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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. Do you have questions or concerns about Federal Benefits or Retirement Planning? 🗓️ Schedule a free consultation ...

In this video, Jose Armenta, CFP®, discusses how federal employees can withdraw from their TSP early, specifically the age 55 and 50 rule. If you want more details on the subject, read the following articles: https://yourfederalemployeebenefits.com/2022/07/20/withdrawing-from-your-tsp-early-part-2-age-55-50/ Are you looking to work with a ...

Do you understand the withdrawal rules for your TSP to ensure you do not incur any penalties? Do you know how your TSP differs from your IRA? In this video, Micah breaks down the rules for both the TSP and IRA and illustrates how they both work. You can read the full article here: https://plan-your-federal-retirement.com/tsp-withdrawal-penalty ...

There are various ways to withdraw money penalty free from your TSP before age 59.5. In this video, we focus on two methods that allow you to retire early and still avoid the 10% early withdrawal tax. Do you have questions or concerns about the Thrift Savings Plan, Federal Benefits or Retirement Planning? 🗓️ Schedule a free consultation at ...

Submit a question here: https://hawsfederaladvisors.com/question-submission-page/ The FERS Pre-Retirement Course: The Ultimate Guide: https://hawsfederaladvisors.com/fers-pre-retirement-course-the-ultimate-guide/ Want to schedule a consultation? Click here: https://bit.ly/work_with_us_haws Retirement accounts (TSP, IRA, 401k etc.) can be a ...

Planning for retirement is a big deal. It is often compared to climbing a mountain and getting to the top (aka retirement) is a big accomplishment. But like all hikers and adventurers know, the journey isn’t over once you get to the top of the mountain. You still got to make it down. Taking money out of your TSP is part of coming down the ...

The simplest rule to get around the 10% penalty before 59 and 1/2 is available to you if you retire in the year you turn age 55 or later.

In this episode of theSITREP, Paul covers at what age someone is able to withdraw funds from their Thrift Savings Plan. Paul is joined by U.S. Air Force Veteran, Mike Jerue, who serves as the Deputy Chief Investment Officer at Thrift Savings Plan. Listen to the complete Thrift Savings Plan Podcast here: https://media.transistor.fm/11bbf49e ...

Are you trying to figure out how your TSP will be taxed when you retire? In this video, Micah explains the different types of taxes to help you plan for your federal retirement! You can read the full article here: https://plan-your-federal-retirement.com/fffc-is-my-tsp-taxed-as-ordinary-income-or-capital-gain/ Let us know in the comments below ...

I have mixed feelings about TSP loans. For some they can be a savings grace in a bind but they are often misused. We all know that unexpected things happen in life and ideally none of us would ever have to touch our retirement savings to cover these emergencies. But because life is often not ideal, there are certain times that a TSP loan might ...

Using your Thrift Savings Plan (TSP) account successfully involves a lot more than just picking investments. Federal retirees need to understand portfolio management principles to give them the best chance of success. In this video, Thiago Glieger, federal employee advisor, discusses how to use your TSP correctly. [FREE Newsletter]: https ...

Social security becomes taxable when your combined income exceeds certain thresholds. Your Provisional Income (the amount of income that is taxable) is the sum of your AGI (Adjusted Gross Income - includes federal annuity and traditional TSP withdrawals) plus tax exempt income (from municipal bonds) plus 50% of your Social Security income. Most ...

What should a federal employee do with Thrift Savings Plan (TSP) in retirement? This video discusses 3 options for a newly retired FERS employee as well as pros and cons of each. Deciding what to do with your TSP is one of the more important ones in your federal retirement. My website www.bobbfinancial.com Schedule an introductory call https ...

Many federal employees believe there is an early withdrawal penalty for taking anything out of the TSP before reaching age 59 ½, but this isn’t true. The

If you take money out of any tax-deferred retirement account, such as 401(k), or IRA, before age 59-1/2, the distribution will be subject to an additional 10% penalty tax on the amount withdrawn. This video describes how the penalty works, and tells you under what circumstances you can get an exception to the penalty. 2024 UPDATE: For ...

Getting money from retirement accounts can come with strings attached: Income tax, early withdrawal penalties, and tax withholding may leave you with less than you hoped. So, how do you avoid taxes on 401(k) withdrawals and other accounts? In some cases, you just have to pay. But sometimes, there are several opportunities to get 401(k) money ...

For those under age 59-1/2, Rule 72(t) is one way to avoid paying the 10% penalty on early withdrawals from retirement accounts. 📊 Download your FREE How-To-Retire checklist: https://learn.howtoretire.co/checklist -- LINKS -- Rule 72(t) calculator: https://www.bankrate.com/retirement/calculators/72-t-distribution-calculator/ IRS guidance ...

The 72(t) rule is an exception in the IRS rule books for the early withdrawal penalty. Typically, someone who has not reached the age of 59.5 would face an additional 10% penalty tax if they withdraw money from their retirement accounts. There are several exceptions to that rule, and the 72(t) method is one of them. This video explains ...

