Retirement Withdrawal Options... Guidance Please

[dave95sps]

OP here. Question to Administrator - Can this thread question be moved to the "Retirement and IRA Talk" thread ?

Thank you.

 

[dave95sps]

Hello, I have been retired for 8 years and have not touched my TSP. I was looking on these forums to view threads on withdrawal options, advantages and disadvantages, but could not find what I was looking for. I have read the TSP brochure regarding available options such as annuities, roll-over to IRA, full or partial withdrawal, monthly payout, etc, so I have at least some knowledge. Is there an area here on TSP talk with such a discussion going on ?

In my particular situation, I think I want to withdraw a monthly amount, while preserving my TSP balance as much as possible, so I can pass the modest nest egg on to my surviving heirs (wife and children). I understand I can withdraw from my TSP monthly, and still have the ability to manage my investments among the TSP funds. I am presently still 100% invested in the S fund. I also understand that I can adjust the monthly withdrawal amount once a year.

I tried using the calculator on the TSP website, but it seems to consider my "life expectancy".... the way I understand that is - if I say I think I will live 30 years, then in 30 years all my nest egg would be exhausted (?). I would like to live 30 years and leave as much of my present nest egg possible intact. What I want/need to know is what % of my present balance can I reasonably take out on a monthly basis, while preserving the nest egg ? I know the market will have swings, and there are no guaranties.

Any guidance offered would be appreciated. I learn so much from this website, the collective wealth of knowledge is very impressive.

Thanks in advance.
Dave