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Speaker 1: Welcome to How the Money. I'm Joel and I'm Matt,

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Speaker 1: and today we're talking about h s A s. Are

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Speaker 1: they the best retirement account? All right, Joel, I am

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Speaker 1: pumped to talk about h s A S, which, by

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Speaker 1: the way, stands for health savings accounts. They are relatively

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Speaker 1: new on the financial scene. Yeah, I mean like it

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Speaker 1: depends on how you classify new, right, like yeah, early

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Speaker 1: two thousands, Yeah, that's when they came about. But we

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Speaker 1: are going to mostly talk about how they are a

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Speaker 1: fantastic retirement accounts. We're going to dive into why that

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Speaker 1: is in this episode. And a lot of people don't

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Speaker 1: even know what an h s A is or if

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Speaker 1: their h s A eligible, So we're gonna get into

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Speaker 1: all that. Matt. By the way, you were out of

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Speaker 1: town for a week recently and the girls and I

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Speaker 1: would come over and we would water your garden. It's

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Speaker 1: looking beautiful, dude, and I noticed that you're harvesting a

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Speaker 1: lot of stuff. Now, yeah, man, that's right. Well, you

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Speaker 1: know what, before you came over, Kate and I had

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Speaker 1: a fantastic meal and she made this triple mushroom pattee

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Speaker 1: and we ate some of our fresh tomatoes. By the way,

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Speaker 1: the kids aren't here with us this week because they're

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Speaker 1: at grandparents camp, and so we're enjoying that's married without

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Speaker 1: kid's life, where Kay can spend as much time as

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Speaker 1: she wants without kids pulling on her leg while she's

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Speaker 1: whipping up dishes. Grandparents camp equals adult freedom. It's pretty,

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Speaker 1: it's pretty glorious thing. It's amazing. But yeah, I'm glad

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Speaker 1: you mentioned the garden. That's something we talked about doing

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Speaker 1: just months ago. Even the garden, it's tons of fun,

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Speaker 1: it's super cool. The girls love it. Kate herself, she

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Speaker 1: actually gets a lot of joy and just kind of

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Speaker 1: cultivating the plants. But dude, let me tell you what,

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Speaker 1: it is a lot of work. Which is interesting because

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Speaker 1: when I first met you, you had a big garden

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Speaker 1: in your backyard at yeah, oh yeah, I didn't know

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Speaker 1: that you had this big guarden back in the day,

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Speaker 1: and it was probably, let me guess, it was probably

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Speaker 1: about twenty ft by ten ft. Honestly, it was more

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Speaker 1: like thirty by thirty. It was. It was a massive garden.

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Speaker 1: And so now you're rolling with a much smaller garden

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Speaker 1: in the front yard, which is probably what ten by ten.

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Speaker 1: I should know this. It's as square foot garden. Kate's

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Speaker 1: really gotten into it. Basically, it's all about gardening in

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Speaker 1: a small plot of lane and essentially what you do

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Speaker 1: is every square foot you plant something. And what you do, though,

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Speaker 1: is you go vertical instead of letting it spread out.

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Speaker 1: So if you're limited in space, that's what you do.

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Speaker 1: And we've certainly had a lot of veggies. It's been

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Speaker 1: fantastic eating fresh, real tasting tomatoes. We've joked before about

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Speaker 1: hipster tomatoes like the purple ones, but we got them

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Speaker 1: Manrowan and we had some of that before you came

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Speaker 1: over for lunch and it was fantastic. Not to mention

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Speaker 1: other other awesome stuff like okra. I know you like okra?

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Speaker 1: I do? I? Yeah? I made some fried okra at

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Speaker 1: home the other day. Was so good. Another favorite of

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Speaker 1: ours is shohido peppers. Have you ever had shohidos like

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Speaker 1: blistered shochidos? No, but it sounds good. Oh my gosh,

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Speaker 1: I think you would love them. I'll try it. It's

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Speaker 1: a it's a perfect mix between veggie, but on the

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Speaker 1: grill as well, because you get real hot and they

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Speaker 1: blister and amazing flavor. Well, I feel like we need

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Speaker 1: to do a whole episode on garden ng or like

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Speaker 1: kind of outside of the box ways to grow your

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Speaker 1: own food, to think about your own food. You actually

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Speaker 1: need to do an episode on specifically how to cook

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Speaker 1: inexpensively too, And I'm looking forward to taking those topics

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Speaker 1: in the future. That's Skates, jam Man. We should, yeah,

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Speaker 1: we should do that, but I mean, I wanted to

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Speaker 1: mention the garden too. It's very delicious, it's amazing, it's

