As a federal law enforcement officer your retirement rules are different. It age 50 with 20, any age with 25 years of service but mandatory retirement age 57. You can take withdrawal from TSP age 50 without penalties. Medicare coverage can be delayed without penalties if you carry your health insurance. Life expectancy isn't long. So you're receiving more money for less time. You will likely leave money on the table.
This was a great episode.
Thank you!
As a federal law enforcement officer your retirement rules are different. It age 50 with 20, any age with 25 years of service but mandatory retirement age 57. You can take withdrawal from TSP age 50 without penalties. Medicare coverage can be delayed without penalties if you carry your health insurance. Life expectancy isn't long. So you're receiving more money for less time. You will likely leave money on the table.
Thanks for sharing.
If you were able to contribute the max to your traditional TSP, is the Roth TSP limit combined with that or have another separate limit?
They will be separate. The Traditional IRA and Roth IRA fall under the $7,000 limit. The Traditional TSP and Roth TSP fall under the $23,000 limit.