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FedEx PPA Going Away
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<blockquote data-quote="Preventable" data-source="post: 4269958" data-attributes="member: 62934"><p>Oh my bad I misunderstood, your example so his/her balance is 100k and their income is 100k? Because I am pretty sure the 8% PPA credit is based on income. You're muddying the waters a little bit because you are then introducing another guy making 70k.</p><p></p><p></p><p></p><p>And sweet! 6% is honestly easy to hit. Anyone not doing that at the moment is kind of a fool. I am doing 9% just from my yearly automatic increases lol.</p><p></p><p>I realize some people struggle due to a myriad of circumstances, but this is an important thing to contribute to. Heck, you could even contribute for a couple years of matching then plunder the 401k and take the 10% hit and still come up ahead? Or am I wrong? I think the only other bad thing about that is that you are barred from contributing for a year after.</p><p></p><p>Edit: Not that I will be taking advantage. I am quite happy letting my contributions go up to 10% get the 3.5% match and keep my PPA...</p><p></p><p>I am also going to max my roth for the year, but not really sure what to do after that. I have about 10k set aside for a potential house down payment, but from what I've gathered funding the HSA to max (~3000 I think) is a smart choice.</p><p></p><p>The rules and regulations surrounding HSA's are pretty intimidating though, well that + the account options don't seem as plentiful/easy to use/cheap (seems most have fees). </p><p></p><p>Probably can't afford to save more after that even maxing the HSA might be a stretch.</p></blockquote><p></p>
[QUOTE="Preventable, post: 4269958, member: 62934"] Oh my bad I misunderstood, your example so his/her balance is 100k and their income is 100k? Because I am pretty sure the 8% PPA credit is based on income. You're muddying the waters a little bit because you are then introducing another guy making 70k. And sweet! 6% is honestly easy to hit. Anyone not doing that at the moment is kind of a fool. I am doing 9% just from my yearly automatic increases lol. I realize some people struggle due to a myriad of circumstances, but this is an important thing to contribute to. Heck, you could even contribute for a couple years of matching then plunder the 401k and take the 10% hit and still come up ahead? Or am I wrong? I think the only other bad thing about that is that you are barred from contributing for a year after. Edit: Not that I will be taking advantage. I am quite happy letting my contributions go up to 10% get the 3.5% match and keep my PPA... I am also going to max my roth for the year, but not really sure what to do after that. I have about 10k set aside for a potential house down payment, but from what I've gathered funding the HSA to max (~3000 I think) is a smart choice. The rules and regulations surrounding HSA's are pretty intimidating though, well that + the account options don't seem as plentiful/easy to use/cheap (seems most have fees). Probably can't afford to save more after that even maxing the HSA might be a stretch. [/QUOTE]
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