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The Structural Engineering Podcast

Episode 82 - Financial Engineering

Feb 23, 2024
Engineer turned financial planner, Ryan Sullivan, shares tips on financial success, managing money wisely, and navigating job offers. He discusses effective budgeting, debt management, health insurance, and investment strategies. Highlighting the importance of setting financial goals and starting financial planning early for a successful career.
01:02:07

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Understanding the difference between high and low deductible health insurance plans is crucial for healthcare financial planning.
  • 401k plans are essential work benefits that provide tax advantages and long-term retirement savings growth, complementing traditional salaries.

Deep dives

Different Types of Health Insurance Plans: Traditional vs. High Deductible

When considering health insurance, there are usually two main types to choose from: traditional plans with lower deductibles and high deductible plans. Traditional plans offer low deductibles but higher premiums, making them suitable for individuals with regular high medical expenses. On the other hand, high deductible plans require out-of-pocket payments initially, but can be beneficial for those with fewer healthcare needs. High deductible plans often come with Health Savings Accounts (HSAs) that offer tax advantages and long-term benefits.

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