If you have a Health Savings Account (HSA) and you have upcoming medical expenses, it may be difficult to know when how best to pay for them. This HSA investment strategy conundrum is a question that Mike is going through recently. Here's his question:
I'm wondering what advice you'd give on how to best utilize an HSA account.
My wife and I recently had a baby and the big bills are starting to come through. I have recently started contributing the maximum allowable contribution to our HSA but have been paying everything out of pocket while the balance builds. The HSA is currently invested in various Vanguard index funds.
Does it make sense to save receipts, allow the HSA to grow and compound to withdraw in a few years or is it smarter to withdraw as the funds are deposited from my paycheck so I can continue tackling my mortgage as aggressively as I can?
To help me answer Mike's HSA question, I invited Ashlee deSteiger, CFP on the show. As the founder of Gunder Wealth Management, Ashlee is well-versed in the nuances of family finances and how best to utilize the HSA for long-term wealth building.
Check out our collective response to Mike's question in the podcast player at the top of the page.
Ashlee deSteiger and I review the following:
- What is an HSA and how to get one
- How investing works with an HSA
- Why it's important to invest for your future healthcare needs
I'm all about the HSA as a stealth way to build your wealth and protect your family! Ashlee helps clarify the details and gives Mike some HSA investment strategy options that may help you as well.
LISTEN AND SUBSCRIBE ON:
Guest Bio – Ashlee deSteiger
Ashlee deSteiger CFA, CFP®, CPA founded Gunder Wealth Management, LLC (GWM), an independent registered investment advisor, in 2019.
Ashlee’s drive to consistently challenge herself professionally and desire to be part of the advice-driven, technology-focused movement within the financial planning space led her to start her own firm.
Ashelee deSteiger Resources
- Website: GunderWealth.com
- Social: Instagram
Other Content You Might Like
- HSA vs. 401k: How to Prioritize Your Investments
- The Triple Tax Advantages of an HSA
- What is an HSA? And Why Your Family Needs One
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Carpe Diem Quote
“Define success in your own terms, achieve it by your own rules, and build a life you’re proud to live.”― Anne Sweeney
What's your HSA investment strategy? What do you think of the advice from Ashlee deSteiger?
Please let me know in the comments below.
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