Exactly which money market fund and which stock index fund are you using?Both Fidelity and Schwab have a few MM funds paying a little over 5% now.
One time I heavily traded in my taxable acct. and the 1099 was 18 pages and made my tax return MUCH more difficult for just a little profit.
For 2 years, my Wife and I both had High Deductible Health plans and put money into an HSA. We are retired now and grateful for $22K each to use tax free for Dental etc.
I am 70, retired Dentist of 41 yrs, and I understand your feelings about caring for you mouth in retirement. My Wife and I both had about $24K each in our HSA and use it exclusively for Dental. Fortunately, I have excellent Dental health, having only a few cavities in 70 years. Like "batperson" describes, most retires will spend their Dental money on wear and tear, fixing old, leaking or re-decaying problems. The best way to avoid this is FLOSS EVERY DAY, since most all adult problems start BETWEEN the teeth. This is your best prevention, since your first cavities started years ago. The Dental plans for Medicare will not help much if you have major Dental work needed. Best, like I do, is find a great Dentist who has the in-office plan for 2 free cleanings and all x-rays each year, and 20-25% off any fillings, crowns, implants etc. That will be your best spent money.
I joined the Navy in Oct. 1971, one year after turning 18. I went to GA State at night while on active duty at the Naval Air Station Atlanta to take the required courses to enter Dental School at the Medical College of GA. My 6 year enlistment ended 1 month after I started Dental School. When a young person at Home Depot tells me "thank you for your service" as I get my 10% Military Discount when checking out, I proudly tell them of my service and make a point to say that I have made more money from my 10% discount than I ever made in the service. I tell them of the base pay at entering as E-1 was $111.00 per month. Of course you got all the food you could eat! I went in a 28"waist and came out 6 yrs. later at 34." As a Dentist for 41 years, I did see those Gulf War Reservists who came into my office terrified when they were called up. They were told that ANY tooth in their mouth needing ANY treatment would be extracted when they reported, as there would be NO Dental care anywhere near where they would be stationed. My draft lottery number during the Vietnam War was 289, so I was safe from the draft. I JOINED to serve and am SO GLAD I did serve 6 years.
I have filed the appeal twice successfully. The first time was before COVID and I filled out the appeal and took it with my current tax return that I just filed showing my income had gone back down to below penalty level and went to my local Soc. Sec. office and gave it to the employee and he took it from there. Took about 2 months to get new non-penalty premium. Second time was during COVID shutdown so I mailed it in to the same office. Took about 2 months again. Try Cert. Mail instead of telephone, or just show up at open time, sign in with reason for visit, then get seen within 30 min.
I have a 529 plan for my Granddaughter (I am the owner) and would like to point out one important thing to watch for. She is in the 10th grade now. What I have read over the years is that if a Grandparent owns the 529 plan, ownership should be TRANSFERRED to a Parent at least by the 10th grade. The reason for this is that the Federal financial application Fafsa that is filled out to apply for college assistance, scholarships and loans is based on the parent's income in the 11th and 12th grades and assistance from Grandparents. If the 529 money is owned by a Grandparent, it counts AGAINST the child on the Fafsa, but if it is owned by the parent, it does not count against what the child can get. Something to consider if college assistance is needed.
Comments
Exactly which money market fund and which stock index fund are you using?Both Fidelity and Schwab have a few MM funds paying a little over 5% now. One time I heavily traded in my taxable acct. and the 1099 was 18 pages and made my tax return MUCH more difficult for just a little profit. For 2 years, my Wife and I both had High Deductible Health plans and put money into an HSA. We are retired now and grateful for $22K each to use tax free for Dental etc.
Post: Messing Us Up
Link to comment from December 2, 2023
I am 70, retired Dentist of 41 yrs, and I understand your feelings about caring for you mouth in retirement. My Wife and I both had about $24K each in our HSA and use it exclusively for Dental. Fortunately, I have excellent Dental health, having only a few cavities in 70 years. Like "batperson" describes, most retires will spend their Dental money on wear and tear, fixing old, leaking or re-decaying problems. The best way to avoid this is FLOSS EVERY DAY, since most all adult problems start BETWEEN the teeth. This is your best prevention, since your first cavities started years ago. The Dental plans for Medicare will not help much if you have major Dental work needed. Best, like I do, is find a great Dentist who has the in-office plan for 2 free cleanings and all x-rays each year, and 20-25% off any fillings, crowns, implants etc. That will be your best spent money.
Post: Paying Those Premiums
Link to comment from September 17, 2023
I joined the Navy in Oct. 1971, one year after turning 18. I went to GA State at night while on active duty at the Naval Air Station Atlanta to take the required courses to enter Dental School at the Medical College of GA. My 6 year enlistment ended 1 month after I started Dental School. When a young person at Home Depot tells me "thank you for your service" as I get my 10% Military Discount when checking out, I proudly tell them of my service and make a point to say that I have made more money from my 10% discount than I ever made in the service. I tell them of the base pay at entering as E-1 was $111.00 per month. Of course you got all the food you could eat! I went in a 28"waist and came out 6 yrs. later at 34." As a Dentist for 41 years, I did see those Gulf War Reservists who came into my office terrified when they were called up. They were told that ANY tooth in their mouth needing ANY treatment would be extracted when they reported, as there would be NO Dental care anywhere near where they would be stationed. My draft lottery number during the Vietnam War was 289, so I was safe from the draft. I JOINED to serve and am SO GLAD I did serve 6 years.
Post: Learned in Uniform
Link to comment from August 23, 2023
I have filed the appeal twice successfully. The first time was before COVID and I filled out the appeal and took it with my current tax return that I just filed showing my income had gone back down to below penalty level and went to my local Soc. Sec. office and gave it to the employee and he took it from there. Took about 2 months to get new non-penalty premium. Second time was during COVID shutdown so I mailed it in to the same office. Took about 2 months again. Try Cert. Mail instead of telephone, or just show up at open time, sign in with reason for visit, then get seen within 30 min.
Post: Crotchety Aunt IRMAA
Link to comment from July 1, 2023
I have a 529 plan for my Granddaughter (I am the owner) and would like to point out one important thing to watch for. She is in the 10th grade now. What I have read over the years is that if a Grandparent owns the 529 plan, ownership should be TRANSFERRED to a Parent at least by the 10th grade. The reason for this is that the Federal financial application Fafsa that is filled out to apply for college assistance, scholarships and loans is based on the parent's income in the 11th and 12th grades and assistance from Grandparents. If the 529 money is owned by a Grandparent, it counts AGAINST the child on the Fafsa, but if it is owned by the parent, it does not count against what the child can get. Something to consider if college assistance is needed.
Post: Grandpa’s Scholarship
Link to comment from March 26, 2023