Your questions get answered! Listen as Chris provides direction to Alan seeking advice on his HSA account for medical expenses.
We love to answer questions from texts, emails, and meetings with people wanting to reach their retirement dreams.
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How should you invest in an HSA account for medical expenses?
First let's start with the very basics. HSA is a health savings account. (It can also come up when we talk about college savings plans, but not for your circumstance Alan.)
Here's where it gets more involved: A lot of HSA plans give you investment options.
I would give similar advice to your HSA account strategy as I would your final stages of your retirement strategy. Treat your investments like those closing years nearing retirement. You don't want to be too aggressive. You are counting on that money in the near immediate future.
It's wise to tamper back your aggression when you are near three years away from planning to withdrawal funds.
If you don't know how to do this I can walk you through the process. No problem. You'll just enjoy a nice lunch while I explain the process.
Thanks for the question. I hope this overview helped some and my email back to you provided additional clarity to your situation.