At the time this video was published, all information was accurate but is subject to change as laws, policies, and regulations change. - In this video, we’re going to explore the 55 year old rule for VA disability. The VA 55 year rule states that veterans are protected from VA rating reductions if they are over the age of 55. But did you know ...

For early retirees, there is a way to avoid paying a 10% penalty on withdrawals from retirement accounts: the Rule of 55. 📊 Download your FREE How-To-Retire checklist: https://learn.howtoretire.co/checklist To learn more, visit our website: https://www.pranawealth.com/ #pranawealth #patrickking #howtoretire #retirement #retirementplanning ...

The rule of 55 allows you to withdraw money from your 401k in the year you turn 55 and avoid the 10% penalty. You must have separated from your company and this does NOT apply to IRA's. Helping you to be wise with your money! To see more videos discussing personal finance Subscribe: https://www.youtube.com/channel/UCbDAlu04OKiAZLu_5JaRwJw?sub ...

Explanation of the "Rule of 55" which is when certain tax-deferred employer retirement plans allow you to take penalty-free distributions prior to age 59 1/2. Links in this video: Retirement Planning Insights - https://www.tenonfinancial.com/newsletter Taxes in Retirement - https://www.facebook.com/groups/taxesinretirement #RetirementPlanning # ...

A 401(a) plan is an employer-sponsored money-purchase retirement plan funded with contributions from the employee, the employer, or both.

Many people who retire early can use the rule of 55 to avoid the 401(k) early withdrawal penalty. You Must Leave Your Job the Year You Turn 55—or Later. If you retire or are laid off in the calendar year you turn 55 or later—or the year you turn 50 if you’re a public service employee—you can withdraw funds from your current 403(b) or ...

Join this channel to get access to perks: https://www.youtube.com/channel/UCJcOYT3_5m43V5568W6jDRw/join Normally, TSP charges a 10% early withdraw penalty before age 59 1/2. But for certain folks (including retired military) the so-called Rule of 55 lets you access your retirement funds earlier without paying a penalty. #militaryretirement #tsp ...

What are ways to withdrawing your tsp account after leaving federal service - What is withdrawing your TSP account after leaving federal service? 1-800-566-1002 http://www.RetireSharp.com . What are the techniques to withdrawing your tsp account after leaving federal service for retirement and learn exactly how you can avoid the most common ...

Retirement planning often involves assessing various income sources such as federal pensions, Social Security, and personal savings like the Thrift Savings Plan (TSP). Federal employees have unique opportunities regarding TSP withdrawals, such as penalty-free access if retiring in the year they turn 55 or older. TSP withdrawals are subject to ...

Understand Roth IRA rules, including withdrawal, early withdrawal penalties, and distribution rules. Learn how to maximize your Roth IRA benefits.

Navigate Roth IRA withdrawals by learning when you are eligible to make a withdrawal, tax matters, whether you may face penalties, and exceptions to the rules.

If you want to retire early and use your retirement accounts then in this video I'll explain how to take the money out without the additional 10% early withdrawal penalty. The substantially equal periodic payments also known at the 72(t) distribution rule may allow you to create an income stream before reaching the age of 59.5. Use the simple ...

Your 401(k) account is likely one of the most valuable assets you have, so it's essential to know when and how you can access it. These accounts are intended to fund your retirement, and as such you can access them penalty-free when you reach age 59½. In most cases, taking money out of your 401(k) before then will cost you a pretty penny ...

Want to schedule a consultation? Click here: https://bit.ly/work_with_us_haws The FERS Pre-Retirement Course: The Ultimate Guide: https://hawsfederaladvisors.com/fers-pre-retirement-course-the-ultimate-guide/ Help Support Our Channel and Future Content By Donating Here: https://www.paypal.com/donate/?hosted_button_id=YDL6XPP8CQ5WU Submit a ...

The rule of 55 is an IRS guideline that allows you to avoid paying the 10% early withdrawal penalty on 401k and 403b retirement accounts if you leave your job during or after the calendar year you turn 55. Learn everything you need to know about the Rule of 55 in 9 rules of its own. 🔔 Subscribe for all things retirement, investment, tax ...

As you are probably aware, there are 2 ways to get money from your tsp while employed. One is an age based in-service withdrawal, where you have the ability to make a withdrawal once you have attained age 59 1/2 and the other is a financial hardship withdrawal. The focus of this video will be on the ins-and-outs of financial hardship ...

Get free help with your 401(k) Rollover to an IRA with Capitalize: https://go.robberger.com/capitalize/yt-401k-atf-rollever When you leave a job, whether to retire, take another job, or leave the workplace for a time, an important question is what to do with your 401(k), 403(b) or other workplace retirement plan. In this video we walk through ...

