you're listening to ramsy everyday millionaires where we talk retirement building wealth and outrageous generosity

anders and rock hill south Carolina hey Andrew what's up hey Dave two calls from south Carolina back to back there we go

I've got a hsa account through my employer and every year they contribute three hundred dollars

sector week complete some steps for that as employees I'd like to take the money from my hsa though about forty five hundred

dollars and put it into a health savings brokerage account what is the best way to do that without triggering all kinds of

extra suspicion from the IRS we endorse a company and I use them personally called health equity that does just

quickly that and they they handle all of our hsa's here at ramsy I've got my personal hsa in there look those guys up

and um there's no triggering it's not a problem at all it's a very standard transaction it's not an audit flag

or anything like that and uh mine are invested in good mutual funds I started an hsa when George bush first put them

in place a thousand years ago and I've done them every single year and I've never taken a dime out and so it's in

a growing completely tax deferred tax-free and guess what uh it basically is an additional retirement account for me

because I don't use it so moving money from one because my employer only contributes to their preferred bank but moving money from that bank to

for example health equity solutions is not going to is not going to finish any issues there we've never seen it do that no I don't

reasonably would it would be like just rolling over an IRA or something that doesn't trigger an audit it doesn't it's not a it's not a

suspicious thing because it's just very often done where people have large amounts of money I mean my hsa's got several hundred

thousand dollars in and now and um you know because I've just put I fully funded every year to keep the government's hands off the taxes

and then I'd never use it I just whatever medical we've had out of pocket we just paid it and um I'd rather have that money

growing with no taxes or tax deferred on it and so that's again and I pick just good mutual funds in that just like I did in a 401k or a

Roth IRA are you using the hsa here and we do the same we did the same way we just pay medical out of pocket and just let it grow

yeah and you've got health equity of course as well so you can pick mutual funds with it same thing same exact thing very good yeah

so the hsa the savings portion of the health savings account is what we're discussing here the insurance portion is basically a

high deductible health insurance plan that gives you much cheaper premium and you cannot fund the savings account if you if you're not in a

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