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Speaker 1: a lot of fun. But because it does take a

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Speaker 1: lot of work, you need to make sure that you

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Speaker 1: enjoy the actual work of weeding and tending to the

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Speaker 1: garden if it's going to be worth it, because from

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Speaker 1: a dollar to dollar standpoint, I don't know if it

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Speaker 1: actually pans out, But if you can also enjoy the work,

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Speaker 1: enjoy being outside doing the whole the whole gig, then

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Speaker 1: and it could totally be worth it for you. Man,

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Speaker 1: There's something I would imagine because I haven't done it,

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Speaker 1: so I don't know, but I would imagine that there's

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Speaker 1: something really amazing about eating something that you've grown with

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Speaker 1: your own hands, that intangible. Like we talked about calculating

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Speaker 1: your hourly rate. But that's one of those intangibles. And

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Speaker 1: it doesn't even matter if it costs you more to

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Speaker 1: grow your own vegetables as long as it provides you

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Speaker 1: with kind of a connection to the earth and this

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Speaker 1: ability to grow your own food and then eat something delicious.

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Speaker 1: I mean, there are all these intangibles involved with how

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Speaker 1: in your own garden that you can't put on paper,

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Speaker 1: You can't put it in a spreadsheet. And man, I

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Speaker 1: love that you guys are enjoying the fruits of your labors,

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Speaker 1: or vegetables of your labors, as it might be. Yeah,

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Speaker 1: most definitely there's some awesome independence that comes from being

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Speaker 1: able to grow your own food versus being deepended on

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Speaker 1: a grocery store. But you wanna go ahead and introduce

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Speaker 1: our beer for this episode. Yeah, Today on the show,

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Speaker 1: we're drinking Mirror Universe. It's a Hazy i p a

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Speaker 1: by Fair State Brewing Cooperative. And this is another beer

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Speaker 1: given to Aspire listener Riley, who donated the beer from

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Speaker 1: Monday's episode. That's right, Thanks so much, Riley in Minnesota.

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Speaker 1: We're looking forward to discussing this one at the end

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Speaker 1: of the show. All right, Matt, So onto the topic

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Speaker 1: at hand. We're talking about h s as health savings accounts,

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Speaker 1: and it turns out there's a decent chance that hs

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Speaker 1: as are actually the best retirement savings account most people

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Speaker 1: have never heard of, and we think that most people

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Speaker 1: do need to know about health savings accounts. We have

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Speaker 1: a friend Brandon, who goes by the name of the

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Speaker 1: Mad Scientist, and he's called them the ultimate retirement account

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Speaker 1: and I don't think he's wrong. But we need to

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Speaker 1: talk about who has access and how to know if

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Speaker 1: you're eligible, and then also help people understand how to

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Speaker 1: get the most out of their HSA. So let's get

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Speaker 1: to it. Another reason too that we're talking about h

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Speaker 1: S a S is because if you are getting your

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Speaker 1: financial game together, you're looking for ways to to be

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Speaker 1: smart with your money. You're looking for the best ways

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Speaker 1: to optimize, You're looking for the best vehicles to invest through,

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Speaker 1: and not everybody has an employer with a four O

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Speaker 1: n K where they match right. And even with RATH

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Speaker 1: I R A S, which is one of our favorite

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Speaker 1: vehicles to invest within, they still have contribution limits. So

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Speaker 1: if you're wanting to save and invest your money for retirement,

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Speaker 1: you want to make sure that you're aware of the

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Speaker 1: additional vehicles that are also tax advantage and in this case, man,

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Speaker 1: this might be one of the most tax advantaged accounts,

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Speaker 1: even more than a rath I RA A yeah or

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Speaker 1: a four oh one K and h S A S

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Speaker 1: I think get overlooked for a couple of reasons. One

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Speaker 1: is that the term health is involved, so people automatically

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Speaker 1: associated with health insurances healthcare. It's yeah, they assume that

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Speaker 1: it's not some sort of retirement account investing vehicle, but

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Speaker 1: it is health insurances. Confusing and frustrating. But if you

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Speaker 1: have access to an h s A, you neglect it

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Speaker 1: at your own financial peril because they're awesome. That's ragual,

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Speaker 1: because h s A s are the best. One of

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Speaker 1: the reasons that they're the best is because they are

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Speaker 1: quite literally the most tax advantaged account out there. There

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Speaker 1: are three different ways that it can be a tax

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Speaker 1: advantaged account. That's a triple savings That means you pay

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Speaker 1: no tax on contributions that you make to an h

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Speaker 1: s A, you pay zero taxes on earnings as that

