Anyone have any idea how to deal with a federal pension 10 years before retirement? Not many good choices that I can see....
I'd like to get as much preservation of capital as possible, and get it out of "the system" if possible. Can it be borrowed against?
Any advice is appreciated.
“I wish it need not have happened in my time," said Frodo.
"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us.”
― J.R.R. Tolkien, The Fellowship of the Ring
I thought of borrowing against what I put in, but I can't touch the 5% match until retirement....
Any more ideas?
1) Redeem, while you still can;
2) Own nothing, control everything
How do I redeem a retiremnt pension that one has to be 67 1/2 to redeem?
I'm all ears!
I feel your dilemma, I have a pension I can't access without retiring or quitting. At one point we could borrow for home purchase but they have since shut that loophole down. For us quitting will cause immediate forfeiture on all employer contributions and a big fat tax bill on top of having to look for a new job. They are just protecting THEIR money. If I chose to quit and take MY portion I can't begin the process until 60 days after quitting. Timing won't be easy. If we do have a "hard landing" bet it will be virtually impossible and new roadblocks will be thrown up. Wish I had a good answer to contribute.
Against TSP contributions.
Will update more soon.
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