Ask The Experts: Money Matters

By Mike Miles

When to withdraw

Bookmark and Share

Q. I am 61 and plan to retire at the end of this year. I have about $60,000 in the Thrift Savings Plan. Should I withdraw this year or next for a better tax benefit?

A. It’s impossible for me to say, since this will depend upon your tax returns and the tax code for this year and next. In general, however, I recommend that you leave your money in the TSP for as long as possible.

Tags: , , ,

Leave a Reply

PLEASE NOTE! Do not submit ANY questions via the Comments form. Instead, please send your questions directly to fedexperts@federaltimes.com. Questions submitted via the Comments form will NOT be answered!


five + = 6