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Reply to "ISO recs for a financial advisor who can help an elderly parent decide whether to convert TSP balance to an annuity"
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[quote=Anonymous][quote=Anonymous]Coincidentally I just today sat through a retirement seminar my fed agency sponsored, where the presenting CFA (who specializes in fed retirements) discussed why the tsp annuity option is almost always a bad decision. That is interesting but WHY did he say that?? My gut tells that in this situation assuming her TSP is roughly 60/40 stock/bonds, she might be better off not doing the annuity. Just take off 4% per year from the TSP to meet income needs. There may be no COLA with the annuity unless you pay for that rider. Age 80 for an annuity does seem old. You have to have some growth risk to compete against inflation. Plus the annuity will have surrender charges if she needs access to those funds. [/quote][/quote]
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