Potential 401K Caps

[Firethorn]

As I keep telling people ‘Roth IRAs are a great idea until congresscriminals decide to tax withdrawals 20 years from now’
I get glassy-eyed stares followed by ‘they won’t’ or ‘they can’t’
Childlike faith in government always amazes and amuses me at the same time.

 

The feds haven't really reneged on deals like that yet.  Plus, like I said, it's only about 1/3rd of my investing.  About 1/4-1/5th of my retirement.

Pension, TSP, Roth IRA, regular mutual fund, and maybe social security.  My planning is 0 SS. Any I get will be 'nice'.

I should probably state that I like having an 'emergency fund' I can touch without penalty before I'm 55.  I just double checked the rules for withdrawal from the TSP, it seems needlessly complex.

For example, can I change the amount of money I'm pulling out once I start?

[Ben]

For example, can I change the amount of money I'm pulling out once I start?

Now, no. New rules, yes.

Right now, you can take one withdrawal of any amount, then go to the annuity structure whenever you want more money. With new rules, it will work like most other retirement funds. Take some out every month, take some out once a year, skip years, whatever. Or do the annuity if that floats your boat.