Hi there!

US Immigrant here and trying to navigate the financial/retirement landscape.

Could someone kindly explain to me why I keep hearing people talking about maxing out their HSA and then using it to invest? I thought HSA was just a way to have pre-taxed dollars available for medical expenses?

Any books or resources I could learn about this stuff? Kind of like US retirement and investing for dummies haha.

like
Posting as :
works at
You are currently posting as works at

You can also save your bills and "expense" them anytime. This is great for early retirement access where you want the money but can't pull it out as standard retirement yet.

For example, let's say your thirty. You can invest your HSA dollars and let them grow tax free, while paying out of pocket for medical bills, pregnancy, dental, etc. Then 20+ years later, after your money has doubled a couple of times, you want to retire at 50. You can submit those 20 years of receipts and pull that amount from your HSA to essentially get your medical treatment for free and to help tide you over until retirement age when you can pull the rest out and get social security, etc.

But its the best retirement vehicle because of it's triple tax benefit. No (income) tax on money going into the account. No (capital gains) tax on the growth. No (income) tax on money going out of the account.

likehelpfulsmart

This is really helpful, thank you!!

Tax Secrets of Health Savings Accounts https://www.wsj.com/articles/hsa-taxes-health-savings-accounts-11664493292

like

HSA is for medical expenses but when you retire can be converted, essentially!

There probably is a retirement for dummies in the US book

You can carry your HSA into retirement and use it on med expenses in retirement. Retired individuals are provided with govt healthcare but usually will incur a good amount of expenses to live "comfortably."

Related Posts

Hi Fishes,

I have previously worked for Reliance Jio, couldn't withdraw my PF money. How can I get that now ?

What is the best platform for cryptocurrency?

likefunny

Real estate Tax question: I have a personal property and investment property in Florida. I am about to pay one off. Should I pay off the investment property or the personal home?

like

How are these 100% remote positions working? Is anyone living in one state and working in another? I’m wondering about tax consequences and bar admission in particular. Appreciate any insights!

likehelpful

I am so sick and fed up with some of the older clients at my job. I know it's my responsibility to take care of them, but they're just so sexist sometimes.

like

For EESP - which is better share withholding or payroll withholding? Thoughts?

like

Why so red? Any stocks good to buy now?

like

What would you say is the minimum amount of money that your household would have to make before considering to have two babies?

like

I have got an offer based in Boblingen, Germany with 60k euro as fixed. Will it be enough for a couple with a 3 year old kid ? My major expense would be accommodation, groceries, kid’s school and transportation. Please do let me know your valuable inputs. TIA

like

Guys - Any good insurance suggestion for parents that covers both Canada and US and good number of in-network doctors. Father might need to get checked up here as he got sick last time he was here

Hi 🐠, connecting documents for I-485 filling. Any insight on the medical check? I don't have vaccination records. Is this required?

like

Hi folks - anyone here is a realtor or was a realtor in Toronto before? Looking to chat with people who have the experience.

like

Has anybody invested in Yamuna gaur city or planning to do so?

like
like

Misled on Maternity Leave Policy. I found out I only get 4 weeks pay for maternity leave (STD +“sick days”). I will take 12 weeks but wont get paid for 8 weeks. I work for a US, west coast based company in the tech/VC industry. Their website claims to offer “paid parental leave and other progressive benefits for parents”. I didn’t find out until after I was hired their pay was only 8 weeks but since I have been at the company less than 12 months, I don’t qualify for their policy. Is this unfair?

like

Building out private investment platform for a growing company. Where can I find example docs of allocation policies, expense policies, etc. in order to create my own? Are there any good resources?

like

Noogler question: are approved Amex expenses from concur directly paid by google to Amex? Or I gotta to pay? My expense was approved but has not yet been fully received in my account..

like

Hello Autodeskers,
I wanted to understand how RSUs work in your favour? I mean if I am getting rsus amounting to 40% of my package, and another company is matching the package with all fixed, should I still choose Autodesk package? How about selling them and taxation? Is it really beneficial or risky?

like

Hike
I am facing some health issues. How many paid sick leaves i can avail in nagarro,,??

like

I’m leaving my job soon but I’m wondering if I should be truthful when I hand in my letter of resignation. There’s a ton of reasons but it boils down to: I’m worth more than they can pay me and I need to pay off these student loans. What should I say?

like

More Posts

Hi Fishes,
Can someone tell me the shift timings at Tiger Analytics? I have heard that they have flexible shifts is 8-5 possible?

like

Can anyone help me with the average pay range of business consultant at Societe Generale?

like

What companies easily start gc applications ?

like

What would you all say are the best consulting firms to work at in the federal government space? I’m not sure how many “prestigious” firms (like MBB) have a significant federal practice at all.

likefunny

Any pointers for Novartis data engineer manager role the questions asked and tge case study

Given crazy market returns recently, do you still expect the market to rise at 10% over the next 30 years?

like

Has anyone come to you for help?

