I want this nightmare to be over.

[librarylady]

[QUOTE=Gailete;361932]I got a book to read and review on Amazon and it was about retirement saving. For the first time, the fog cleared on the Roth IRA, as I had never understood what was the difference between it and a regular IRA. Of course we always try to not spend our retirement funds ahead of time, but some of us living to close to the edge (by circumstances, not spending choice) need to know what we can do if we really need more cash and don't want to borrow.

Hi, I've been following this thread with interest. Wondering what the name of the book was that you reviewed. I don't understand these IRA's either. Want to start saving.

[Petunia 100]

They did an xray and the bone is not infected so far, just the soft tissue. They gave him IV antibiotics and he has to go in tomorrow to get more.

Glad to hear the infection didn't make it to the bone.

[Petunia 100]

[QUOTE=librarylady;362021]

I got a book to read and review on Amazon and it was about retirement saving. For the first time, the fog cleared on the Roth IRA, as I had never understood what was the difference between it and a regular IRA. Of course we always try to not spend our retirement funds ahead of time, but some of us living to close to the edge (by circumstances, not spending choice) need to know what we can do if we really need more cash and don't want to borrow.

Hi, I've been following this thread with interest. Wondering what the name of the book was that you reviewed. I don't understand these IRA's either. Want to start saving.

You know you can ask any old question you like in the forums.

[Gailete]

I loaned the book to my son, so I will have to research which book it was as it did take out cobwebs. Some who reviewed it didn't like some of her assumptions on how to actually invest their savings, but the setting out each investment vehicle in clear language sure helped me. I'll try to find the name of that book later.

[librarylady]

I loaned the book to my son, so I will have to research which book it was as it did take out cobwebs. Some who reviewed it didn't like some of her assumptions on how to actually invest their savings, but the setting out each investment vehicle in clear language sure helped me. I'll try to find the name of that book later.

Okay! Thanks

[Gailete]

Goodness, I can't believe it has been close to a year since I read that book! Any how here is the link to it on Amazon. You might want to try getting it from your library as well.

http://www.amazon.com/gp/product/0132963035

[FrugalSensei]

Try looking into a Health Savings Account (HSA). I know you said money is tight but if you're looking for 401K investments then I presume you have some ability to put money aside. I don't know a lot about HSA's, hence the suggestion to 'look into it,' except that they allow you to put money aside for health-related expenses and that amount is not taxed. So if, for example, you make 24K but put 3K into the HSA then you only have to report 21K as income.

Best of luck to you and your hubby.

[hamchan]

He has one, but we have to be careful how much we put into it because it does not roll over from one year to the next and there is a huge (like 20% on top of the regular taxes) penalty for withdrawing from it.

[disneysteve]

He has one, but we have to be careful how much we put into it because it does not roll over from one year to the next and there is a huge (like 20% on top of the regular taxes) penalty for withdrawing from it.

That is not an HSA. It might be some type of flexible spending account. An HSA does rollover and money can accrue and serve as a supplemental retirement account if not spent before then.

[hamchan]

You are correct. I just asked him and it's an FSA.

[hamchan]

Well I am glad you said that, Steve, because I had always thought a FSA and HSA had the same terms. I looked into it and our plan qualifies as high deductible, so we're going to open a HSA tomorrow and ditch the FSA at the end of the year. There just isn't enough benefit to a FSA to justify keeping it.

[Gailete]

Well I am glad you said that, Steve, because I had always thought a FSA and HSA had the same terms

One of the best things about this website, is learning something new or correcting misconceptions

[librarylady]

Goodness, I can't believe it has been close to a year since I read that book! Any how here is the link to it on Amazon. You might want to try getting it from your library as well.

http://www.amazon.com/gp/product/0132963035

Thanks Gailete for the link to the book. It looks interesting. I will put it on my wish list and/or see if the library has it.

[hamchan]

Well, the infection itself seems to be subsiding, but not before it ate a 2cm hole through his foot, nearly to the bone. He has to go to wound care appointments twice a week for now, and he cannot walk on it any more than is necessary, which means I get to do all the grocery shopping myself for who knows how long in addition to all the other housework. We're also going to have to pay for taxis to take him to work on the mornings he has to be there earlier than the buses start running.