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Speaker 1: money grows, and then you also pay zero taxes when

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Speaker 1: you spend that money on qualified medical expenses. That's A

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Speaker 1: a triple threat. And the reason that we would consider

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Speaker 1: an hs A an investment account, even though you only

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Speaker 1: get the extra tax advantage if you spend it on

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Speaker 1: medical expenses, well, is that you can invest inside of

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Speaker 1: an h s A and your money can experience compounding

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Speaker 1: growth over the decades, just like you can in a

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Speaker 1: four oh one K or an I R A. And

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Speaker 1: we'll get into some of the nitty gritty on how

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Speaker 1: you spend your h s A in retirement later on,

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Speaker 1: but basically, it's important also to acknowledge that even if

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Speaker 1: your employer offers an h s A to you, well,

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Speaker 1: that h s A is yours and it's not taken

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Speaker 1: away from you when or if you leave your job.

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Speaker 1: So if your employer has mentioned that you have an

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Speaker 1: h s A available to you and you haven't taken

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Speaker 1: advantage of it because you one weren't familiar with what

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Speaker 1: it was, or two thought that maybe it didn't stick

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Speaker 1: with you when you left, well that's not true. And

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Speaker 1: so it's really important to know that when you open

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Speaker 1: up an h s A, it's with you for life,

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Speaker 1: That's right, Joel. And we've talked about f s A

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Speaker 1: s before, which are flexible spending accounts, and you know what,

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Speaker 1: they're pretty good. But h s A S they are

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Speaker 1: They are much much better. The biggest difference is that

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Speaker 1: your money rolls over with an h s A, so

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Speaker 1: you don't have to spend your contributions all in the

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Speaker 1: same year that you put the funds in. It allows

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Speaker 1: you to go into thinking about h s A S

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Speaker 1: with more of a long term mindset. Yeah, where I'm employed, Matt,

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Speaker 1: I only have access to an f s A. I

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Speaker 1: don't have an h s A at my disposal. Kind

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Speaker 1: of sounds like a humble brig about how great your

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Speaker 1: health insurance is. Yeah, so, which means I do have

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Speaker 1: access to really good health insurance, which is which is nice.

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Speaker 1: But in f s A, I use that to its

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Speaker 1: full potential. But if I had a high deductible plan,

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Speaker 1: and we're gonna get into that in a second, I

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Speaker 1: would most definitely be maxing out my h s A.

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Speaker 1: And that is because some of these perks that we've

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Speaker 1: talked about, and in particular that you can invest for

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Speaker 1: the long term inside of an h s A and

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Speaker 1: use it as an additional retirement savings account vehicle. So

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Speaker 1: we're gonna talk about eligibility. We're gonna answer a few

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Speaker 1: other questions regarding the h s A right after the

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Speaker 1: break All right, now, so a lot of people are

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Speaker 1: listening to this episode and they're wondering, Well, first I

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Speaker 1: didn't know what an h s A was. I didn't

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Speaker 1: know it existed. Now that I know, well, Joel just

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Speaker 1: mentioned he doesn't have access to one. How do I

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Speaker 1: find out if I am eligible for an h s A?

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Speaker 1: And I'm glad you asked, Well, the I r S

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Speaker 1: has set guidelines for who is eligible, but your healthcare

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Speaker 1: plan needs to qualify as a high deductible healthcare plan

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Speaker 1: in order for you to be able to contribute to

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Speaker 1: an h s A. Matt, do you want to go

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Speaker 1: over some of the numbers for us since your resident

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Speaker 1: math or the numbers kind of suck. So we will

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Speaker 1: put a link to that I r S page that

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Speaker 1: has the guidelines there. But for twenty nineteen, in order

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Speaker 1: to qualify for an hs A, the minimum annual deductible

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Speaker 1: for an individual's health coverage is one thousand, three fifty

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Speaker 1: and the number is twenty seven dollars for a family plan,

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Speaker 1: and there's also maximum deductibles as well. And so the

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Speaker 1: maximum deductible and out of pocket is sixty seven fifty

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Speaker 1: for an individual plan and thirteen thousand, five hundred for

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Speaker 1: full family healthcare. So basically, if you're deductibles fit within

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Speaker 1: that range, you most definitely want to look into this.

