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How is scanning receipts a hassle? Or heck, downloading a PDF from your insurance carrier? I can download all medical bills and prescriptions at the end of the year with a couple clicks... I suppose if your goal isn't to save enough for your future (15% of 135k = 20.25k, so over SloMo's 401k limit, and 20% is over his Roth limit too) then using HSA dollars now is the best option. We can continue this discussion longer if needed. The real question is was the spending last month worth it. And why are you lying to yourself about your expenditures for this month? SiGmA_X fucked around with this message at 23:41 on Jul 10, 2014 |
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Jul 10, 2014 23:38
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I'm pretty sure the real question is why SloMo is still associating with the ex-wife who burned down his bathroom, let alone buying her groceries.
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Jul 11, 2014 00:22
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Not even a question for me. Slow motion is a broken creature with a crass materialistic world view, no capacity for delayed gratification and genuinely horrible financial acumen.
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Jul 11, 2014 01:22
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Could you please disclose how much money you spent on July 4th weekend? I've got money riding on this.
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Jul 11, 2014 01:39
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nevermind
Droo fucked around with this message at 02:02 on Jul 11, 2014 |
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Jul 11, 2014 01:59
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Good luck for today SloMo I'm rooting for you! Those long hours of study will be paying off soon!
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Jul 11, 2014 06:25
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Slow Motion posted:PS. Thanks for bringing some financial literacy to this thread. I appreciate it. About time
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Jul 11, 2014 13:19
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SlowMo, pass or fail?
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Jul 11, 2014 13:43
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wins.
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Slow Motion posted:If I was the cartoon in your head I would be fired, broke, and starving right now. In my experience people get sustained for a lot of reasons even when they are grossly incompetent. Perhaps the fact that you show up for work, which is a huge deal, is your last card and you should not take too much liberty with the leave.
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Jul 11, 2014 14:05
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Pass = Blow money on celebration Fail = Blow money on self-medication Who loving cares.
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Jul 11, 2014 14:53
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a worthy uhh posted:Pass = Blow money on celebration Wait, self medication and celebration are the same to SLowMo, so Pass = Fail. Good to know.
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Jul 11, 2014 15:41
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Bisty Q. posted:Slow Motion, post your loving candidate number Or are you afraid? Aristotle Animes posted:The fact that you made a mind bleeding disorganize spreadsheet with errors and counting next months income against this month's expense doesn't speak well of you. Actually, knowing that he's an actuary this all makes a lot of sense. In my experience actuaries are only good at one thing: passing tests. They have absolutely no concept of business ideas or why you'd want to do thing over the other. Or how real actual people read things. It's the most BEEP BOOP COMPUTE profession I can think of. Actuarial work isn't even hard, they just gate it behind these mind-numbingly pointless exams. I think SlowMo's terrible knowledge of finance/making spreadsheets/life really helps demonstrate this. axeil fucked around with this message at 16:42 on Jul 11, 2014 |
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Jul 11, 2014 16:38
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Slow Motion posted:If I was the cartoon in your head I would be fired, broke, and starving right now. When reality doesn't fit your perception it's you who is in error, not reality. God help you lad.
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Jul 11, 2014 16:54
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I mean, lets face it, he failed the exam. If he had passed, he would have posted it by now along with his candidate number to prove it. Sorry to hear it SloMo. As much as I don't understand your motivation and spending habits, failing something you worked hard for always sucks.
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Jul 11, 2014 17:44
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Hey, I'm good at passing tests. Does one need to be baller to be an actuary, or can the common folk do it too?
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Jul 11, 2014 18:07
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Grumpwagon posted:I mean, lets face it, he failed the exam. If he had passed, he would have posted it by now along with his candidate number to prove it. Old Fart posted:Hey, I'm good at passing tests. Does one need to be baller to be an actuary, or can the common folk do it too? All you need to do is love staring at Excel macros all day long and dealing with insufferable coworkers like SloMo. Most of my math major buddies who went into the field left within a couple of years because it's mind-numbingly boring, meaningless work. It's something you do to make money then get out as quickly as possible before your soul gets sucked completely dry. Or, you know, something you do forever because you can't stop wasting money on Red Bull. I thought the same as you, and passed the P-exam when I was in college, the first one at least isn't that hard (it's mostly probability/stats type stuff). Then my boyfriend at the time did an actuarial internship and talked me out of even considering it as a career.
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Jul 11, 2014 20:32
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It's possible he passed and is celebrating/balling rather than running to the internet to prove it to us, I suppose. I want to believe, SloMo. Also, I thought actuary ranked pretty high in those job satisfaction surveys, although who knows how meaningful those are, I guess.
