So, I'm trying to figure out how much I can save with a FSA between now (Jan 2025 enrollment) and retirement (age 65). I understand that you have to stop contributing when you take medicare at age 65, with some exceptions. For simplicity I'll assume I stop at age 65 in February 2028 and that the max contribution limits do not increase, so $8300 + $1000 catch-up = $9300. Also I'll ignore gain or lose.
2025 (age 62) = $9300
2026 (age 63) = $9300
2027 (age 64) = $9300
2028 (age 65) = ($9300/(2/12)) = $1550
TOTAL = $29450
Do these calculations make sense?
2025 (age 62) = $9300
2026 (age 63) = $9300
2027 (age 64) = $9300
2028 (age 65) = ($9300/(2/12)) = $1550
TOTAL = $29450
Do these calculations make sense?
Statistics: Posted by MedEngineer — Wed Oct 23, 2024 6:17 pm — Replies 7 — Views 353