School has started!
In 6 months, I learned how to create my own pension plan without a lot of money. The cool thing was it did not involve the stock market or an annuity…. Summary: I’m using two tools to easily create my own pension plan that can […]
Funding A College Education? Remember, or Forget the 529? When 529 plans first hit the scene, circa 1996, they were big news. Nowadays, they’re a common part of the college-funding landscape. But don’t forget about them — 529 plans remain a valid means of saving […]
So, I like to get to the point. Here’s the link to the Free Social Media Marketing Class. Next, I’ll describe exactly what it is. I’m rebelling against the norm where you have to read a ton of fluff to get to the point. So, […]
Last night I started to do some Facebook advertising. While setting it up, I noticed this one small area asking me to link my Facebook pixel. At first I ignored it, I thought I was in a rush… Social Media Training Day 2 Section 1.2 […]
“But… I sell things offline…” “But… I’m in the eCommerce space…” “But… I have a service-based business…” No more “buts” about it! We have proven over the last 10 years that the Perfect Webinar blueprint literally sells anything and everything. If you’re selling eCommerce products […]
So I moved here from a big city. I have a great job, it’s a nice corporate job. I look around where I am now and I see that there’s a big income big gap. There are people that commute at least hour to make […]
What are my character flaws? No one likes someone that’s perfect. Or, believes they’re perfect and you definitely know they’re not. For those of you curious as to why I’m doing this?… It’s because I’m taking a free online marketing class. At the end of […]
So what is a parable? A simple story used to illustrate a moral or spiritual lesson. All great teachers teach in parables because it takes a simple concept and makes it easier to understand and remember it’s like a pneumonic term. All of the questions, and […]
So, it’s been a long break. But I’m back again going through the training. I know I can do it but for some reason I just continue to skip it. So decided to start again and actually go to the training and see if this […]
As a full time employee, every year I have to decide on my health insurance plan. And, every year I do this, I am amazed at how much money goes towards insurance, that honestly is never used. Of course, this is for protection, blah, blah, blah… but if I never use it, it just disappears.
I always wondered if there was a way around it, and there is. Not too long ago, I decided to use a High Deductible Insurance plan with an HSA (Health Savings Account). I was so excited I did.
Also, if you’re a divorced dad, this technique is even better if your kids are healthy. Why? Because if you’re like me and have to pay half of the medical expenses, the ex will have to split it… and you will have money in the account to pay for the expenses. If the cost of services does go up, the ex will have to help cover the rest.
So, here is my plan. I’m still young and don’t need a lot of benefits now, but will in the future. I figured, how can I take the money I’m spending now and use it in the future. So, I decided to invest in the HSA and take the money from today and use it in the future. I can do this because the HSA does not have to be spent every year like a Flexible Spending Account (FSA)
How I did it. Because I was used to paying a certain amount monthly, I decided to keep that amount going forward. For ease of use, let’s say it’s $500 a month. Then instead of putting that 500 strictly towards insurance, I would split that up towards insurance and the HSA. Example is below.
Straight Insurance, no FSA or HSA
Insurance, plus FSA
Insurance, plus HSA
I used the above plan for years and was able to save a lot of money. Now, this is risky as though you will have a higher deductible. But, if you can go about a year or more without any real medical expenses, you will be able to save up enough to cover your entire deductible and more.