Hey all, I had another (yes another!) question I hope you can help me with. First let me say I am a buy and holder and big believer in asset allocation and am steadily becoming a Boglehead, and a Diehards groupie.
I work for the federal government and put the maximum allowed 14k per year (+ approx 5k matching per year), into the TSP (401k) program for retirement. This is my main investment vehicle.
I plan on retiring in about 20 yrs (hopefully) at about 51-52 yrs old.
Now as I understand it, I cannot touch this TSP money until 59.5 yrs of age without significant penalties unless I take an annuity or payout based on IRS life expectancies. Neither of which I am too enthusiastic about.
In light of this I have begun to put approximately 7k per year (hopefully to increase with time) into Vanguards total stock market fund.
My mortgage should be paid off early about 13 yrs from now.
What I am trying to do is to create a vehicle of some kind to carry me through those 8-9 years after I retire, until I hit 59.5 yrs old and can access the majority of my TSP/401k investment without the penalties. Right now this is the Total Stock market fund.
Is there anything I am missing? My biggest fear is to get 5 years from retirement and realize I should have begun an investment years earlier. I am very open to suggestions and grateful for any advice.
Thanks in advance.