2102: What Is An HSA & Why Your Family Needs One by Andy Hill

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 16 November 2022

⏱️ 11 minutes

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Summary

Andy Hill of Marriage Kids And Money talks about the value of HSAs Episode 2102: What Is An HSA & Why Your Family Needs One by Andy Hill Andy Hill is a husband and father to two awesome (and crazy) kids and they hail from the great state of Michigan. His goal is to give his family the best life possible and strengthen their family tree for generations to come. In 2016, he got so geeked about this topic of young family finance that he decided to start a blog and podcast about it. It began as a hobby and then morphed into a fun side hustle when people started to enjoy the information he was sharing. Fast forward to today, he’s left his corporate event marketing career behind and is now a full-time blogger and podcaster who has been featured in major media outlets like CNBC, Kiplinger’s Personal Finance and NBC News The original post is located here: https://marriagekidsandmoney.com/protect-your-health-and-wealth-with-an-hsa Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 202.
0:04.8	What is an HSA and why your family needs one?
0:08.3	By Andy Hill of MarriageKidsInMoney.com and I'm your host and personal finance enthusiast,
0:14.5	Diana Mariam.
0:16.0	Now let's get right to it and continue optimizing your life.
0:24.1	What is an HSA and why your family needs one?
0:27.6	By Andy Hill of MarriageKidsInMoney.com
0:32.1	When I started my new job in 2013, I immediately signed up for the company 401k program and
0:38.0	maxed that baby out.
0:40.0	Check.
0:41.0	For the last two years, my wife and I have both maxed out the contributions on our Roth IRAs.
0:46.8	Double check.
0:47.8	We're hopeful that this diligent tax-favored savings plan of ours will pay dividends,
0:53.1	literally and figuratively.
0:55.7	Our overall balances have been growing steadily and we're in it for the long run.
1:01.3	But now what?
1:03.2	We could always open a taxable brokerage account or look into real estate investing.
1:08.0	Those options are definitely on the table, but there has to be another tax advantage
1:12.6	lever that we haven't pulled yet.
1:15.2	In true, seek and ye shall find fashion, I stumbled upon another tax-favored option
1:20.5	that I hadn't been taking advantage of.
1:23.4	The Health Savings Account or HSA.
	...

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