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Jul 11, 2014 20:55
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Ninja Bob posted:It's possible he passed and is celebrating/balling rather than running to the internet to prove it to us, I suppose. I want to believe, SloMo. I'm pretty sure SloMo would rank himself pretty high in job/life satisfaction in a survey.
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Jul 11, 2014 21:04
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Learned something good and new about HSA accounts. I'm now less interested in using one for eye surgery!moana posted:Well I'm not believing him even if he does this now, he can just pick some rando number that passed to "prove it". SloMo is above something that is simply clear-cut unambiguous dishonesty. Also - Do you give the candidate number out to employers when you need to prove that you passed an exam? It would be interesting if they googled it and came across this thread... I don't blame him for not wanting to give it out.
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Jul 12, 2014 07:00
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CountOfNowhere posted:Also - Do you give the candidate number out to employers when you need to prove that you passed an exam? It would be interesting if they googled it and came across this thread... I don't blame him for not wanting to give it out. No, you get a transcript from SOA that you would give to an employer.
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Jul 12, 2014 14:57
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CountOfNowhere posted:Learned something good and new about HSA accounts. I'm now less interested in using one for eye surgery! Why wouldn't you want to use it if you have a HDHP which allows you to put money into an HSA tax free? Even more so if your employer puts some money into the account. My last 2 jobs paid for my wife and me to have lasik due to their additional contributions, super sweet deal. Even if they didn't it would be tax free money.
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Jul 12, 2014 15:55
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spwrozek posted:Why wouldn't you want to use it if you have a HDHP which allows you to put money into an HSA tax free? Even more so if your employer puts some money into the account. My last 2 jobs paid for my wife and me to have lasik due to their additional contributions, super sweet deal. Even if they didn't it would be tax free money. He plans to save his invoice for his eye surgery until he is 65 and then reimburse himself for it, allowing him to presumably invest the HSA money without paying tax on gains in the meantime. But are you really already maxing out 401k and IRA and HSA? $17,500 into a 401k and $5500 into an IRA and $3300 into an HSA is like $26,000 a year if you are single not even counting other potential things like profit sharing, ESPP, SEP IRA if you have 1099 income, etc. And it's a lot more if you're married. I guess to me it just seems weird to be saving at least $25k per year per person into retirement, have enough money extra to pay large medical expenses out of pocket, and still really care enough about relatively small medical expenses to build a 40 year plan around them. And this is coming from someone who tallies up all his sales tax throughout the year because it will probably save me $300.
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Jul 12, 2014 17:23
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I choose to believe that SloMo passed the exam with flying colours, has been on a crazy celebratory baller binge since getting his results, and took out a mortgage on scorpion condo in a blind drunken drugged up haze. Don't let me down, SloMo.
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Jul 12, 2014 17:34
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Droo posted:He plans to save his invoice for his eye surgery until he is 65 and then reimburse himself for it, allowing him to presumably invest the HSA money without paying tax on gains in the meantime. I'm with you there. I just got to the point this year of maxing my 401k, Roth IRA, ESPP, and should have maxed my HSA... might still do a one-time contribution to do so but I still don't fully understand how to use Form 8899 and the resulting tax consequences at year end. Partly because the investment options for my HSA all have relatively high ERs (Chase  ), partly out of laziness because I'm already doing everything in the above paragraph, and partly because my typical annual qualified medical expenditures are less than what my employer's contributions sum to (I always forget about their contributions to the 401k and HSA), I'm just paying for those expenses directly out of the account and going on with my life.It's that whole "perfect is the enemy of good enough" thing.
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Jul 12, 2014 17:46
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Droo posted:He plans to save his invoice for his eye surgery until he is 65 and then reimburse himself for it, allowing him to presumably invest the HSA money without paying tax on gains in the meantime. This is us. But we're not saving receipts? We're just assuming that we'll probably have one big medical emergency in our lifetime or we'll use it up having a in home nurse when we retire. If none of that happens, we can pass it on to our children or just treat it as a traditional ira past 65. Tax free gains are pretty sweet, they increase your upside decently. We have vanguard index fund options with ours, so we're pretty happy. We don't expect a huge change in the hsa laws which do not grandfather in money or have some sort of available exit strategy based on history. Rurutia fucked around with this message at 17:55 on Jul 12, 2014 |
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Jul 12, 2014 17:50
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All this talk about maxing retirement amounts is making me sad that I have $0 in any retirement funds whatsoever at age 33 :I Thanks law school!
