TSP Retirement Decision

[ValleyGirl]

Long way to go, but if it's still around I'd probably start at 62.

[SeattleSid]

Trying to wait a few. Hope to start at 70.

[upsydaisy2]

If the SSA fund is low or runs out by the time we start collecting, will our pension payments be increased to help make up the loss?

[ArrieS]

If the SSA fund is low or runs out by the time we start collecting, will our pension payments be increased to help make up the loss?

Nope.

[CCHigh]

My humble opinion is despite getting back in our staying out, get out of TSP when you can. When you retire you can move it out of the TSP and not be so locked up into these constrained index funds. Recommend moving it out into a set of mutual funds that align to your risk tolerance and liquidity (cash availability needs) which aren't all tied to indices (sp?). However, before you make a move have a conversation with a financial adviser who has background in federal retirement plans and tax strategy so they can help you shepherd that without being killed. My opinions only. Oh...and grats on your upcoming retirement!

[SeaBear]

If you are married then you need to determine what your wife's SS draw will be. If you are the big earner in the family then it is better to wait on drawing your SS as long as you can and have your wife draw at 62. This is because when you start to draw SS then your wife is eligible for 1/2 of the value of what you draw. If that is higher than what she is currently drawing then her SS draw will automatically increase. In addition, if you die before your wife then she is allowed to draw 100% of what you were drawing. Therefore if you wait to 70 then that would give her a good pay increase in the event you die first and even if you never collected she can collect 100% of what you would have collect at the time of your death. My idea is to NOT take the civilian survivor benefit (I'm Military Reservist) and will have my wife on TriCare. The extra 10% that I receive when I retire as a civilian at 62 will kind of make up a little bit for not taking SS. Finally, I plan to figure out how to roll my TSP over into a plan that has a US Trustee and invest in Swiss Annuities. That will protect my money so that it cannot be attached or seized by any court, and cannot be included in bankruptcy proceedings, lawsuits, etc. This applies even if a judgment or court order specifically orders the seizure of my annuity or its inclusion in an estate or a bankruptcy settlement. OBTW: Swiss Annuities average 8+% APR. I might be able to make more but heck I don't want to have to work at it or be worried about it when I retire.

[AventadorS]

Agree on leaving TSP at retirement. IRA rollover is a good option.