Some of the episodes in my new podcast series Teaching You to Fisch (Spotify, Apple Podcasts, YouTube) include spreadsheets I’ve created to illustrate particular topics. Some of them are modifications of spreadsheets I’ve used before and some are newly created. Because not everyone is going to choose to watch/listen to the podcasts (they are really missing out, of course), I decided I also should make individual blogs posts that just highlight the spreadsheets. That way some folks may be able to use them who otherwise wouldn’t bother with the podcast.
The fourth spreadsheet is Medical and Dependent Care FSAs (when you click on the link it will ask if you want to make a copy, click “Make a copy” to get an editable version). The basic idea is to demonstrate how much in tax savings many people are giving up by not “bothering” utilize their Medical FSA and/or their Dependent Care FSA.. It also shows how much those savings will grow to if you invest those savings over time (with a default of 30 years). The spreadsheet has some sample FSA contributions and tax rates already listed, but you will want to change those to match your situation.
If you want a more detailed walk through of how to use the spreadsheet, this links directly to the specific spot in Episode 6 where I illustrate how to use it (roughly from 20:53 to 24:09 of the video). This exercise illustrates that many people are leaving a lot of money on the table (actually, with the IRS) that could instead be invested and help them achieve their financial goals.
Fisch Financial 