Remember that these people asked Allah first, and Allah gave them your address for you to help them.

like
like

Can someone tell me when to expect
offer letter from PWC after they
request for the documents? Also for US
tax profile they are providing permanent
wfh, do they provide a document for
that?

like

Recent immigrant and about to buy a car - insurance company said it would take 2 weeks to process my application. Is this normal? In the US I insured my car with one 10min phone call, so was a bit surprised

funny

Is a 900k net worth for a single person at almost 40 good or terrible? I see posts from our US counterparts on net worth and salary and feel so behind yet we have such a high COL in Toronto.

like

Can anyone at Monitor clarify what overtime pay looks like? How often do Cs actually qualify? Recruiter gave a pretty cookie cutter answer. Would appreciate some insight. Thanks

likefunny

Just did an initial phone interview at Cloudflare last week for a position in SEO. Does anyone have experience working at or with Cloudflare to tell me more about what they’re like?

like

Hey All, I am new to this bowl. I am interviewing for Client Consulting Analyst position for the NYC office. Can anyone kindly guide me what to expect in the interview rounds?
Thank you 🙏

like

For those looking to get into Consulting, there’s a new platform called Profesh that has short videos and reads that explain it in simple terms, and lay out how to break in. Everything is less than 3 mins. Super helpful to learn about it in chunks between doing things. Give it a try!

like

Sometimes I don't uphold the company mission 😱

like

SA1 to SA2 in PWC is a promotion or progression ?
If it's a progression will the resource get the progression by default after an year of joining ?

like

Anyone's Senior Manager reached out for retention bonus ? I had a connect with my SM and they're offering me a retention bonus for 1 year kn February salary.

Wanted to see whether it's a firm wide initiative.

like

What is the work that an Associate Consultant does in the Deal Advisory team? I have an interview for the same role.

like

Additional Posts in Consulting

Ratings on three projects - 3,2,2. Utilization - 90%... Proposal hours - 15... Firm activities - 43 hrs... I then get a YE rating of 4 😕 ... How worried I should be regarding the layoffs???

like

When SM doesn't know what he wants in the proposal:- 1)timeline is where we should put the timeline and approach is where you put ummm approach 2) i want this at a high level but with a lot of details

like

MY TUMI LOST A WHEEL. 😭 I didn't think this could happen.

like

Interested in a San Francisco/Bay Area networking/support group for consultants that have been laid off?
See comments for more details

likeupliftinghelpful

Hey all, new hire here! Going to receive a $250 wfh credit; any recs on what I should get to build out my home office?

like

Looking for book recommendations; any favorites? Interested in both fiction and educational/self-improvement (for example, investment / finance books, time management, etc). I feel my vocab is...

like

Best consulting firms for PE work (CDD,Value Creation)? Looking for the best firm for exit ops to PE ops eventually. Thanks!

like

Notice there are so many people with debate experience in consulting. Kinda impressed. Any highly recommended books related to debate or communication in general?

like

FAANG ranking: Google, Netflix, Facebook, Apple, Amazon. Is this correct?

like

Just curious- do other people take 1-2 week long trips purely for Biz dev purposes?

like

How difficult is it to get a Clearance if you were born in Cuba (or any other non-NATO country/ally) but moved to the USA when you were a kid? I’m a USA Citizen, and from my understanding, I can’t give up my Cuban citizenship by Cuban law -___-

like

Under trump tax plan: earn 120k, pay 33% taxes, net pay is 80k. Earn 112k, pay 25%, net pay is 84k. Approaching a salary bump, what would you do?

like

I think I am about to witness a very hairy restaurant staff orgy. Last call is weird.

like

Bain fish, does anyone know how utilization in North America is trending for this year?

like

So I’ve been studying for the AWS cloud practitioner certification for a month now and completed all cloud quest levels but still not feeling 100% confident. Has anyone tried the exam question dumps ? There are so many websites but not sure which one is the most reliable one as all of them you would have to purchase such as pass-guaranteed, certwizard, etc.. any recommendations is greatly appreciated

like

First trip to Atlanta in a couple of weeks for a training. Staying at the Westin Peachtree. Anyone have recommendations for fun places to drink/things to do?

like
like

My office chair stinks even though I wash it with carpet cleaner every few weeks. Fellow 24/7 WFH workers, how do you keep your office chair clean?

likefunny

Suggested books or resources to learn more about strategy consulting? Different analysis, acronyms, etc.

like

Lots of us are skilled at delivery but most sales books seem to focus on the pitch and closing... What are your best resources for learning to develop and nurture strong, lasting client relationships?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal