My husband is 52, 7 and 1/2 years away from withdrawing his money from his plan without penalty. (and yes, this is his money, contributed by him with no federal matching).
Do we bite the bullet and take the 33% penalty? Do we leave it there and trust that it will be there in 7 years?
Or go see a financial advisor and figure it out with them?
I’m thinking about going ahead and taking my Virginia retirement....at a reduced benefit just so I actually see some of the money. I miss you guys at MMS, but I’m so very happy in WVa....no CM!
This is just one opinion, but if you’re worried that the federal government will default, don’t. The federal government will always print the money, though it may be depreciated. I can’t say the same for state and local pensions. I suspect withing the next decade you’ll see many state/local pensioners take mild to significant haircuts in payouts