Show 84- Investing in an HSA with Eric McClarey
In this episode, I talk with Eric McClarey about the power of investing in an HSA for retirement.
5/7/20251 min read
There are so many different options when thinking about investing that it can be hard to know the right one. The HSA may be the best option for retirement IF you are willing to put in the work. That is the problem, everything has a caveat. So if you want to know why the HSA is incredible, and the work necessary to make it the perfect retirement account, you’ll want to check out this episode.
Show Notes
Previous Episode with Eric about Dual Income
Episode with Karl Fisch about Pensions
Ally Bank High Yield Savings Accounts (affiliate link)
Recommended Books (Amazon Affiliate Links)
Never Pay the First Bill: And Other Ways to Fight the Health Care System and Win
Key Ideas
The HSA is not the FSA, and, for retirement investing, the HSA is the only option.
Not all HSAs are created equal. Some have high fees that can make investing in them untenable.
The way to take advantage of HSAs by paying out of pocket for medical expenses this year.
The math behind whether or not an HSA plan is the right health plan for you.
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
If you’re not maxing out the HSA for retirement, you can still use it to save on taxes. Most employers have a relatively simple process for changing your HSA contribution. So if you have a large medical bill, increase your HSA contribution by that much, and once it goes through, turn around and pay the bill (then immediately reduce the contribution). New medical bills can wait a month for you to get things situated, so take the slower route and save yourself some taxes!