Rolling TSP into Vanguard Index Fund

[MCWILLIC]

Hello,

I just wanted to get the advice of those with more ideas and experience than myself.  I separated from federal service and wondering if I can roll my TSP into a Vanguard Index Fund, such as those spoke about in the article Managed Payout Funds: Automatic Grocery Buying Machines for the Early Retiree.  And, how would someone set up for the dividends to show in their bank account, also spoken about in the same article.

Thank you.

[Catbert]

Are you retired?  Over 59.5?   

You can roll your TSP into an IRA at Vanguard tax free and buy whatever mutual fund or stock you want.  I'm sure Vanguard could set it up to send you money monthly.  But you do realize that you will owe income taxes on all IRA distributions, right?  And if you are under 59.5 you'll owe penalties.

[Catbert]

I should add that if you move your TSP (I'm assuming not a Roth TSP) to Vanguard without putting in an IRA you'll immediately owe income taxes and, if under 55, penalties.