What is Liquid Term? Liquid Term indicates the number of years you could live on your current liquid assets. "Liquid assets" refers to money that is not in a retirement account. This includes cash accounts (checking and savings) and nonretirement investment accounts...
Most people do not have a great way to monitor their finances and assess their financial health. Tools like Mint and Personal Capital let you see all your accounts in one place and track your spending. This helps to some degree, but it falls short in answering key...
Investing your HSA for retirement means skipping the default cash account and investing in stocks instead. Here's how. Most HSA Money Is Not Invested Money in a Health Savings Account (HSA) goes into a risk-free cash account by default. This is because most people use...
There are three types of investment accounts. This article gives examples of each type and how it is taxed. Types of Investment Accounts The three types of investment accounts are: Pre-tax. Tax-free. Taxable. Pre-Tax and Tax-Free Pre-tax and tax-free accounts are also...
When can you withdraw from your IRA? This is really a three-part question: When can you withdraw? What tax will you owe? What penalty will you owe? See also our companion post: When can you withdraw from your 401(k)? When can you withdraw from your IRA? You can...
If you're savvy enough to use your HSA for retirement, here are some HSA pro tips to squeeze out the most value. Save receipts You should be paying current medical expenses from your bank account, not your HSA. But you'll want to reimburse yourself from your HSA in...
Most people spend their HSA money on current medical expenses. This is fine, but using an HSA for retirement is even better! HSA as a retirement account A Health Savings Account (HSA) lets you deduct your contributions, and pay medical expenses tax-free. Thus, an HSA...
What is an HSA? A Health Savings Account (HSA) is a powerful tool to save on medical expenses. You deduct your contributions on your tax return, and pay medical expenses tax-free. Background HSAs were first available way back in 2004. They were little-used for many...
When can you withdraw from your 401(k)? This is really a three-part question: When can you withdraw? What tax will you owe? What penalty will you owe? When can you withdraw from your 401(k)? First, let's take a step back and look at different retirement accounts you...
Taxes are the largest single expense for retirees. You can lose anywhere from 0% to 50% of your retirement assets to taxes. This post explains how to pay lower taxes in retirement. What is tax diversification There are multiple different types of accounts that...
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