Saving, Investing & Retiring

You’ll soon have more options with your Thrift Savings Plan (TSP) account. Whether you’re counting down the days to retirement or plan to work for several more years, it’s important to know you’ll have flexibility when you need your money.

 

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The majority of us will at some point face the question of when it’s time to retire. And while the question seems like a simple one, oftentimes the answer is not so easy. And then there are times when the decision is made for you and you end up having to retire early with an unplanned income gap in your retirement. 

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Here’s how you can add risk control in an uncertain economy

When you’re talking about investing, oftentimes there’s an element of risk, and when you add a volatile economy, the risk can increase. Risk management is key when it comes to making decisions in your investment portfolio.

Let’s look at some key factors when it comes to understanding risk control.

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Why consider a rollover?
When you roll over a distribution from a 401(k), 403(b), or governmental 457(b) plan, you generally don't pay any taxes until you receive a distribution from the new plan or IRA. If you take a distribution but don't roll it over, it will be subject to federal (and possibly state) income taxes (except for any after-tax contributions you've made); and if you haven't yet reached age 59½, you may also be subject to a 10% early distribution penalty tax unless you're eligible for an exception.1 If you take a cash distribution, you're also foregoing any further tax-advantaged growth; and if you spend the funds, you may not have sufficient assets to last throughout retirement.

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