The National Active and Retired Federal Employees Association (NARFE) reports that approximately 88 percent of federal retirees elect to take their TSP savings in monthly withdrawal payments, 12 percent elect a single payment withdrawal and less than 1 percent elect the annuity-purchase option.

Knowing the pros and cons of the TSP’s monthly withdrawal options is critical to preparing for retirement whether you are retiring this year or 10-20 years from now.

After years of faithfully contributing your hard-earned money into your Thrift Savings and carefully managing the allocations for optimal growth, the last thing you would want is a costly surprise because your contributions weren’t enough to supplement your other sources of government income: retirement annuity, FERS Supplement, and Social Security.

In addition, there are many ways to withdraw your TSP savings, however which one will provide sufficient income throughout your retirement years?

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income analysis