TSP Loan? Step Away from the Paperwork...Please
The TSP is a great benefit available to military officers. Loans from TSP not so much.
The TSP is a great benefit available to military officers. Loans from TSP not so much.
In most cases a retired military officer will have to take distributions from his or her retirement accounts when turning 70 1/2. There is a way to avoid this though, if you are still employed when your Required Beginning Date (RBD) occurs.
Many retiring military officers will start a second career. Some of them will be offered a 401(k) that doesn't provide for employer matching. Here are 6 considerations to think about when deciding if you want to participate.
The TSP is a great way for military officers to accumulate wealth. It hasn't been quite as good for distribution. New changes set to go into effect in September of 2019 will change that.
TSP is a good place to save for retirement. But, you want to make sure you keep your beneficiary designations up to date and you need to plan for how to pass the funds on to the beneficiaries, first and second generation, with the lowest possible tax load.
When you deploy to a combat zone, TSP rules change. If you don't understand how they change you could miss a great opportunity.
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