• Question
  • TSP withdrawl at age 55.

    Asked by someone from Bremerton, WA on 1/21/2015

    I'm on CSRS, when I retire at age 55 this year. can I take $ out of my TSP with out getting panelized?

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  • Categories: When to Retire, Retirement Planning

Answers

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  • Yes, under special conditions which require that you take our comparable withdrawals until you are 59 1/2. You will need professional help with this as well as whether you should do so in the first place. You can find fee-only advisors in your area on www.napfa.org. Retiring at 55 requires substantial savings for most people, and starting to take withdrawals at 55 will severely limit the savings you can use each year of retirement.

  • Login to rate this answer:   Answered on 2/3/2015
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.