***Lively has started charging $24 or forces you to hold a minimum of $3,000 in their HSA. Due to this change, I do NOT recommend them any longer. Please do not use this company. A Fidelity HSA is currently free at this time***
An HSA (Health Savings Account) is one of the best investment accounts available to someone pursuing Financial Independence or Early Retirement. Although the name has "health savings" in it you should treat it like a "health investment" account to get the full benefits they offer.
Someone who isn't pursuing FIRE can still take advantage of the benefits as well. When you use an HSA account you get access to triple tax savings. Not only do you avoid paying taxes when the money goes into the account, but you also skip out on paying taxes on the growth of your investments and when money is withdrawn from the account.
The fact that you're able to invest money within an HSA is another added bonus as well. If you instead use this account as an additional retirement account by investing the money then you could grow your account to over $300,000 as a single person or over $680,000 as a family.
In this video, I'll break down everything you need to know about an HSA and how to turn it into the ultimate wealth building machine.
The 5 biggest HSA mistakes too many people make: [ Ссылка ]
Fidelity HSA: [ Ссылка ]
Index Fund Investing Explained: [ Ссылка ]
HSA qualified medical expenses: [ Ссылка ]
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💵 All Things Investing Playlist: [ Ссылка ]
📕 Learn How To Budget Playlist: [ Ссылка ]
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Disclaimer: This video is for entertainment purposes only. Everyone's situation is different so do your own research before making any decisions with your money. If you need help then contact a Certified Financial Fiduciary before trying anything that is mentioned in this video. I prefer a Fiduciary financial advisor that charges an hourly fee as opposed to an ongoing fee based on a % of your portfolio. Always remember that incentives determine the type of advice they give you so one that charges an hourly fee is less likely to be problematic.
#HealthSavingsAccount #HSAAccounts
