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HSA investing
Posted on 1/3/22 at 3:30 pm
Posted on 1/3/22 at 3:30 pm
My HSA has finally reached a threshold where I can start investing some of my balance. I use HSA Bank and their options for this are either TD Ameritrade or Devenir. TD ameritrade looks like it'll basically just be like having a regular account to trade stocks with. Devenir seems to be more geared to mutual funds. Which should I go with?
I was leaning TD Ameritrade but I don't think they allow fractional shares. I want to just put the money in an S&P 500 ETF and let it ride. Obviously that may be more difficult or annoying without fractional shares. Does anyone know if Devenir allows fractional trading or has a fund similar to what I'm looking for to grow my HSA?
I was leaning TD Ameritrade but I don't think they allow fractional shares. I want to just put the money in an S&P 500 ETF and let it ride. Obviously that may be more difficult or annoying without fractional shares. Does anyone know if Devenir allows fractional trading or has a fund similar to what I'm looking for to grow my HSA?
7
Posted on 1/3/22 at 3:48 pm to jlovel7
I can't figure out how to get the money out once its transferred to an investment account. So goodluck.
Posted on 1/3/22 at 3:58 pm to jlovel7
With the Devenir you can sweep everything over a certain balance to it and automatically invest in an allocation of mutual funds. I’m pretty sure with TD you can sweep into a Money market but have to place buy orders on stocks, much like most retirement accounts
And yes, Devenir allows fractional shares and as well as VFIAX
And yes, Devenir allows fractional shares and as well as VFIAX
This post was edited on 1/3/22 at 4:07 pm
Posted on 1/3/22 at 4:41 pm to jlovel7
I bought some shares of Apple last year with some of my HSA. I don't plan on touching it for another 15 years
Posted on 1/3/22 at 5:05 pm to jlovel7
I have my HSA with Fidelity in FXAIX don’t plan to touch it until 65 so just max it out at beginning of year then don’t pay much attention to it after that.
Posted on 1/3/22 at 5:34 pm to MSTiger33
quote:
my HSA. I don't plan on touching it for another 15 years
Whistling past the graveyard baw.
Posted on 1/3/22 at 6:04 pm to jlovel7
Mine only allows mutual funds which is annoying but I do the maximum allowed each year. Built it up to $32,000 or so. Just pay out of pocket for medical stuff. Need to find a good way to save the bills to reimburse myself decades down the road.
Posted on 1/3/22 at 6:59 pm to jlovel7
I did the Devenir thing a few years ago. they under performed massively. I just put in TD and have done better
Posted on 1/3/22 at 9:40 pm to DiamondDog
100% Vanguard total stock market index in mine.
Good, leave it alone and let it grow
quote:
can't figure out how to get the money out once its transferred to an investment account.
Good, leave it alone and let it grow
Posted on 1/3/22 at 10:13 pm to jlovel7
I use Ameritrade and it’s really easy to use. Re fractional shares, I do the automatic dividend reinvestment and buy fractional a through that. Now I don’t know if you can buy Fractionals using cash.
Posted on 1/4/22 at 7:45 am to Overbrook
Fidelity HSA here, I keep about $13-15K in the debit card type account for liquid spending as needed, all contributions have been going into select index funds and such, market performance has been decent.
But anything is better than the tiny interest rate on the 'main' account, $13K is earning about $0.11 interest/month, that's just disgraceful.
I'd like to cut the main liquid fund to $5K and invest the rest (annual medical expenses have been < 1K/yr), but going to ride it out another year and watch. Supposedly Fidelity makes it pretty easy to move $$$ back and forth from investments...haven't tried that yet.
But anything is better than the tiny interest rate on the 'main' account, $13K is earning about $0.11 interest/month, that's just disgraceful.
I'd like to cut the main liquid fund to $5K and invest the rest (annual medical expenses have been < 1K/yr), but going to ride it out another year and watch. Supposedly Fidelity makes it pretty easy to move $$$ back and forth from investments...haven't tried that yet.
Posted on 1/4/22 at 10:57 am to dakarx
I keep $1,100 in my HSA account with everything else in the investment account. Think it's about $4k or so in the investment account.
Certainly no reason to keep that much money in your main HSA account especially if you contribute regularly and spend <$1k yr from it. Minimum I believe for mine (and everyone's) is $1k in the main account and anything over $1k you can have invested. My expenses are normally less than $100 at a time, but even when it's over that and my account goes below $1k when I reimburse myself it doesnt seem to matter. My contributions to it go in twice as month as I'm paid (then company puts in contributions once a quarter as well).