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Speaker 1: And there's a few other small requirements as well. We're

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Speaker 1: not going to bore you to death with with all

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Speaker 1: of those requirements, but check out the link will put

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Speaker 1: that on our website. What's great though, is that a

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Speaker 1: lot of the healthcare plans that are out there are

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Speaker 1: labeled as such. They're labeled hs A, and they'll have

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Speaker 1: that after the name, right, and so it'll might say

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Speaker 1: like Blue Cross, Blue Shield h s A. Yeah, And

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Speaker 1: as healthcare costs have ramped up, more and more plan

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Speaker 1: and have become hs A eligible because they are just

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Speaker 1: more high deductible plans on the market. And so if

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Speaker 1: you're in a situation like i am, and you've got

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Speaker 1: a day job in an HR department, it's best to

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Speaker 1: reach out and ask if your health insurance plan is

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Speaker 1: hs A eligible. Usually you can get a pretty quick

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Speaker 1: response as to whether it is or isn't, But if

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Speaker 1: it is, boom, it's time to start getting that ball

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Speaker 1: rolling on investing in your hs A. And on top

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Speaker 1: of that, some employers are actually contributing some money to

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Speaker 1: an h s A that you begin to fund, which

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Speaker 1: is a sweet perk. Yeah, that's that's a huge perk. Man.

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Speaker 1: It's basically like a match that you don't have to

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Speaker 1: put forth any effort and your employer does it for you. Right,

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Speaker 1: that's pretty sick. And so that's if you have that

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Speaker 1: steady nine to five like you do, Joel. But if

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Speaker 1: you're self employed like I am, you still have access

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Speaker 1: to high deductible health plans. Just double check to make

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Speaker 1: sure that it's labeled as such or if it's not,

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Speaker 1: that you're kind of digging into the details when you

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Speaker 1: are picking out your plan. But regardless, if you're geting

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Speaker 1: a high deductible plan, either through your employer or on

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Speaker 1: your own out in the marketplace, the contribution limits are

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Speaker 1: the same, which means that you and invest if you're single,

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Speaker 1: and that's seven thousand dollars if you're married filing jointly.

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Speaker 1: And so it's worth noting that those contribution limits they're

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Speaker 1: not quite as high as a standard traditional IRA or

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Speaker 1: a roth ira A. But you know what, if you

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Speaker 1: couple this additional amount that you can invest in an

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Speaker 1: h s A on top of what you can contribute

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Speaker 1: to an IRA A. Dude, that gets to be a

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Speaker 1: pretty healthy amount of money towards your retirement. That's like,

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Speaker 1: instead of facing just Batman, you're facing Batman and Robin,

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Speaker 1: right like this tag team Robins. Just like the little

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Speaker 1: half point h s A off to the side a

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Speaker 1: little bit, he both in tandem. Right, Well, maybe that

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Speaker 1: begs a bigger question. Maybe the h s A is

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Speaker 1: actually Batman. All right, Well, we'll tackle that. Might make

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Speaker 1: that argument here in a little bit. All right, So

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Speaker 1: another question that might come up for people who are

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Speaker 1: just now kind of familiarizing themselves with hs A S

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Speaker 1: is what if I no longer have a high deductible

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Speaker 1: health plan in the future. Let's see yourself employed now

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Speaker 1: with the high deductible health plan, and you start investing

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Speaker 1: in an hs A and then you go back and

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Speaker 1: get a traditional job with great health insurance, and this

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Speaker 1: new plan has a really low deductible which is great. Well,

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Speaker 1: the h s A that you invested in is still yours.

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Speaker 1: You can't contribute anymore, uh, during the years in which

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Speaker 1: you don't have high deductible health plans, but that money

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Speaker 1: is still growing for you, and you'll still have access

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Speaker 1: to that money tax free if you use it. Like

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Speaker 1: we mentioned earlier on qualified medical expenses later on in life, yea, Joel,

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Speaker 1: and you mentioned the year. It's it's even down to

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Speaker 1: the month you might switch healthcare plans. And as soon

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Speaker 1: as you start with a health care plan that does

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Speaker 1: not have that high deductible plan, that month you can

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Speaker 1: no longer make contributions to your hs A. So that's

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Speaker 1: another way that it differs a little bit from an

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Speaker 1: ira A where you kind of have an entire year

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Speaker 1: to to make contributions or to not. It comes down

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Speaker 1: to the month even that you have or don't have

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Speaker 1: a high deductible health plan. Alright, mat So here is

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Speaker 1: the question, is the h s A Batman or is

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Speaker 1: it robin? Is if someone has an HSA available to them,

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Speaker 1: should they invest in one and should they invest in

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Speaker 1: one before maxing out the other retirement accounts that they

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Speaker 1: have access to? Yeah, Juel, I mean that's the big question, right,

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Speaker 1: That's what we're talking about here. And I would argue

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Speaker 1: that an h s A should be fully funded before

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Speaker 1: your roth IRA, before traditional IRA, and before any contributions

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Speaker 1: beyond a match with your four O one K. I

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Speaker 1: think the four one K with a match that comes first,

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Speaker 1: because you can never beat that basically on your money,

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Speaker 1: right like you can never beat that one for one

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Speaker 1: dollar up to the percentage that they're willing to match.

