401k (specifically TSP)

[Jamaica Adviento]

So my dad is scheduled to retire December 31 2021. We have no idea about how retirement works and whats the best to withdraw and all that. Anyone know about taxes regarding TSP?

[Daniel Johnson]

Something that absolutely no one is saying here is that the TSP is one of the lowest cost/best retirement plans out there. As a financial planner myself, I would strongly consider leaving as much as you can in the TSP. I would also be very hesitant to work with any advisor/planner that advocates for your father to move it into an IRA somewhere else. Find an hourly/non-assets under management planner to talk with. Pay for information, not for them to take over managing the investments.