I have my HSA through cigna and then the investment account is through "hsainvestments". I honestly would just keep close to minimum in the debit account and put everything you can in the investment account. I will say i havent had to move any money from investment account to main hsa account, but moving money the other way is pretty easy. I've just never had a bill to pay that was more than couple hundred bucks since I've had this HSA investment account.
Certainly no reason to keep that much money in your main HSA account especially if you contribute regularly and spend <$1k yr from it. Minimum I believe for mine (and everyone's) is $1k in the main account and anything over $1k you can have invested. My expenses are normally less than $100 at a time, but even when it's over that and my account goes below $1k when I reimburse myself it doesnt seem to matter. My contributions to it go in twice as month as I'm paid (then company puts in contributions once a quarter as well).
I have my HSA through cigna and then the investment account is through "hsainvestments". I honestly would just keep close to minimum in the debit account and put everything you can in the investment account. I will say i havent had to move any money from investment account to main hsa account, but moving money the other way is pretty easy. I've just never had a bill to pay that was more than couple hundred bucks since I've had this HSA investment account.
Posted on 1/4/22 at 11:08 am to dakarx
I keep the minimum cash required ($1K) and invest the rest in index funds.
Just checked allocations...
60% S&P 500
20% Large Cap Growth
10% Small Cap
10% Mid Cap
No international funds that have reasonable expense ratios so sticking with these.
Just checked allocations...
60% S&P 500
20% Large Cap Growth
10% Small Cap
10% Mid Cap
No international funds that have reasonable expense ratios so sticking with these.
Posted on 1/4/22 at 12:14 pm to lynxcat
I max our HSA ($7200) annually and pay for everything out of pocket vs tapping HSA funds.
Why? B/c HSA is the most "expensive" $ to utilize as it's TRIPLE tax advantaged. For anyone who doesn't know that means the contributions are tax deductible, the funds grow tax free and the withdrawals are also tax free.
Do the math on 30 years of ctax free compound interest
Be sure to save receipts over the years.
Why? B/c HSA is the most "expensive" $ to utilize as it's TRIPLE tax advantaged. For anyone who doesn't know that means the contributions are tax deductible, the funds grow tax free and the withdrawals are also tax free.
Do the math on 30 years of ctax free compound interest
Be sure to save receipts over the years.
Posted on 1/4/22 at 12:40 pm to SwampCollie
quote:
Why? B/c HSA is the most "expensive" $ to utilize as it's TRIPLE tax advantaged. For anyone who doesn't know that means the contributions are tax deductible, the funds grow tax free and the withdrawals are also tax free.
Do the math on 30 years of ctax free compound interest
While the only disadvantage is you can only use it for healthcare related expenses. Way I see it is my retirement will be mostly "free" healthcare wise because while you can only reimburse non-premium medical expenses not on medicare. Once you're on medicare, you can actually pay for your medicare premiums with HSA money which is really sweet. So building up the HSA investment account is pretty sweet as long as you can.
quote:
Be sure to save receipts over the years.
I applaud people who can actually do this. No way I could build up years and years of receipts then when some money is needed reimburse it all through the HSA. But my medical expenses are a small percentage of what I put into my HSA every year so I just reimburse myself after I incur the expense to make sure i dont forget. Just upload receipt to portal if it isnt already there as a claim and get my $25-$100 or so
Posted on 1/4/22 at 12:41 pm to SwampCollie
quote:
Why? B/c HSA is the most "expensive" $ to utilize as it's TRIPLE tax advantaged. For anyone who doesn't know that means the contributions are tax deductible, the funds grow tax free and the withdrawals are also tax free.
It's the best savings vehicle in the tax code.
Free money via 401k matching is the only other area that is more prudent financially.
Posted on 1/4/22 at 3:48 pm to thunderbird1100
quote:
I applaud people who can actually do this. No way I could build up years and years of receipts then when some money is needed reimburse it all through the HSA. But my medical expenses are a small percentage of what I put into my HSA every year so I just reimburse myself after I incur the expense to make sure i dont forget. Just upload receipt to portal if it isnt already there as a claim and get my $25-$100 or so
I'm doing this. I just take a picture of any receipt over $25 and tag it as HSA for easy lookup later.
Also when you turn 65, you are allowed to take money out of an HSA for any reason penalty free. However if it's non medical then it's taxed like income. So basically it's another IRA if you just want the money.
Posted on 1/4/22 at 6:32 pm to thunderbird1100
I upload receipts into a Google drive folder and save the originals, so I have 2 copies in case something happens to one. The HSA is actually my son’s college fund. Well a portion of it will be used for that, not all of it.
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