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Speaker 1: But after that, after you've reached your four O one

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Speaker 1: k match, should you look at investing in a traditional IRA,

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Speaker 1: should you look at investing in a roth ira, or

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Speaker 1: should you look at an H S A? And I

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Speaker 1: think it should be an h S A first, the

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Speaker 1: reason being because it is triple tax advantage. That money

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Speaker 1: is contributed tax free, it grows tax free, and it

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Speaker 1: leaves that account without being taxed. It's spent on qualified

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Speaker 1: medical expensive exactly exactly, and so there's a chance that

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Speaker 1: that money never gets taxed or as with a roth

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Speaker 1: IRA or with the traditional IRA, you're guaranteed that money

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Speaker 1: is going to get taxed once at least once on

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Speaker 1: the front end or the back end in some way

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Speaker 1: for or fashion. Exactly. By the way, I realized that

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Speaker 1: qualified medical expenses sounds like a ridiculous, stupid term, and

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Speaker 1: it sounds like something the I R S would say

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Speaker 1: and it is actually the I R S terminology for this.

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Speaker 1: We will post a link in the show notes to

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Speaker 1: a great website that kind of details what qualified medical

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Speaker 1: expenses are, and we'll kind of also discuss in plain

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Speaker 1: English terms what that means towards the end of the

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Speaker 1: show too. But Matt, I completely understand where you're coming from.

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Speaker 1: I think whether or not the h s A is

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Speaker 1: Batman or Robin partially depends on people's goals. And we've

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Speaker 1: talked about the roth ira A in detail, and I

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Speaker 1: think the flexibility of having a roth ira A it

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Speaker 1: adds to its appeal and maybe and and the fact

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Speaker 1: that you can contribute a little bit more than to

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Speaker 1: a wrath than you can to an h s A

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Speaker 1: actually kind of, in my mind, tips the scales a

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Speaker 1: little bit in favor of contributing to a wrath before

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Speaker 1: you start fully funding that hs A. But the great

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Speaker 1: thing is, if you are truly a dedicated saver, and

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Speaker 1: you've placed a high priority on investing for your future,

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Speaker 1: taking that four oh one K match if you have

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Speaker 1: that available to you, and then focusing on maybe simultaneously

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Speaker 1: even but focusing on the rath and then the hs A.

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Speaker 1: I think is kind of a good way to think

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Speaker 1: about it, and part of where you come down is

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Speaker 1: going to depend on how you how much you value flexibility,

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Speaker 1: and what age you're planning on quitting work. Those are

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Speaker 1: some of the questions you're gonna want to ask yourself

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Speaker 1: to determine which one is more valuable for you as

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Speaker 1: an investment vehicle. But more than anything, what we want

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Speaker 1: to communicate in this episode is that an hs A

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Speaker 1: can and is truly an investment vehicle. Most of the

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Speaker 1: times when people talk about in hs A, it's talked

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Speaker 1: about as a current savings vehicle for medical expenses that

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Speaker 1: you incur year of and based on what you can

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Speaker 1: do inside of an h s A, that's the absolute

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Speaker 1: wrong way to be using it. Yeah, that takes a

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Speaker 1: very limited mindset and how you're approaching this amazing vehicle.

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Speaker 1: It's it's kind of like if you have that brand

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Speaker 1: new Tesla and you only take it to the al

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Speaker 1: Di down the street and then you come back home,

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Speaker 1: like that's it. There's so much more that that car

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Speaker 1: can do, but you're just taking it to the grocery

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Speaker 1: store and go zero to thirty and twenty seconds. You know,

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Speaker 1: like that's not what you want to hear about your tesla, man,

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Speaker 1: because they can go way faster, much quicker. Yeah, bottom line,

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Speaker 1: the h s A is a fantastic retirement vehicle. And

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Speaker 1: we're gonna talk more about how to get the most

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Speaker 1: out of your h s A. We'll get to that

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Speaker 1: right after the break, all right, Matt. So, we mentioned

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Speaker 1: just a second ago how most people the way they

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Speaker 1: talk about h s A s it's as a current

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Speaker 1: savings vehicle for this year's medical expenses. And that's not

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Speaker 1: the worst thing that could happen. You're still essentially using

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Speaker 1: tax free money to pay for current medical expenses. But

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Speaker 1: if you use an h s A in that manner,

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Speaker 1: you're not really taking advantage of what it's able to

