Hi,
So I was wondering if I could roll an IRA to a HSA. So I get to 26 USC 408(d) and I see it's not much use unless you don't have any money. Then I see I don't need earned income to contribute to a HSA. I just need a HDHP and that looks like something I might have in retirement. I see from 1040 and 8889 that my contributions would just deduct from my investment income in retirement.
I wonder if anyone has talked about that and I end up here! Looks like a great resource.
So I still work. I keep thinking I need more just in case anything goes wrong. I have been living off investment income for two years because I eat up all my income in 401k, IRA, HSA and the risky deferred compensation.
Well I will be 50 toward the end of this year (yah! greater 401k etc contribs).
I have no mortgage on ~$400k home.
Married with 2 kids 6 and 10.
Fully funded 529 plans for them (not sure $100k+ each).
Roth IRA/Roth 401k ~$509k
IRA / 401k tax deferred (no basis) ~$484k
Deferred comp ~476k
Taxable investment $4.5M
Some small foreign pensions.
All told ~$6M.
I am pretty sure I can quit anytime but I haven't done any serious calcs beyond just living off the portfolio. Don't spend any money. Use coupons, discount gift cards and buy stuff on sale etc.
Still like work but you know when you really think about it is hard and you have to deal with all kinds of rubbish to make progress.
I believe in passive investments. Low cost ETFs. 38% bonds, US/International, REITs, Munies, various inflation protected bonds (TIP, ITIP).
Thanks.
Neil.
So I was wondering if I could roll an IRA to a HSA. So I get to 26 USC 408(d) and I see it's not much use unless you don't have any money. Then I see I don't need earned income to contribute to a HSA. I just need a HDHP and that looks like something I might have in retirement. I see from 1040 and 8889 that my contributions would just deduct from my investment income in retirement.
I wonder if anyone has talked about that and I end up here! Looks like a great resource.
So I still work. I keep thinking I need more just in case anything goes wrong. I have been living off investment income for two years because I eat up all my income in 401k, IRA, HSA and the risky deferred compensation.
Well I will be 50 toward the end of this year (yah! greater 401k etc contribs).
I have no mortgage on ~$400k home.
Married with 2 kids 6 and 10.
Fully funded 529 plans for them (not sure $100k+ each).
Roth IRA/Roth 401k ~$509k
IRA / 401k tax deferred (no basis) ~$484k
Deferred comp ~476k
Taxable investment $4.5M
Some small foreign pensions.
All told ~$6M.
I am pretty sure I can quit anytime but I haven't done any serious calcs beyond just living off the portfolio. Don't spend any money. Use coupons, discount gift cards and buy stuff on sale etc.
Still like work but you know when you really think about it is hard and you have to deal with all kinds of rubbish to make progress.
I believe in passive investments. Low cost ETFs. 38% bonds, US/International, REITs, Munies, various inflation protected bonds (TIP, ITIP).
Thanks.
Neil.