Transitioning from Military Thrift Savings Plan to Private Pension: A New Approach to Securing Your Military Retirement
Exploring the topic of transitioning from the Military Thrift Savings Plan (TSP) to a private pension.
Exploring the topic of transitioning from the Military Thrift Savings Plan (TSP) to a private pension.
With the shift from traditional pensions to retirement savings plans, military service members are now responsible for managing their retirement income.
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The main topic of discussion is retirement planning, specifically focusing on the Thrift Savings Plan (TSP) and how retirees can access and strategically utilize their TSP funds. Scott and Mike discuss the utilization of TSP funds to create a “war chest strategy” for replacing Social Security benefits and generating liquid funds for various retirement purposes….
Table of Contents What is so Special About the Low TSP Fund Fees Ratio?Low TSP Expense Ratios Can Be MisleadingYour TSP Account is Not A FiduciaryTSP Administration is CumbersomeWhat is the Cost to Use Your TSP Funds?What is the Veteran Retirement Rescue (VRR)? This is an excellent question for anyone who’s planning on retiring from…
Imagine if, in just a few years, the military retirement you’ve worked so hard for during years of service to the military on active duty won’t be enough to cover your retirement plan base pay. That’s the reality military retirees may face in civilian life. The military retirement pay career military members rarely will produce enough…
Many career military families are concerned about how they will live on a fixed income after retiring from the military. One of the greatest fears veterans have is not being able to afford their bills or having to rely on family members for financial support because there isn’t enough money left over at the end…
Is TSP a 401K? Recently, in a conversation I was having on LinkedIn, it came to my attention that I have some pretty controversial ideas about the new Blended Retirement System (BRS). In short, I think that the BRS model creates a poverty mindset. A poverty mindset is an underlying belief that you will never have…
Share0 Tweet0 Share0 Pin0 How to know how much you need retire as a Veteran?This is a question that plagues many a federal retiree and veteran. Many veterans have worked for decades in service to their country, retired, then obtained employment as civilian contractors. They are earning a salary and their military pension. Many of…
When you want to begin using your money you can initiate a TSP withdrawal from the TSP.gov website. This new phase of beginning to use your money may cause concerns about ensuring you never run out of money in retirement. A safe alternative to taking a TSP withdrawal is to transfer your Thrift Savings Plan…