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Speaker 1: do for you. All Right, So if you do want

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Speaker 1: to go ahead and open an h s A, which

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Speaker 1: we would recommend if you are eligible, you of course

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Speaker 1: want to make sure that you are putting it to work,

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Speaker 1: you're getting the most out of it. The first thing

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Speaker 1: to consider is to contribute as much as you can

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Speaker 1: every single year. We mentioned the annual limits, the annual

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Speaker 1: contribution limits, that's singles seven thousand dollars if you're married,

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Speaker 1: filing jointly try to hit those limits every single year,

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Speaker 1: because you can't go back in time and contribute for

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Speaker 1: prior years where you didn't aim. If you are contributing

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Speaker 1: through automated payroll deductions, you are saving on fight attacks,

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Speaker 1: so you're not having to pay additional payroll taxes on

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Speaker 1: the money that you're contributing to your h s A. Yes,

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Speaker 1: so that's an additional tax savings. Instead of just saving

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Speaker 1: on the income taxes that you would have paid on

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Speaker 1: that money, you're also in addition, saving extra tax that

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Speaker 1: you would have paid on that income Social Security Medicare. Yeah,

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Speaker 1: it's a sweet deal. Another way to get the most

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Speaker 1: out of your h s A is to begin investing

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Speaker 1: inside of your hs A. So treating it like a

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Speaker 1: retirement account is crucial in this whole process. If you

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Speaker 1: don't invest inside of your hs A, well it's really

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Speaker 1: just not nearly as good of a vehicle. Thinking of

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Speaker 1: your hs A like a rath IIRA or a four

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Speaker 1: O one K and choosing investments inside of your hs

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Speaker 1: A that will put your money in the market to

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Speaker 1: grow over the long term. That's where you're going to

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Speaker 1: see the biggest benefit, and that's where the h s

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Speaker 1: A really really shines, and most people in effectively use

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Speaker 1: their hs A by treating it like a savings account

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Speaker 1: for medical expenses as opposed to treating it like an

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Speaker 1: investment account to be used further on down the road.

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Speaker 1: And when you're investing within your h s A, just

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Speaker 1: like with regular retirement accounts, low fees are critical. They're crucial,

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Speaker 1: just like with any other investment accounts. You want to

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Speaker 1: make sure that you're minimizing the expenses that are going

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Speaker 1: towards that account management as well as costs and expenses

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Speaker 1: associated with those different fees. Yeah, we talked about this recently.

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Speaker 1: Lower fees equal better for you. So a couple of

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Speaker 1: places to consider lively infidelity, those are going to be

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Speaker 1: your best bets for where you should have your hs

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Speaker 1: A account. Yeah, those are the two leaders in low

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Speaker 1: cost h s A accounts, and so those are honestly

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Speaker 1: the only two places I would in all likelihood consider

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Speaker 1: having my h s A. Basically, if you have a

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Speaker 1: choice over the company you do business with when it

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Speaker 1: comes to your hs A, lively infidelity are going to

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Speaker 1: be your best bets because low fees rock and that's

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Speaker 1: what they priority us, all right, matt Onto. The major

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Speaker 1: sticking point of how to get the most out of

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Speaker 1: your h s A, well, that lies in not tapping

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Speaker 1: your hs A funds. That is how you maximize this account.

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Speaker 1: If you pay your healthcare bills out of pocket and

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Speaker 1: let your h s A continue to grow over the years,

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Speaker 1: that is how you're going to build wealth inside of

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Speaker 1: an h s A. Instead of taking the funds that

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Speaker 1: you contribute to an h s A and tapping them

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Speaker 1: for current medical expenses, you want to wait as long

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Speaker 1: as you can and access those hs A funds after

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Speaker 1: decades of growth. And that only makes sense with the

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Speaker 1: way that we're talking about investing within an h s A. Right.

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Speaker 1: If you are going to put your money in low

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Speaker 1: cost index funds within your h s A, well, that's

431
00:19:40,520 --> 00:19:42,359
Speaker 1: not money that you're gonna want to touch. Because the

432
00:19:42,359 --> 00:19:44,679
Speaker 1: market goes up, the market goes down. You don't want

433
00:19:44,680 --> 00:19:46,400
Speaker 1: to be in a position where you have to withdraw

434
00:19:46,440 --> 00:19:49,080
Speaker 1: some money for medical expenses because you don't know where

435
00:19:49,080 --> 00:19:50,680
Speaker 1: the market is going to be. And so it kind

436
00:19:50,680 --> 00:19:53,240
Speaker 1: of makes sense that someone who isn't using an h

