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re: HSA was moved and now all in cash- what would you with it?
Posted on 2/22/24 at 4:58 pm to Black n Gold
Posted on 2/22/24 at 4:58 pm to Black n Gold
quote:
Someone please educate me on the benefit of this approach.
Can always request reimbursement down the road, but those funds grow tax deferred until then and can be withdrawn tax free for qualified expenses at any point in the future. It’s beautiful.
1
Posted on 2/22/24 at 7:06 pm to slackster
quote:
those funds grow tax deferred until then and can be withdrawn tax free for qualified expenses at any point in the future.
Damn, how did I not know that. Sitting on a bunch of receipts that I was going to reimburse myself for. Guess I’ll be filing them away for a while.
Posted on 2/22/24 at 8:10 pm to Black n Gold
Posted on 2/22/24 at 9:08 pm to Black n Gold
quote:
Sitting on a bunch of receipts that I was going to reimburse myself for. Guess I’ll be filing them away for a while.
I immediately take a photo of the receipt and save it to a Google drive folder labeled by year. The file name is the amount of the expense. Down the road if I need some $ for college living explorers something, I can get reimbursed for those old (at that point in time) expenses.
This post was edited on 2/22/24 at 9:09 pm
Posted on 2/22/24 at 11:03 pm to meeple
quote:
I immediately take a photo of the receipt and save it to a Google drive folder labeled by year. The file name is the amount of the expense. Down the road if I need some $ for college living explorers something, I can get reimbursed for those old (at that point in time) expenses.
Good call.
Posted on 2/23/24 at 8:43 am to meeple
quote:
I immediately take a photo of the receipt and save it to a Google drive folder labeled by year. The file name is the amount of the expense. Down the road if I need some $ for college living explorers something, I can get reimbursed for those old (at that point in time) expenses.
I applaud that organization. I'm in the camp of 'I'll eventually have medical bills' that I can use them for versus the stack along the way.
HSA has been nice seeing it grow over the years. I have around $30K and it's the only money I earn that is never taxed by a government.
Posted on 2/23/24 at 9:05 am to Billy Blanks
You could buy an ETF like the SPY for a 30 year hold. I own an Mutual Fund called FKINX that I inherited from my grandmother who bought it in 1945. It invests in dividend paying stocks and has 75 billion in assets
Posted on 2/23/24 at 10:37 pm to Man4others
quote:
I own an Mutual Fund called FKINX that I inherited from my grandmother who bought it in 1945. It invests in dividend paying stocks and has 75 billion in assets
How much is your balance now?
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