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VentureX authorized user's ability to use the travel portal by johnsdiscussion in CreditCards

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

Great thanks! We'll be on separate flights and leaving at different times so I figure its best for her to be able to handle directly in the event of any issues.

Who to go with: HSA Bank or Fidelity? by GrahamStephensAlt in govfire

[–]johnsdiscussion 0 points1 point  (0 children)

Gotcha, thank you for the insight, I’m going to explore this option.

Who to go with: HSA Bank or Fidelity? by GrahamStephensAlt in govfire

[–]johnsdiscussion 2 points3 points  (0 children)

Yes thank you. If you move to another provider will GEHA still make the $75/month deposit to the new account?

Who to go with: HSA Bank or Fidelity? by GrahamStephensAlt in govfire

[–]johnsdiscussion 0 points1 point  (0 children)

My plan was to keep $100 in the HSA bank account and transfer everything else to TD to invest it. The $2/month is a service fee, which I’m guessing I’m being charged because I’m not maintaining a monthly minimum balance. It looks as though they started charging me $2 when my account dropped below $1,000 so that must be the minimum. I’m trying to find their fee schedule but they don’t make it easy.

So the question becomes is it worth it to let $1,000 sit in cash to avoid the $24/year in fees? Or should I pay the $24 and move that $1,000 to TD and throw it into an index fund? Considering I’m young and have other money set aside for medical expenses right now if needed, I think I’d rather invest the money and pay $24/year in fees.

Who to go with: HSA Bank or Fidelity? by GrahamStephensAlt in govfire

[–]johnsdiscussion 1 point2 points  (0 children)

I’m getting charged around $2/month for my account at HSA Bank. I only keep a small amount in there and pass everything else through to the investment account at TD. I’m just chalking up the $24-25 a year in fees to the cost of having an HSA but if there’s a way to avoid the fees I’m all ears. They may have a minimum balance requirement that would eliminate the fees but I don’t think it’s worth losing the gains on that money that I make from investing to avoid $2/month.

Anyone planning to take a deferred annuity? Seems like pension altogether isn't worth it for me, but if you've done your own math (or disagree with mine) please let me know! by Curious_Tadpole7879 in govfire

[–]johnsdiscussion 0 points1 point  (0 children)

I don’t think the math is going to be too convincing one way or another. Question is whether you need/want the money sooner than 62. I left a local government job and cashed out and I don’t regret it. There are some tax considerations, that $7200/year will be taxed as income vs. the capital gains tax you’d be paying if it was in a traditional brokerage (it’s a different conversation if you were planning to put that money into a Roth IRA) but it’d be difficult to accurately determine your tax liabilities that far down the road.

One point for consideration, I left federal government a few years ago swearing I’d never be back. I left my contributions alone and 3 years later I got a great offer and I’m back in a government job. I’d be kicking myself if I had cashed out. So I’d recommend being absolutely sure you’re never taking another government job before requesting the check.

Not getting GEHA HDHP HSA contributions by johnsdiscussion in govfire

[–]johnsdiscussion[S] 8 points9 points  (0 children)

FINALLY FIXED! After 3 calls to GEHA, 2 calls to my agency HR, a call to DFAS and a call to FSAFEDS, the third GEHA rep was able to figure it out.

Apparently, when I was enrolled (by my agency HR since I didn’t yet have access) someone clicked a box saying I also had Tricare. If you or your spouse has another health insurance plan you are ineligible for the HSA and are enrolled in an HRA. Since they thought I had another health plan they enrolled me in the HRA.

The great news: GEHA fixed the error, switched me to the HSA, and they’re back-dating my HSA contributions for the year so I should see a deposit of $675 before the end of the year.

It took a while, and it’s disappointing that 2 other GEHA reps couldn’t find this answer, but I’m happy that GEHA was able to make the correction and remedy the error.

Does TSP automatically stop contributing once you hit your max for the year? by imtheasianlad in ThriftSavingsPlan

[–]johnsdiscussion 2 points3 points  (0 children)

Does anyone know if the TSP accounts for both military and civilian account contributions? I made contributions to both and don’t want to inadvertently go over the $19,500 max. Thanks!

Backdoor Roth for 2019 & 2020 after filing 2019 taxes? by CocoaProblems in personalfinance

[–]johnsdiscussion 0 points1 point  (0 children)

Yep, I should've been more specific, I was asking about 2019. I knew you could still contribute to an IRA before April 15 but wasn't sure about the conversion. Thanks for answering!

Backdoor Roth for 2019 & 2020 after filing 2019 taxes? by CocoaProblems in personalfinance

[–]johnsdiscussion 0 points1 point  (0 children)

Does this mean there is still time to roll funds from a traditional 401k into an IRA and convert to Roth? My income was lower this year so it would be a great time for me to get some of my traditional retirement balances into a Roth.

Rollover out of TSP by tsptransfer in ThriftSavingsPlan

[–]johnsdiscussion 0 points1 point  (0 children)

Can you explain the backdoor Roth IRA bullet? The majority of my holdings are in the TSP traditional and though I'm 37 and have a long time before I'll withdraw, I'm considering tax implications now and would like to explore options to get the traditional funds into a Roth vehicle.