437
00:19:53,320 --> 00:19:55,439
Speaker 1: s A to its full potential, right, they're using the

438
00:19:55,560 --> 00:19:58,359
Speaker 1: h s A to literally pay their medical bills like

439
00:19:58,520 --> 00:20:01,040
Speaker 1: they thought they were supposed to that it's sitting there

440
00:20:01,040 --> 00:20:03,560
Speaker 1: in cash because they want availability to it. They want

441
00:20:03,600 --> 00:20:06,240
Speaker 1: that access and it needs to be liquid. That makes sense,

442
00:20:06,280 --> 00:20:08,959
Speaker 1: It only makes sense if that's how you're using your HSA,

443
00:20:09,280 --> 00:20:11,359
Speaker 1: but we are recommending that you don't use your h

444
00:20:11,600 --> 00:20:14,000
Speaker 1: AY that way. Pay those medical bills out of pocket,

445
00:20:14,160 --> 00:20:16,280
Speaker 1: contribute funds to your h s A, put them in

446
00:20:16,320 --> 00:20:18,520
Speaker 1: low cost index funds, and allow them to grow for

447
00:20:18,600 --> 00:20:21,719
Speaker 1: decades to come. However, a key component to getting that

448
00:20:21,840 --> 00:20:24,120
Speaker 1: third tax advantage right, Like we know that you can

449
00:20:24,240 --> 00:20:27,080
Speaker 1: contribute tax free, we know that the earnings grow within

450
00:20:27,119 --> 00:20:29,400
Speaker 1: an h s A tax free. But the third way

451
00:20:29,440 --> 00:20:31,280
Speaker 1: to get that tax advantage is being able to take

452
00:20:31,280 --> 00:20:34,199
Speaker 1: those distributions. But you want them to be qualified. And

453
00:20:34,200 --> 00:20:36,840
Speaker 1: the way to make sure that your distributions are qualified

454
00:20:36,920 --> 00:20:38,440
Speaker 1: is that you want to make sure that you hold

455
00:20:38,480 --> 00:20:42,200
Speaker 1: on to your receipts. You want to keep those receipts forever.

456
00:20:42,480 --> 00:20:45,360
Speaker 1: It's probably a good idea to digitize those receipts. Make

457
00:20:45,359 --> 00:20:47,719
Speaker 1: sure that you have a digital record because there's no

458
00:20:47,840 --> 00:20:51,560
Speaker 1: time stipulation for when you can reimburse your health expenses.

459
00:20:51,600 --> 00:20:53,520
Speaker 1: I think that's the coolest thing in this whole thing.

460
00:20:53,520 --> 00:20:55,880
Speaker 1: It's nuts. It's it's like this crazy loophole right right,

461
00:20:55,960 --> 00:20:58,359
Speaker 1: It's like, you can incur a medical expense today in

462
00:20:58,359 --> 00:21:00,959
Speaker 1: two thousand nineteen, Matt. That is, let's say it's two

463
00:21:01,040 --> 00:21:04,400
Speaker 1: hundred dollars, and you can take a picture of that receipt,

464
00:21:04,680 --> 00:21:07,119
Speaker 1: you can keep a digital file of it. And in

465
00:21:07,320 --> 00:21:10,359
Speaker 1: two thousand and fifty nine, when you're forty years older

466
00:21:10,560 --> 00:21:12,000
Speaker 1: and your money has had time to grow in this

467
00:21:12,119 --> 00:21:14,960
Speaker 1: hs A, you're able to basically tap your hs A

468
00:21:15,080 --> 00:21:17,639
Speaker 1: for those funds and it doesn't matter that that expense

469
00:21:17,640 --> 00:21:20,320
Speaker 1: occurred forty years ago. You can withdraw the funds. Then.

470
00:21:20,640 --> 00:21:22,719
Speaker 1: That's the most interesting part of the h s A

471
00:21:22,720 --> 00:21:24,920
Speaker 1: as a vehicle is that you can wait a long

472
00:21:24,920 --> 00:21:28,560
Speaker 1: long time from your actual medical procedure or the medical

473
00:21:28,560 --> 00:21:30,840
Speaker 1: device that you purchased and tap the funds way down

474
00:21:30,880 --> 00:21:33,320
Speaker 1: the road. Yeah, man, just think about the potential expenses,

475
00:21:33,359 --> 00:21:36,800
Speaker 1: the potential medical expenses that you could have accrued over

476
00:21:36,840 --> 00:21:39,360
Speaker 1: a forty year period. I mean, who knows, Like we're

477
00:21:39,400 --> 00:21:42,720
Speaker 1: talking possibly even hundreds of thousands of dollars at least

