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16 Responses

  1. krantcents says:

    HSA and FSA accounts should be checked for balances in December to clear it out by year end.

  2. PKamp3 says:

    Slightly OT – but I got married in August, so my HSA limit doubled (and my monthly contributions more than tripled). It was pretty funny to figure out my new exemptions and still have a ‘take-home pay cut’ with the HSA contributions.

    My taxes are going to be a mess this year…

  3. MoneyCone says:

    Good move Buck! One reason I hate anything with a recurring maintenance fee.

  4. J.D. Roberts says:

    My brother had a health emergency a few years ago that set him back significantly. I believe having your own emergency fund is absolutely essential. Its amazing how quickly a visit to the ER and two nights in a hospital can put you in a debt equivalent to purchasing a new small car. Long story short, he had to file for bankruptcy and almost lost his home. I advise everyone try to stash away at least 10K to weather any unpredictable storm that arrives.

  5. Good advice. Over a lifetime, the number of accounts we have open grows enormously!

  6. I wonder if you could argue that since you were not funding the HSA, there was no maintenance required? Naaah, prolly a waste of time. We have 529 accounts established for our children and the default annual fee is the max, for out-of-state residents. I have to contact them manually to request a fee reversal and prove that we are residents. This happens regularly as the State changes administrators ALL THE TIME. K, rant over.

  7. 101 Centavos says:

    *HATE* maintenance fees on inactive accounts. It’s a bit like taxation for unused services, isn’t it?

  8. KATHLEEN says:

    Savings accounts are advantageous as a place to store money that won’t see immediate use. Savings are usually linked to checking accounts, which provides extra liquidity in case you need the money right away.Traditionally, some savings accounts carry higher interest rates than checking accounts, but rates are near historic lows right now. There many popular types of premium savings accounts that earn higher rates of interest. Investment and Money Market accounts earn the best rates, and they always exceed standard savings accounts, often by a favor of double or more. This ties into what the minimum deposit is too.

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