It's great to have you following along with us, Jordan. It feels like everything is coming together. I can't wait to see how the compound effect plays out in just a few years. I'm hooked! :)
The HSA and the triple-tax advantage was something I learned about exclusively from my co-workers. Just another way I benefited from being around financially savvy mentors who had already done the leg-work, and pushed the company to switch to a high-deductible plan to my eventual benefit. And it wasn't until hearing them describe the HSA to new employees last year that the triple-tax advantage really hit home. Now I try to pay my medical expenses with my liquid funds and leave the HSA balance to grow tax-free as much as possible. I didn't do this for the first 5+ years.
I'm glad you've found out about it too and are spreading the knowledge, Darnell.
That's an awesome testament to the significance of mentors. I love hearing that people were kind enough to take time to help you better understand a resource at your disposal. I wish more people did, and I wish I listened more whenever people might have tried schooling me.
Triple Tax Advantage. 99% of financial people say to max out your HSA just after making sure you get any employer match (free money).
Sounds like a winning plan to me.
It's great to have you following along with us, Jordan. It feels like everything is coming together. I can't wait to see how the compound effect plays out in just a few years. I'm hooked! :)
The HSA and the triple-tax advantage was something I learned about exclusively from my co-workers. Just another way I benefited from being around financially savvy mentors who had already done the leg-work, and pushed the company to switch to a high-deductible plan to my eventual benefit. And it wasn't until hearing them describe the HSA to new employees last year that the triple-tax advantage really hit home. Now I try to pay my medical expenses with my liquid funds and leave the HSA balance to grow tax-free as much as possible. I didn't do this for the first 5+ years.
I'm glad you've found out about it too and are spreading the knowledge, Darnell.
That's an awesome testament to the significance of mentors. I love hearing that people were kind enough to take time to help you better understand a resource at your disposal. I wish more people did, and I wish I listened more whenever people might have tried schooling me.