401K plan

[HugoStrange]

6 hours ago, Variety_Pullayya said:

 

hmm. i need to rethink. i just felt its hard to estimate future medical expenses considering we dont know where we will retire. 

i guess we can take the money by paying the taxes after retirement if we dont really need it for medical expenses. 

 

We can even use the HSA money in India for medical expenses.

[Pahelwan4]

7 hours ago, krishnaaa said:

HSA is a must. You can invest your money in HSA.

I pay medical bills out of pocket and and keep the receipts and claim them from HSA much later.

Claimed a medical bill from 5 years ago last week when I needed money

Its better to let money grow tax free. Never get in the way of compounding.

What? You can claim the money you paid from HSA. I didn’t know that. I have paid so many thousands from HSA. 

[akkum_bakkum]

9 hours ago, krishnaaa said:

HSA is a must. You can invest your money in HSA.

I pay medical bills out of pocket and and keep the receipts and claim them from HSA much later.

Claimed a medical bill from 5 years ago last week when I needed money

Its better to let money grow tax free. Never get in the way of compounding.

Lucky buooyy! Maaka option ledankul. Health premium is fully paid by my employer for all family.

[Konebhar6]

2 hours ago, Pahelwan4 said:

What? You can claim the money you paid from HSA. I didn’t know that. I have paid so many thousands from HSA. 

You probably read it wrong. 

If you have not paid a bill from your HSA, you can claim it. If you already paid for a bill from HSA, you cant claim it. 

However I have seen HSA literally does not even ask for bills. This is the first year I am in it. Have to see year end if they ask for proof or not. 

If not, next year nundi chelaregipotham 

@krishnaaa Any inputs on this?HSA so far has not asked for any bills. or proof of receipt. Do they ask year end? How do they even know? 

[alexsmith]

HSA plan konni companies lo same year use cheyali antaru.. lete u will loose anta. Is it true?

[krishnaaa]

46 minutes ago, Konebhar6 said:

You probably read it wrong. 

If you have not paid a bill from your HSA, you can claim it. If you already paid for a bill from HSA, you cant claim it. 

However I have seen HSA literally does not even ask for bills. This is the first year I am in it. Have to see year end if they ask for proof or not. 

If not, next year nundi chelaregipotham 

@krishnaaa Any inputs on this?HSA so far has not asked for any bills. or proof of receipt. Do they ask year end? How do they even know? 

There is an option for attachments and I always upload receipts.

People do take risks....but I don't want to do it here.

One of my friends claimed deduction for Trad IRA but forgot to open it. 

He got the deduction and its been more than 10 years. Things do slip....but once they get a doubt , they start looking at everything.

[Konebhar6]

11 minutes ago, alexsmith said:

HSA plan konni companies lo same year use cheyali antaru.. lete u will loose anta. Is it true?

Not true. It’s your money that can be used anytime. If not when you are 59, it can be converted to an IRA account

[karna11]

On 12/17/2024 at 2:29 PM, ManchamKodi said:

meeru investment chestunara uncles

Invest chestee H1B's AND GC cancel chestaraaaa

[Silent_Boy]

13 hours ago, alexsmith said:

HSA plan konni companies lo same year use cheyali antaru.. lete u will loose anta. Is it true?

Bro, those are FSA not HSA.  FSA funds should be used in same year. 

Two types of FSAs

Health-Flexible Spending Account

Dependent Care-Flexible Spending Account

[ManchamKodi]

22 hours ago, karna11 said:

Invest chestee H1B's AND GC cancel chestaraaaa

citizenship untndhi no

[Tellugodu]

23 hours ago, alexsmith said:

HSA plan konni companies lo same year use cheyali antaru.. lete u will loose anta. Is it true?

Adi, FSA. Flexible spending account, different from HSA.

[kittu_123]

On 12/18/2024 at 6:04 AM, krishnaaa said:

Consulting. No match.

I still max out 401K

@krishnaaa. Consulting lo 401K Ela cheyali? After tax money to ROTH IRA lo chestuna nenu

[krishnaaa]

12 hours ago, kittu_123 said:

@krishnaaa. Consulting lo 401K Ela cheyali? After tax money to ROTH IRA lo chestuna nenu

Your employer should provide.

My desi ex employer is providing But I am no longer with him as I have GC.

I am on W2 for prime vendor. They are providing.

[rmJU72]

On 12/18/2024 at 11:06 AM, sarfaroshi2 said:

Do you have a grt investment plan to earn more than 15% - 20% reutrns every month consistantly...then dont go for 401k.

You can take 401K loan upto 50k anytime and the intrest rate will go back to your own 401k account.

Nuvvu timepass ki adigithe ok.....kaani manam karchu pette waste expenses ki intha discuss cheyyam...employer 6% match chestu unte...manaki future security avasarama ani discuss cheyadam waste. 

All investments need not be in the same bucket of high risk.
401k is one bucket where you get to put pretax and you forget it for avg of 10%. Use the rest for other buckets like HSA, Roth IRA, 529, and then comes your 20% investment idea bucket.

[HugoStrange]

On 12/18/2024 at 9:26 PM, alexsmith said:

HSA plan konni companies lo same year use cheyali antaru.. lete u will loose anta. Is it true?

you are talking about HRA not HSA. Both are not same