Withdrawing From Your TSP Early (Age 55 and 50 Rule)

In this video, Jose Armenta, CFP®, discusses how federal employees can withdraw from their TSP early, specifically the age 55 and 50 rule.

If you want more details on the subject, read the following articles:

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Until next time, take care!
Jose Armenta, CFP®

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[marlan]

I am 58 retired this year and they took 30 percent when I made a withdrawal.
I was fully eligible 30 years of service

[marlan]

Tsp took 30 percent from me and I will not roll it over.(my withdrawal)
However I have already lost $1, 200 in earnings o. The 10 percent penalty they hit me with!
I cant get that back. Also i knew they were going to take 30 percent but i had always thought id be ok taking out before age 59 1/2
I am 58 and when we found this out I started looking for a for a year.
Now I dont know what to think

[benjaminjohnson]

Excellent video. Thank you for sharing this information. I do have a question: Can I transfer all but a portion, say 15%, from my TSP to my IRA and Roth IRA once I turn 57, and just make the withdrawals from my TSP until I reach age 59.5? Ideally, I'd like to use the G Fund as my cash account for the first couple years of retirement. Does that make sense?

[vladimirnarvaez]

Thank you for the information. Question: I will meet my 10 years of Federal service at age 55, and planning leaving service with the intention of taking advantage of the deferred retirement at age 57 to meet MRA+10, Whet is the earliest age can I withdraw my TSP without the 10% penalty? I do understand that I will be penalized 25% of my pension due to early retirement prior to 62 yrs. Old. Thank you.

[EmeraldCityDiggers]

55 now, no longer federal employee, retired military plus 12 years civilian federal. Can I withdraw any $ from my TSP now?

[wjs]

55 and older. You said it at 2:46 but it was confusing up to that point.