Main Street Business #525 3X Your HSA: The Secret To Supercharging Your Wealth
Sep 3, 2024
33:29
In this latest episode of the Main Street Business Podcast, host Mark J. Kohler explains the strategic benefits and mechanics of Health Savings Accounts (HSAs). Unpack the tax advantages, flexible contributions, and the array of investment opportunities available through HSAs. From cryptocurrencies to real estate, learn how to maximize your HSA for both health and wealth.
Here are some of the highlights:
- Mark explains how an HSA is portable and can be set up with any employer or as an entrepreneur.
- Mark breaks down the 2024 contribution limits: $4,150 for singles, $8,300 for married filing jointly.
- Users have the ability to invest HSA funds in various assets (e.g., cows, crypto, rental property)
- How HSAs can be used for retirement at age 59.5 if not used for medical expenses.
- Two investment options: Traditional HSA with limited investment choices and Self-directed HSA with broader investment options.
- The importance of reimbursing yourself for past medical expenses.
- Potential for higher returns compared to traditional investments
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