HSA Investments (common MISTAKES to AVOID) - YouTube

Since you're watching this video, I imagine that you

are setting yourself up for financial success,

and you're building your wealth. You're doing everything you know

in order to have a successful financial life. Nice work!

And, I see some really common mistakes made every single day...

when it comes to HSA investments. I'm going to cover those in this video today.

Thank you for watching this video. Thanks for taking charge of your wealth.

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you! After watching this video you will know what mistakes to avoid

with your HSA investments. Stay 'til the end...

I have money expert tips very few people talk about.

I am a CERTIFIED FINANCIAL PLANNER and your Money Expert.

For over 13 years I've been working with self-employed and business owners

to help build their wealth. Now it's your turn.

Let's talk about those HSA investments. Number one mistake:

Don't assume your employer decides on how you spend your HSA money.

Your money inside your HSA is yours. It's not your employers.

It's not your hsa custodians. It is yours -- you decide how you spend it.

There are HSA eligible expenses. There's a link below

on what is eligible to take HSA money for and spend it tax-free.

However, that money is still yours and it rolls over from year to year. I'm going

to talk about that a little bit more, but number one that money is not your

employers-- it's yours and you get to decide if you

spend it, save it, or invest it. There's mistake

number two: Don't assume that your HDA funds are

automatically invested because they're not. Just because you put money

into your HSA doesn't mean that the money is actually

invested the way you want it invested. Now most HSA custodians require that you

keep one thousand-two thousand dollars in the account, in cash, for things that

you might just need to spend that on, but the rest of the funds can actually be

invested and used towards your retirement. Here is

your Money Expert tip: Your HSA funds (HSA investments,) call them

what you wish, they roll over year to year! They are

yours that continue to roll over from year to

year. If you change health care plans and your new health

care provider has an HSA with an HSA custodian that they prefer,

you can take your HSA from your old plan and roll it over

tax deferred to your new plan. Let me know in the

comments below by typing the word "INVEST" if you want to

learn more about HSA investing and how it works!

Mistake number three: HSA custodians. Quite often your high deductible health

plan with your insurance company has a preferred HSA company

that you are required to use. However, some plans do not have a preferred,

and you can choose any HSA company that you like.

I have some links below on for HSA bank. You can also Google

HSA accounts to find a custodian. A custodian is

a financial institution that keeps track of your monies going into the HSA

account, and money that is coming out. They actually generate a tax report each year

for you to file with your taxes, so they keep track of your HSA

activity in terms of what comes in and what goes out.

Now you know about the mistakes to avoid with your HSA and

HSA investments, but do you know if an HSA is actually

the right vehicle for you??? If you don't I've got a guide a guide that walks you

through everything you need to know about HSA's.

You can download it here (below.) If you learned something about HSA's

today, let me know by liking this video! And subscribe to my

channel so you can get future tips on money, finances, everything

you need to know about money success! If you have

questions put them in the comments below. I read your comments and I love to

answer your questions! Thank you for watching!

Keep building your wealth. I'll see you soon.