I will die. I will be taxed. U-Hauls don't go to cemeteries. I know I won't live forever so i want to be able to enjoy some of that money. Because I can't take it with me. If I can keep my taxes down that would be great.
Good point!
my recently departed co-worker of many years, Martin C. who was a construction inspector - was a colorful character and he always said "The hearse doesn't have a trailer hitch to take it with you". Unfortunately he was an example of a 65 year old who lived just shy of 2 years past his retirement date. I left a little early at 60 so I'm really trying to figure out withdrawal rate and taxes and the whole gambit. It's more difficult than I ever imagined
@@UnkleAL1962 Everyone is in a different boat financial wise. My goal was just to keep my standard of living. So far so good. I traveled and glad I did as my knees are acting up now. That's what many people don't think about. They will have all this extra retirement money but not realizing your body is getting old and you might not be able to get to enjoy it.
Thank you Dallen. Very good as always.
My pleasure!
Great stuff I didn't know before.
I just retired from air traffic control in April. I still have money in C & S funds and don't plan on withdrawing except to pay off my $50,000 mortgage. Other than that, I plan on leaving it alone for at least a year. Thanks for your videos
You are very welcome! Have a great day!
Dallen, I enjoy the RUclips videos and content on FedSmith. Was wondering if you can make a video specifically addressing the differences between the traditional TSP funds and the Roth TSP finds? Didn’t see that among your videos, but please send a link if I missed it. Thx.
I'll put it on my list.
Do you think is better to withdraw 55,000 to paid off a mortgage or a general purpose loan?
What if I withdraw my money after my 3 year contract of military of putting in 10% in
Why would RMDs apply to Roth TSP?
Wry good information for investing and managing your tsp in retirement
Glad it was helpful!
So if you have money in G , C, and S fund do you do it 33, 33,33 % ?
Yes, if your money is split evenly between those 3 funds, your money will come out proportionally between all three.
What do those letter funds mean?
I'm trying to take out my money at 28 for financial help. I logged onto my account and I have over 20k saved up. How can I do this? It won't let me click the option to request a withdrawal. Any tips?
I would call the TSP's phone number. They are pretty responsive.
So, when doing a full withdraw from TSP you will be hit with 20% penalty. What if I decide to roll it over to a Roth IRA, then do a withdraw; how much would I be penalized?
It will depend on how old you are and if you have any Roth TSP money. But if you have all traditional TSP money then you will still have to pay taxes on the entire amount.
Another great video. So many options. I suggest Generational Wealth. Help the next generation. With stipulation. My Dad put $2000 in IRA for me when I was 18-22. Guess how much that is worth now, I am 53. I didnt make really good choices for investments until a few years ago.. I missed out on alot. That said it's around $95k now. Thanks Dad!
I have 3 boys and hope to do the same for them. God Is Good.
That is awesome! Thanks for sharing!