About 10 years ago I realized that my military pension was going to cover the vast majority of my no kidding retirement income goals. We decided to buy a lot in a neighborhood so that we could build our post military home there as we go closer to that time. Well, that time is quickly approaching and we have engaged with a general contractor to build the home.
Most of my savings since that time was to pay off the lot, which we did. The vast majority of my retirement savings is in my TSP. I need to get some money out for pre-construction costs that need to be paid before a construction loan kicks in. And, depending on the loan, I may need more of the retirement savings for my down payment/equity.
I am 47 years old. It appears that the only way I can take money out of my TSP is via the Hardship process. Is my assessment correct?
Most of my savings since that time was to pay off the lot, which we did. The vast majority of my retirement savings is in my TSP. I need to get some money out for pre-construction costs that need to be paid before a construction loan kicks in. And, depending on the loan, I may need more of the retirement savings for my down payment/equity.
I am 47 years old. It appears that the only way I can take money out of my TSP is via the Hardship process. Is my assessment correct?
Statistics: Posted by Cooperd0g — Fri Oct 18, 2024 6:32 pm — Replies 5 — Views 278