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Jillian Nel

CFP®, CDFA™
Personal Finance, Retirement, Insurance
81%
Helpful
22
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4
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6
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“Jillian Nel, a CERTIFIED FINANCIAL PLANNER™, directs a financial planning practice for Legacy Asset Management, Inc. Jillian is committed to educating and empowering clients and the general public about the importance of financial planning.”
Firm:

Legacy Asset Management

Job Title:

Principal & Director of Financial Planning

Biography:
Education:

BS, Business Administration, University of Colorado at Boulder

Assets Under Management:

$340 million

Fee Structure:

Asset-Based

CRD Number:

5055280

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November 2018
October 2018
December 2017
December 2017

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    Insurance
Are there disadvantages to having both a flexible spending account (FSA) and a health savings account (HSA)?
100% of people found this answer helpful

No it should not since you will be using your FSA funds for different expenses.  The government doesnt want taxpayers double dipping by using the FSA to pay for medical expenses and then using the same expenses as justification for a reimbursement from an HSA.  Use your FSA for your healthcare expenses and your wife can use her HSA for her expenses.  

An even better strategy would be to maximize contributions into the HSA and not use the funds for any healthcare expenses until retirement (so long as cash flow permits this savings expense).  Let the funds accumulate and grow over time.  Most HSAs have the option of investing a portion into a set of mutual funds or other diversified holdings. I recommend you dont invest it all, leave some in cash to the tune of a2 years or so of deducitibles in case you have a medical emergency.  As this money grows overtime in the HSA - you will create a tax free (tax exempt growth as well) bucket to draw off of in retirement for health care related expenses.  You will never have too much in an HSA with the projected cost of healtcare in retirement.  

 

May 2018
    Retirement, Social Security
Are Social Security benefits withheld because of excess earnings returned to you in monthly installments when you reach full retirement age? 
100% of people found this answer helpful
June 2018
    Retirement, IRAs, Retirement Plans, Women & Money
Should I convert my two 403(b) accounts into a Roth IRA?
100% of people found this answer helpful
August 2018
    Banking, Debt, Financial Planning, Retirement, 401(k)
When selecting funds to invest my HSA dollars, should I be looking for funds that pay a quarterly/annual dividend, or should I invest my dollars in a growth fund to take advantage of the decades of work I have left until retirement?
100% of people found this answer helpful
3 weeks ago
    Retirement, Social Security
How do I determine the expected benefit amount I will receive from Social Security if I retire at 59.5 years old instead of the projected 67 years old?
50% of people found this answer helpful
March 2018