Distributions from your TSP before age 59 1/2 are typically subject to an early withdrawal tax, but the Rule of 55 provides an exception. In this video, we discuss five crucial points that you should know about the Rule of 55.
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I had no idea about this. Question… if I have a tsp loan and retire at 55, will I be charged a penalty for the portion that isn't paid back?
Great info. Thanks! I'm 55 and a fed employee and I was not aware of this at all. Thanks to the YouTube algorithm for the virtual intro!
If I do this, can I keep my FHBP and FEDLI? Then FERS paycheck would kick in at age 57?
Thank you for the video! I want to make sure I understand what you're saying. If I leave federal service after 55, I can take Roth tsp out tax-free and normal tsp out without the additional 10% charge, but with the normal federal taxes?
Great information on the Rule of 55. Thanks!