Great information! I'm in my early 30's and am trying to plan my path to early retirement. This was very helpful in explaining some of the options early retirees have.
(1)You pay out of pocket for medical expenses but save all your medical bills(2) use medical bills to get reimbursed from HSA (3) Live off reimbursement money. Note: you can save medical bills for years before getting reimbursement. Hence the ability to use reimbursement to help retire early.
There are no minimums needed to start a Roth IRA with the majority of companies. Some companies may have minimums to buy specific funds or to open an account, however.
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Great information! I'm in my early 30's and am trying to plan my path to early retirement. This was very helpful in explaining some of the options early retirees have.
Ken R
Can you use a Roth 403b in a conversion ladder. It seems everyone uses a traditional 401K for this.
You can't live off of HSA money if you retire early, you're penalized for pulling that out for anything other than qualifying medical expenses, right?
(1)You pay out of pocket for medical expenses but save all your medical bills(2) use medical bills to get reimbursed from HSA (3) Live off reimbursement money. Note: you can save medical bills for years before getting reimbursement. Hence the ability to use reimbursement to help retire early.
Thank you for the Roth IRA info Paula. Isn't there a minimum needed to start the Roth IRA? I didn't hear you mention that, but perhaps I'm mistaken.
There are no minimums needed to start a Roth IRA with the majority of companies. Some companies may have minimums to buy specific funds or to open an account, however.
You can become a rapper if everything else fails :-)