All Forum Posts by: Svetlana Kleinhenz

@David Dachtera You are super helpful! Thank you for sharing your knowledge and wisdom!

@Nancy P. It is a good news! Thank you. Do you know if no health insurance affects my tax return somehow?

@Matt Millard  I am 46, my husband is 60..... We are pretty healthy, but maybe our age is one of the reasons of high rates...

What is a state insurance? Could you please tell me where I can learn more about it?

@Richard Sherman Got it! Thank you!

@Zachary Paschke  Thank you so much for your offer! Yes, I would like to talk to you and get your professional opinion! I will send you a PM with my contacts.

I think that you have plenty of money to start investing right now! If you take FHA now and buy a multi family house, you will not just save money on rent - you will be getting a lot of extra income and saving much more every month! In a year from now, with all your assets and savings, you will easily buy a $400,000 house with the conventional loan, rent out all the units in your first house, and will grow your wealth exponentially. It is absolutely realistically for you to get financial independence in 5-7 years.

Good luck! 

@Richard Sherman Thank you so much for such detailed practical advice!!! I am going to follow it and I will tell you the results. 

The one thing I did not get is why should I cash out the whole one only after the term is in place?

Here is what I found in previous BP discussions about medical insurance. Sounds like a great idea. Has anybody tried to do it?

I encourage you to talk to a local independent agent and look into a Healthcare Savings Account. You buy a policy with a very high deductible with very cheap rates. Then you bank the difference in an IRS approved savings account. The amount contributed each year is tax deductible and it grows tax free. You pull from that when you need to pay for something and you have not met your yearly deductible.

HSA is basically a traditional IRA, which also has an allowance to pull for medical bills without the early withdrawal penalty of 10%. Then later in life any unused amounts and any income earned on it is still yours and still tax free.

@Jay Hinrichs 2k a month sound horrible! What do you get for this money?? Don't you think that if you just saved 24k a year, you would feel equally protected?

@Tim Herman Thank you for your advise! Sorry for you wife. Is she ok now? 

I don't quite understand what are you recommending - whole or term? Could you please, explain it to me?

You wrote: You must have whole life policies rather than term. 10 year level term would most likely be less than $500 per policy per year for $500000.