The Civil Service Retirement System (CSRS) pension and the Thrift Savings Plan (TSP) are qualified retirement plans, too.2 How Are CSRS and FERS Different? The Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS) are both retirement plans for U.S. ...
If you do have to withdraw contributions, you can pay yourself back and retain your Roth contribution for that year if you act fast. “If the emergency turns out to be a short-term cash-flow issue that gets resolved quickly, [you] can put the money back into the Roth IRA...to refund...
Once I realized that I could escape the world of bosses, commutes, and pointless hour-long meetings, I knew I had to dedicate all of my energy into achieving that goal. Birth of the Mad Fientist To speed up my journey to FI and help others do the same, I launched the Mad Fientist ...
SEP-IRAs are deferred tax accounts, meaning you use pretax dollars today (and take a deduction), but must pay the ordinary rate of income tax upon withdrawals (whether early or during retirement). The rationale is that one's income tax bracket will be lower in retirement when overall income...
Is It Better to Do Pretax or Roth? Though it may be difficult to guess, and tax rates in the future are unknown, you should ask yourself whether you’ll be in a higher or lower income tax bracket at retirement. Will you have more taxable income then, compared to now?