HSA - The Ultimate Investment Account | Never Pay Taxes!

The Health Savings Account is the ultimate investment account. The IRS has been very generous with HSA holders, and it's time for you to take advantage of these benefits! In this video I'll discuss why an HSA can be a great tool for your retirement.

Timecodes

0:00 - Intro
0:42 - What Is A HSA?
2:06 - Caveat - HSA is Not FSA
3:21 - This Is Where It Gets Awesome
3:46 - Isn’t HSA For Medical Expenses?
5:00 - So, What Should You Do To Maximize HSA?
6:04 - Bottom Line

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

[AmeliaElizabethD]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[kylen]

Another thing to keep in mind is that an HSA can also be used for assisted living, nursing homes, etc. This can end up being one of the largest expenses in retirement so it even has a one up on the trad IRA after 65

[paulnhbtx]

I max my shit out. Less owed in taxes. Such a smart thing to do

[atl]

I LOVE my HSA! I began participating 6 or 7 years ago when my employer first offered it. Didn’t fully understand it but over time, I researched it and discovered its amazing power. Been maxing it for about 4 years now and investing it also. I am the only employee at my company who invests it. Everyone else spends theirs. I have tried to enlighten some of my coworkers but they seem disinterested. Their loss. Meanwhile, mine just keeps growing and growing. Saving my receipts too! 😊

[CHNDLRvideos]

I had no idea you could reimburse yourselves with purchases in the past.

[GuitarChimp]

I’ve had an HSA for a few years now and have been using it incorrectly. This video is changing that. Thank you. Liked and subscribed. -Jerald

[pokeboya]

From the bottom of my heart (and wallet), thank you for sharing these knowledge! Keep them coming TK!

[Shoobadon]

I love my HSA, just started it in Feb 2022 once I figured out how awesome it was after being in my company after 5 yrs, still have some time to make an impact in my retirement. Thanks for the content.

[marcusmobley]

Thanks as always Tae, learned something new again about a category I was decently versed in.

[stewartwhittier]

Thanks for the great advice! I use mine just like this, great tool!

[birdenlightening]

I kept replaying what I’ve heard from you that HSA can be used for non-health expenses after turning 65. Can you confirm that’s true?

[SupportSquirrel]

I am moving away from the high-deductible plan but have a balance in my HSA. I'll be investing that but I simply can't afford the high copays with my current medical conditions (I am single as well). Still, with only a year of max contributions, I should still be able to start investing it right?

[mariog]

If spouse has own employee plan non high deductible, but I have HSA HDHP...could I use my funds to pay for her medical expenses and make my HSA into a family limit?

[bluedle]

I'm thinking about switching my NDHP to HDHP, which I will then be starting an HSA. Your suggestions sound great and all, but I think I may want to use my contributions for actual medical expenses for the next few years because we are about to have a second baby and will have 2 kids in daycare for the next 4 years. Very expensive 😬 Husband and I are still going to do 15% 401k (including company match), keep building emergency fund, going to start maxing out roth IRA this year, and avoid buying a new car for as long as possible. And a little bit into 529 when we can. Sadly we are still renting with the crazy housing market situation at the moment. Hopefully we'll be more financially stable in the future to take advantage of the hsa investment.

[N.Biddle]

I honestly have been trying to understand this for years. The fact that you said to save your medical recipients and so you can with draw money later, made everything click!

[new_capsulerxpodcast]

Great video. Do you have any recommendations on what to invest in your HSA account?

[Travelman]

Why shouldn’t you pay for your medical bills from your HSA? For example, I want to get LASIK, why should I pay out of pocket instead of with pretax dollars? Because of the compound interest over time?

[FrancescoSechi-pg]

I just started an HSA account through Fidelity and I’ll be trying to maximize it every year, how do I invest the money that’s on the account? Do I need to withdraw draw it or is there a way to invest it directly through the HSA account?

[kinerskorner]

Great video! I have been using the HSA accounts for a few years now! But I just learned something new with your video! To save my medical bills that I had paid for out of pocket then I can use the HSA money to reimburse myself down the line!!

[esbiermann]

1. I need this HSA $ now that I saved when I hav medical expenses. 2. What if I have low med expenses over my retirement and don't use it all up, then I am forced to use it for non medical expenses and pay taxes on it, correct?