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Jul 12, 2014 17:50
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LemonDrizzle posted:I choose to believe that SloMo passed the exam with flying colours, has been on a crazy celebratory baller binge since getting his results, and took out a mortgage on scorpion condo in a blind drunken drugged up haze. Don't let me down, SloMo. Yes, let's all hope this happened: http://www.theonion.com/articles/man-wakes-up-from-bender-with-financial-problems-s,19858/ Even if he did pass, I guarantee he'll offset it with some crazy unpredictable move.
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Jul 12, 2014 20:06
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MrKatharsis posted:Yes, let's all hope this happened: Probably not unpredictable. He'll buy a condo have payments of $2.5k plus another $500-700 in condo fees because any place that he'll like will be a luxury condo.
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Jul 12, 2014 20:27
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Droo posted:He plans to save his invoice for his eye surgery until he is 65 and then reimburse himself for it, allowing him to presumably invest the HSA money without paying tax on gains in the meantime. LemonDrizzle posted:I choose to believe that SloMo passed the exam with flying colours, has been on a crazy celebratory baller binge since getting his results, and took out a mortgage on scorpion condo in a blind drunken drugged up haze. Don't let me down, SloMo.
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Jul 12, 2014 20:32
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SiGmA_X posted:There is a reasonable difference in end value with a Roth vs Traditional due to timing of taxation, and even more so with HSA being entirely tax avoiding... If you have $4000 and you contribute it annually to an IRA, the net after-tax result when you are 65 will be exactly the same if the tax rates are the same when you contribute and when you withdraw. Since no one can possibly predict what tax rates will look like when we are 65, you can't predict the difference in the two. A roth can be considered "better" since you can effectively contribute more to it than to a traditional retirement account. An HSA is only "entirely tax avoiding" if you use it for qualified medical expenses. If you take withdrawals from it for non-medical expenses, it will be treated like a traditional IRA with tax and potential penalties.
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Jul 12, 2014 20:45
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Droo posted:An HSA is only "entirely tax avoiding" if you use it for qualified medical expenses. If you take withdrawals from it for non-medical expenses, it will be treated like a traditional IRA with tax and potential penalties. Before 65. So... exactly like a traditional IRA. Are you arguing that a traditional IRA is inferior to taxable investment accounts? I know some people like to be 'tax diversified' in their investments, which is fair. But, I don't think that's what's going on here with SloMo. Rurutia fucked around with this message at 21:28 on Jul 12, 2014 |
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Jul 12, 2014 21:21
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Edit: I need to re-read docs like that on a computer vs my phone before posting on the interweb. 3 paragraphs earlier and it explains its counted as income. I still argue that it is worthwhile for SloMo due to his income level and cost of funding the Roth, and the fact that he has bills exceeding or equal to his HSA level as it is. SiGmA_X fucked around with this message at 00:52 on Jul 13, 2014 |
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Jul 12, 2014 22:52
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SiGmA_X posted:http://www.irs.gov/pub/irs-prior/p969--2013.pdf That is talking about the 20% penalty you pay for non medical expenses in addition to counting the distribution as income. You will always pay income tax on HSA distributions used for non medical expenses, even after you are 65
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Jul 12, 2014 23:17
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I spent most of what I earned in my twenties on drugs and guns. SloMo, thanks for making me feel better about the money I put up my nose.
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Jul 13, 2014 03:13
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moana posted:
P and FM aren't that difficult conceptually, tbh, the trick to the prelims is mainly to be able to study enough to know all the short-cuts and to do error-free work. The upper levels, at least on the CAS side, are really loving hard - arguably pointlessly so. The Career itself is fine, once you get past the entry-level type stuff. But the actuaries who are just good at passing tests and don't have business sense definitely stand out.
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Jul 13, 2014 19:14
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Failed with a 5. Possibly one point (out of 87) off passing. Oh well. I started studying again this morning for the November sitting. It's at least encouraging that for the first time since before I was married I've made a good faith effort on an exam. Now back to the regularly scheduled grind of mad hours, mad spending, and debt paid off by large bonuses.
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Jul 14, 2014 15:49
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Watch out everyone, we've got a rising star here! Do partners in the firm have to pass these exams?
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Jul 14, 2014 15:52
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When's your next performance review?
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Jul 14, 2014 15:53
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Ah man that's too bad, SloMo. Good luck next time. Spermy Smurf posted:Do partners in the firm have to pass these exams?
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Jul 14, 2014 15:53
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FrozenVent posted:When's your next performance review? December. I had a glowing review last month. Taking on so many hours early in the year took a lot of stress off of rest of my teams.
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Jul 14, 2014 16:00
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