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06.14.2022 - Debt

Attendees Rating:

Excellent (77%)
Average (19%)
Below Average (4%)

Comments
Here are comments from listeners:

Very interesting topic to enhance my knowledge of the use of HSA's to client's financial circumstances.
- James

I didn't know that we could use HSA medical expense reimbursement in the future and not the year you incurred the over counter expense!
- Heather

All of it was great. Greg did a great job of laying out how/when the HSA contribution is better than getting an employer match on 401k. Slides helped his explanation a lot.
- J. Chris

It was an eye-opener to learn that HSA contributions can be more impactful than 401k matching!
- Elise

"Learned something that maybe I should have known beforehand:

Folks still pay FICA tax on Pre-tax 401K contributions

HSA contributions are taken out BEFORE FICA tax"
- Lance
The Rank Order of Investing and Paying Down Debts
Presented by Greg Geisler, PhD, CPA (Inactive), Indiana University
Greg Geisler

Surprisingly, the tax savings on many employees’ contributions to a health savings account (HSA) increases wealth by more than a 50% employer match on the same employees’ 401(k) contributions. Join Greg Geisler, PhD, CPA (inactive) for a look at provide the financial planning tools needed to assess HSAs as a wealth maximization option, where available. It also provides the tax-efficient rank ordering that maximizes wealth by comparing contributions to HSAs, Roth and traditional retirement accounts, and 529 accounts, as well as for paying down debts.

Attendees Comments:

Here are comments from listeners:

Very interesting topic to enhance my knowledge of the use of HSA's to client's financial circumstances.
- James

I didn't know that we could use HSA medical expense reimbursement in the future and not the year you incurred the over counter expense!
- Heather

All of it was great. Greg did a great job of laying out how/when the HSA contribution is better than getting an employer match on 401k. Slides helped his explanation a lot.
- J. Chris

It was an eye-opener to learn that HSA contributions can be more impactful than 401k matching!
- Elise

"Learned something that maybe I should have known beforehand:

Folks still pay FICA tax on Pre-tax 401K contributions

HSA contributions are taken out BEFORE FICA tax"
- Lance