Check out the full article here: https://planyourfederalbenefits.com/blog/ Check out my courses here: https://planyourfederalbenefits.com/courses-main-page/ Check out my articles on FedSmith here: https://www.fedsmith.com/author/dallen-haws/ Dallen Haws at Haws Financial Planning Sierra Vista, AZ Want to work with me? Click here: https://bit.ly ...

I have 31k in my TSP. Is it possible to withdraw the total amount at one time? Here's what you need to know. You can read the full article here: https://plan-your-federal-retirement.com/fers-withdrawing-from-your-tsp/ =-=-=-=- Your federal career has probably been complicated, and guess what? Your retirement - or planning for it - might be too ...

Hardship Withdrawal from 401k, in this video I will go over the hardship withdrawal rules for the 401k, how to withdraw from 401k during a hardship and how it is different from an IRA. The 401k withdrawal tax, how to get a hardship withdrawal from 401k, potential 401k withdrawal penalties, when can i withdraw from my 401k early? How To Use Your ...

Want to schedule a consultation? Click here: https://bit.ly/work_with_us_haws The FERS Pre-Retirement Course: The Ultimate Guide: https://hawsfederaladvisors.com/fers-pre-retirement-course-the-ultimate-guide/ Help Support Our Channel and Future Content By Donating Here: https://www.paypal.com/donate/?hosted_button_id=YDL6XPP8CQ5WU Submit a ...

Tune in to learn about the VA disability 55-year rule. VA reexamines veterans with disability ratings occasionally to determine if their conditions have improved, stayed the same, or worsened. Periodic future C&P exams, which happen every 2 to 5 years, can result in a higher or lower VA rating or one that stays the same. In some situations, VA ...

How to Calculate Your Future TSP Balance in Retirement TSP Calculator Link https://www.tsp.gov/calculators/how-much-will-my-savings-grow/#top

The 55 and Separated from Service Rule is a little-known IRS rule that allows you to avoid paying the 10% early withdrawal penalty on 401(k) and 403(b) retirement accounts if you leave your job during or after the calendar year you turn 55. Normally, any withdrawals prior to age 59 ½ would have a 10% early penalty from the IRS. #shorts #401k # ...

Unlock the secrets to optimizing your Thrift Savings Plan in our latest video! 📈 Whether you’re a federal employee or a retiree, making informed decisions about your TSP can significantly impact your financial security. Learn what is the best way to maximize your withdrawals, avoid common mistakes, and secure a robust retirement income ...

A 100 P&T VA disability rating should not be confused with a protected VA disability rating. A "protected" rating is a VA rating that cannot be reduced or revoked by VA in the future, absent fraud in the application. 00:00 Introduction to 100% P&T VA Disability Ratings 00:51 How long does permanent VA disability last? 3:33 When can the VA ...

Explanation of the 9 exceptions to the 10% early withdrawal penalty when taking a distribution from an IRA before age 59 1/2. Links in this video: Retirement Planning Insights - https://www.tenonfinancial.com/newsletter Taxes in Retirement - https://www.facebook.com/groups/taxesinretirement #RetirementPlanning #TaxPlanning #IRA DISCLAIMER: This ...

Learn about TSP withdrawal penalties for those under 55, clarifying age and timing for penalty-free access to funds. #TSP #FinancialPlanning #Retirement RaynaRetirement(@rayna_retirement). original sound - RaynaRetirement. Replying to @Misi Kriss separating under age 55 will include a penalty if you withdraw from TSP before 59.5 …with very ...

401K EARLY WITHDRAWAL EXCEPTIONS | Free Roll Over Business Startup PDF here 👉 https://bit.ly/2UFcqla In this video you'll learn about using your 401k to start a small business and how you don't even need to worry about those 401k penalty exceptions and 401k early distribution exceptions if you want to buy a business with 401k money or use ...

How to Withdraw from Your TSP Early Without Facing Penalties: Is It Possible? Are you a federal employee approaching retirement and looking to access your Thrift Savings Plan (TSP) funds without penalties? Confused by conflicting information? You're not alone. In this video, we dive deep into the rules of withdrawing from your TSP before age 59 ...

Free Copy of My Book: Building Wealth In the TSP: Your Road Map To Financial Freedom as A Federal Employee: https://app.hawsfederaladvisors.com/free-tsp-e-book FREE WEBINAR: "The 7 Biggest FERS Retirement Mistakes": https://app.hawsfederaladvisors.com/7biggestmistakeswebinar Want to schedule a consultation? Click here: https://bit.ly/work_with ...

Please Like, Comment, and Share my videos! 🔔 SUBSCRIBE HERE 🔔 http://bit.ly/BroeSubscribe Check out my complete playlist on TSP investing: https://www.youtube.com/playlist?list=PLscTZuOqKWIxcH7ZW9STwVqQOY1xUKZgO 👇 👇 Watch My Other Videos Here 👇 👇 ★ Know Your TSP - The Thrift Savings Plan Investment Funds G/F/C/S/I https ...