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.
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.
As a newly commissioned military officer controlling your financial affairs is important for your personal life. Consider using this advice to start making sound money decisions that will set you up for long-term future success.
If you're switching jobs, its time to review your old 401(k) account. Know the facts before you choose between rolling over, withdrawing or leaving it alone.
Receiving a military bonus is a great thing, but you'll want to be smart about managing it. Try one of these 5 smart investments to make it last.
While deployed to a combat zone, military members have the unique ability to contribute tax-free combat pay to Roth TSP. This benefit can be very powerful especially for senior military officers who can contribute up to $18,500 to Roth TSP and never pay taxes on the contributions or the earnings.
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