Exactly. People who have the means tout the benefit of the HSA because they can afford it. The rest are left figuring out how they might pay their day to day expenses. The high deductible health plan only further exacerbates their situation. The HSA is a tool for some, the vast majority who can't save enough to take advantage of an employer match will agree.
The life insurance question: For me, at a youngish 55, depending on who is judging, I have several low cost term policies that were purchased at different times as our circumstances changed. One will lapse at 61 and the last will lapse at 65. The money we saved was invested and has grown quite nicely. The Missus will likely retire in the next two years, and maybe three for me.
We do not need the insurance proceeds should the worst happen, but 20 years ago, with three young children and limited assets, it helped me sleep better. I also have coverage through work.
I need to discuss with my planner what makes sense with these policies strictly from an optimization standpoint, and not simply because we would need the payout to maintain our lifestyle. Yet still, if there is the opportunity to further optimize, I'll take it.
I don't disagree with your points here. I'd like to add the other piece of the equation is managing debt and not being stupid with spending. That then makes it so much more difficult for the worker to focus on savings when they are busy servicing a life riddled with stupid debt! I think I ranted.... sorry y'all 😞
Mark... the USA, we don't like being told what to do. Employers will claim all sorts of hardships, savers will complain that the government is being too intrusive and finally the big money will scream bloody murder unless they can find a way to profit from this set up. The joys of capitalism. I'm probably jaded, but there is a modicum of truth here.
Hi Rachna, I don't really have much to beyond the fact that you're already focusing on the things that matter such as the level of customer service and so forth. Another thing to keep in mind than other for sake of simplicity there is not much advantage rolling the funds over from the record keeper where they are. Some a better than others so the mileage does vary but there is nothing keeping from letting the funds sit where they are for now as you complete your evaluation. Just because he retired doesn't mean the funds must move now. Good luck and let us know how it turns out.
I know I'm not answering your original question but here is my take.
I would never recommend going 100% Roth. Why? Because you lose access to the tax-free bucket available from traditional accounts—roughly ~$15k to $30k per year, depending on filing status and deductions—that can be withdrawn with little to no federal tax. A 100% Roth strategy fails to take advantage of that.
Additionally, traditional accounts allow for tax-efficient charitable giving (QCDs), which can completely bypass taxes. Those are just a couple of examples of why an all-Roth strategy may not be the most efficient approach.
If you’d like, I can make it shorter, more assertive, or more educational in tone.
I get it being a first world issue. I.agree we should be grateful and not let the tax given heartburn. The alternative is an income which is so low as to make retirement more financially difficult. That's the point I think you're making. Not all agree based on the comments posted. Starting trouble again Mr. Quinn.
Oh my! As a veteran of two detachments and one macula hole repair, I can identify. This is so scary. I thankfully can still drive and so on, but because one pupil is permanently dilated the glare at nights can be challenging. Three doctor visits per year to make sure everything remains in place. The twists and turns of life. We all have a story.
This is certainly something to consider. I think this comes down to not taking an all or nothing approach and letting the inheritance do the most good. Obviously all 'good ideas' will come with its downsides such as will there be more grandchildren, what if some are more financially secure than others and then what if some are misbehaving. Goodnight though.
Comments
Thank you for this. I have to do this.
Post: New to building a CD or Bond Ladder?
Link to comment from March 1, 2026
Exactly. People who have the means tout the benefit of the HSA because they can afford it. The rest are left figuring out how they might pay their day to day expenses. The high deductible health plan only further exacerbates their situation. The HSA is a tool for some, the vast majority who can't save enough to take advantage of an employer match will agree.
Post: HSA Tips
Link to comment from March 1, 2026
The life insurance question: For me, at a youngish 55, depending on who is judging, I have several low cost term policies that were purchased at different times as our circumstances changed. One will lapse at 61 and the last will lapse at 65. The money we saved was invested and has grown quite nicely. The Missus will likely retire in the next two years, and maybe three for me. We do not need the insurance proceeds should the worst happen, but 20 years ago, with three young children and limited assets, it helped me sleep better. I also have coverage through work. I need to discuss with my planner what makes sense with these policies strictly from an optimization standpoint, and not simply because we would need the payout to maintain our lifestyle. Yet still, if there is the opportunity to further optimize, I'll take it.
Post: The $9.95 scam…
Link to comment from February 27, 2026
I don't disagree with your points here. I'd like to add the other piece of the equation is managing debt and not being stupid with spending. That then makes it so much more difficult for the worker to focus on savings when they are busy servicing a life riddled with stupid debt! I think I ranted.... sorry y'all 😞
Post: How do you really feel about 401k plans?
Link to comment from January 12, 2026
Mark... the USA, we don't like being told what to do. Employers will claim all sorts of hardships, savers will complain that the government is being too intrusive and finally the big money will scream bloody murder unless they can find a way to profit from this set up. The joys of capitalism. I'm probably jaded, but there is a modicum of truth here.
Post: How do you really feel about 401k plans?
Link to comment from January 12, 2026
Hi Rachna, I don't really have much to beyond the fact that you're already focusing on the things that matter such as the level of customer service and so forth. Another thing to keep in mind than other for sake of simplicity there is not much advantage rolling the funds over from the record keeper where they are. Some a better than others so the mileage does vary but there is nothing keeping from letting the funds sit where they are for now as you complete your evaluation. Just because he retired doesn't mean the funds must move now. Good luck and let us know how it turns out.
Post: Schwab or Vanguard?
Link to comment from January 12, 2026
I know I'm not answering your original question but here is my take.
If you’d like, I can make it shorter, more assertive, or more educational in tone.Post: What Would You Do?
Link to comment from January 10, 2026
I get it being a first world issue. I.agree we should be grateful and not let the tax given heartburn. The alternative is an income which is so low as to make retirement more financially difficult. That's the point I think you're making. Not all agree based on the comments posted. Starting trouble again Mr. Quinn.
Post: Enough with IRMAA complaining
Link to comment from December 30, 2025
Oh my! As a veteran of two detachments and one macula hole repair, I can identify. This is so scary. I thankfully can still drive and so on, but because one pupil is permanently dilated the glare at nights can be challenging. Three doctor visits per year to make sure everything remains in place. The twists and turns of life. We all have a story.
Post: You worked a lifetime, you achieved your goals, you have it all-the next day it hardly matters
Link to comment from November 26, 2025
This is certainly something to consider. I think this comes down to not taking an all or nothing approach and letting the inheritance do the most good. Obviously all 'good ideas' will come with its downsides such as will there be more grandchildren, what if some are more financially secure than others and then what if some are misbehaving. Goodnight though.
Post: Skipping a Generation
Link to comment from November 21, 2025