Re: [TSPStrategy] Maybe leaving the TSP

Required Minimum Distributions are 7 years away for you, probably need to try to double your balance or come close by then is my opinion.

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From: TSPStrategy@groups.io <TSPStrategy@groups.io> on behalf of Sky Paxton <sky@familystones.net>
Sent: Wednesday, February 10, 2021 11:31 AM
To: TSPStrategy@groups.io <TSPStrategy@groups.io>
Subject: [TSPStrategy] Maybe leaving the TSP

 

All in or out aside, ( btw I went all G in Jan) I'm looking for advice.

I turn 65 this year. It won't be long before Required Minimum Distributions kick in. I've been retired since 55 and taking out a modest 3k a month since I retired yet due largely to our many blessings and advice from this group the tsp balance has significantly increased.

My questions should I take large distributions out every year now until I'm 70 to take advantage of the favorable tax law or wait and see what the new tax rate will be in 5 years?

If I take the large distribution every year now(leaning this way), should I roll it into an IRA then convert to a Roth?  There will be a significant amount to leave to my heirs unless something dramatic changes?

Thanks and Blessings to all,

Skyler

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