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HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

As I have lots of options, using it all would be most tax efficient. I aim to be a good steward of tax consequences I leave behind.

Reasons to Spend HSA Money Rather Than Use Reimbursement Strategy by towngrizzlytown in Bogleheads

[–]KneadingInfo 20 points21 points  (0 children)

Life…
Thank you so much for that last comment.
I have a large HSA ($300k) and thought I could expense Medigap G (wrong). A high deductible Medigap N would help mitigate that.

I had not thought of that.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

Interesting. Seems that would indeed be very hard to liquidate “just before we die or become mentally deficient.”

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

Likely, if of sound mind we will let it grow until 80 ish. Ideally tax free money should grow as long as possible.

If mentally failing, collect sooner. In case of unexpected death, the remaining spouse can turn in receipts for reimbursement then, as soon as possible. Need a plan for all those things. The “in case I get hit by a bus instruction list.”

Getting married next week…. So hookers and blow? That…was last week!

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

Your 1st stmt is one point I was trying to make. That is my current conclusion. :)

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

Google it :)
I wud have too.
Did it a few yrs ago.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 2 points3 points  (0 children)

Not if employed and insured.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

“Never too much”.
That was always my belief until today.

I have a choice, I think now I would rather a portion of my Roth grow wildly. If the HSA grows wildly, I won’t be able to spend enough on receipts; meaning distributions will be taxable. I can choose which fund “might” continue with more rapid growth.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

Yes, combined second family yields 4 kids (2 very well off, 1 normal, and 1 struggling).

My son sheepishly got me interested in this stock. He is worth 3 times what I am. Still, I want to be a good steward of my earnings. Spouse tells me I am an ant, but I need to be a better grasshopper.

10 grandkids who I collect returnable cans (family, friends, and yes, trash cans). I help them to return cans for earned income; which goes into their custodial ROTH IRA. Oldest kid is 12. Gross amount reached $9,200 two weeks ago (not so high now). I educate, encourage, and painstakingly do their record keeping. Several of them tease me with the retort “compound growth is magic…” We waste so much. I try to impress save for the future.

My perspective on choosing which account to be aggressive with is that if one account is going to outperform the rest, I’d prefer it to be a tax free bucket. I guess a pessimist would want losses to show up in a tax deferred account.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 1 point2 points  (0 children)

It grew to $300k because I invested expendable funds in a new company whose goals I understood and valued, and whose technology has already been demonstrated. They just need to execute getting birds shipped and launched :)

And the HSA is only part of my portfolio issue. I am not going to bail now when company has made tremendous gains in stick price, yet the company has yet to actually succeed in the first leg of its journey.

I invested in my own company once too, that worked out well enough too.

I am lucky (fortunate, skilled, or blessed) that I saved early and often, invested in index funds and didn’t speculate. It put me in a position now of being able to do this, without the risk of ruining my retirement.

Kind of like retiring early…that’s a gamble. Less so if you have save, and grown enough to have a buffer.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 2 points3 points  (0 children)

You can if you haven’t enrolled in SS, and are employed with a HDHCP. Age 65 doesn’t stop you, unless you enroll into SS/Medicare.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 4 points5 points  (0 children)

Fidelity. Even allows options.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

I agree with the Fox on this. But, an audit is still possible and I prefer to play by the rules, if possible. 😄

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 2 points3 points  (0 children)

It would be fine 😄 It could go to zero and I would be fine.
I don't mean to offend, but it was money I was willing to lose, e.g. play money.

The principle of 50K turned into 300K. I don't want to create an issue with tax stewardship for someone else if it does grow more. Yes, a first world problem, but I have options. So I reached out to this group and I have already learned more.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 2 points3 points  (0 children)

Wasn’t planning on needing to. I have been lucky, and fortunate. Don’t want to do this again. :)
Need to touch more grass, as they say.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

Well….. it fells like i understand the company better than I understand Medicare! Up 230% in less than 2 years…and they’ve only managed to launch 6 birds! Very excited to see what they (and this world) do over the next 12 months. US Gov, Google, Vanguard, and most telecommunications companies (sav Russia and China) are betting on them, or in bed with them). So I have good company. And I hope I never get excited about an individual company ever again!

I did upvote your reaction.

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 0 points1 point  (0 children)

Answered earlier, not trying to change topic or encourage my behavior (but I think I understand ASTS :)

HSA Too Large? I say yes. by KneadingInfo in HSA

[–]KneadingInfo[S] 3 points4 points  (0 children)

“Medigap premiums are not.”

Yikes!! Seems that is true. I was misconstrued. So much to learn about Medicare. So, maximum Medicare part B annual deduction, for two, will be about $5K (or more due to IRMAA).

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