Is It Wise To Move My Investments Into an HSA?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 23 October 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. We're going to go to Mark in Chicago.
0:25.0	Hey Mark, welcome to the show.
0:27.0	Hey, thanks for taking my call.
0:29.0	Absolutely, how can we help?
0:30.0	Well, I've been doing a bunch of research on investment accounts and what I have available.
0:36.6	And I made a change in my investment strategy that feels very unorthodox, and I was looking
0:42.2	to get your guys opinion on it. My employer
0:46.1	offers profit sharing so typically the order of operation would be to
0:51.8	invest in the 401k up until the employer match, but they do profit sharing and it's not
0:56.7	dependent on my contribution.
0:59.3	So I recently just pulled back almost all of my 401k contributions and we also have an
1:05.3	HSA and I've been putting the contributions into that. So looking into it the
1:10.3	HSA seems to be a what they call triple tax advantage account.
1:14.4	Yeah. So the math shows that this would be the correct route, but it seems like such a big shift and over the span of 20 to 30 years it seems like it
1:24.8	could have huge impacts out there for good or bad so I just want to get you guys
1:29.0	opinion on that.
1:30.0	Yeah what's the what's the current match that your employer has or the contribution that you don't you don't how much is it?
1:36.8	15%? Nice. Wow, so they're giving you 15% without a match. Is that what you're saying?
1:41.6	Correct, yeah. No Now it's not guaranteed every
1:43.8	year but I've been with the company for about three years and I've talked to people who have
	...

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