"I'm 28 with $120K - Can I Slow Down on Investing?"
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 5 February 2024
⏱️ 27 minutes
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| 0:00.0 | Are you ready for another question? |
| 0:07.0 | Are you ready for another question? |
| 0:08.0 | Yes, ma'am. |
| 0:09.0 | We've got a question from Jason. |
| 0:11.0 | He says, I just started to invest the funds in my HSA account. |
| 0:15.0 | He's no longer than 96% of people using it as a clearing account. |
| 0:20.0 | So, congratulations to you. That's great. |
| 0:23.0 | How do you recommend setting up allocations? |
| 0:26.0 | Do you recommend similar target funds or what should, how should he think about investing in the |
| 0:30.1 | HSA since this is a new thing for him? |
| 0:32.1 | Yeah, HSA's are of unique and I would argue it depends a little bit on where you are in your |
| 0:39.4 | financial journey and this is what I mean by that. |
| 0:41.8 | For those of you that don't know we love |
| 0:43.0 | health savings accounts because they're triple tax advantage you get a |
| 0:46.9 | deduction on the front end the money grows tax deferred if you then invest it and |
| 0:51.5 | then if you pull it out for qualified medical expenses or |
| 0:54.0 | to reimburse yourself for past qualified medical expenses then it's completely |
| 0:57.9 | tax-free so they are like super super exciting. |
| 1:00.3 | Well Brian I count a lot of young folks who say, hey, I just, I open enrollment, |
| 1:04.8 | it just hit, and I did the high deductible plan, I can do my HSA, I'm going to put money in there, |
| 1:08.9 | and I'm going to, I'm going to go invest. |
| 1:10.7 | I'm like, hey, that's a great idea. |
... |
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