478
00:21:42,720 --> 00:21:46,520
Speaker 1: maybe fifty two hundred, right, And that is how you

479
00:21:46,560 --> 00:21:49,199
Speaker 1: can reimburse yourself when you're forty years older and you

480
00:21:49,240 --> 00:21:51,560
Speaker 1: have proof, and so you're able to withdraw those funds

481
00:21:51,720 --> 00:21:54,520
Speaker 1: without being taxed. And what's incredible too, is that you

482
00:21:54,560 --> 00:21:57,640
Speaker 1: don't actually have to wait that forty years. Like Joel mentioned,

483
00:21:57,920 --> 00:22:00,680
Speaker 1: one of the benefits we've talked before about AIRA is

484
00:22:00,720 --> 00:22:03,399
Speaker 1: that you have flexibility to withdraw your contributions tax and

485
00:22:03,480 --> 00:22:06,840
Speaker 1: penalty free. Let's say it's only been ten years worth

486
00:22:06,880 --> 00:22:09,320
Speaker 1: of accruing your medical expenses. Well, as long as you

487
00:22:09,359 --> 00:22:11,960
Speaker 1: have those receipts, say you are in a bind and

488
00:22:12,000 --> 00:22:14,480
Speaker 1: you're in a position where you need access to that money, well,

489
00:22:14,520 --> 00:22:17,879
Speaker 1: you can reimburse yourself for ten years worth of medical expenses.

490
00:22:17,880 --> 00:22:20,200
Speaker 1: And maybe that's not a hundred thousand dollars, but gosh,

491
00:22:20,359 --> 00:22:22,960
Speaker 1: it might be ten or twenty maybe ten or twenty dollars,

492
00:22:22,960 --> 00:22:24,919
Speaker 1: And that's money that you can kind of tap just

493
00:22:25,000 --> 00:22:26,919
Speaker 1: like you would with a roth ira A. And so

494
00:22:26,920 --> 00:22:29,040
Speaker 1: what I'm saying though here is that the h S

495
00:22:29,080 --> 00:22:33,320
Speaker 1: A has almost the same flexibility that a roth ira has.

496
00:22:33,440 --> 00:22:35,800
Speaker 1: It just has the added step of a little bit

497
00:22:35,800 --> 00:22:38,440
Speaker 1: of paperwork making sure that you maintain those receipts. If

498
00:22:38,480 --> 00:22:40,080
Speaker 1: the I R S comes knocking and they want to

499
00:22:40,080 --> 00:22:41,840
Speaker 1: make you prove it. You have that. One thing that

500
00:22:41,880 --> 00:22:44,440
Speaker 1: people ask is, well, what if I have too much

501
00:22:44,480 --> 00:22:46,560
Speaker 1: money in my h s A. When I get to

502
00:22:46,600 --> 00:22:50,280
Speaker 1: retirement and I don't have that many qualified medical expenses

503
00:22:50,480 --> 00:22:53,199
Speaker 1: to have made investing in an hs A life, I've

504
00:22:53,200 --> 00:22:55,320
Speaker 1: got too much money s exside. I know that that

505
00:22:55,520 --> 00:22:57,600
Speaker 1: is like truly the best case scenario where you can

506
00:22:57,680 --> 00:23:00,080
Speaker 1: have too much money set aside in your HSA. But

507
00:23:00,160 --> 00:23:02,240
Speaker 1: what would you tell someone that asked that question, Well, Joel,

508
00:23:02,240 --> 00:23:03,840
Speaker 1: first of all, we are going to have a ton

509
00:23:03,920 --> 00:23:06,879
Speaker 1: of medical expenses by the time we're older. I can't

510
00:23:07,119 --> 00:23:09,360
Speaker 1: say exactly how much, but that's just that's just how

511
00:23:09,400 --> 00:23:11,680
Speaker 1: life goes. We spend money on healthcare. It costs a lot.

512
00:23:11,960 --> 00:23:13,600
Speaker 1: And the fact is, though there are a lot of

513
00:23:13,640 --> 00:23:17,000
Speaker 1: eligible expenses, the list of eligible items it runs the gamut.

514
00:23:17,000 --> 00:23:20,720
Speaker 1: It ranges from eyeglasses, two X rays, to prescriptions even

515
00:23:20,760 --> 00:23:22,960
Speaker 1: to long term care. And even if the sect to

516
00:23:23,000 --> 00:23:24,880
Speaker 1: me is I look that up, that's all. Well, that's

517
00:23:24,880 --> 00:23:27,600
Speaker 1: good to know. And make sure you're keeping your receipts

518
00:23:27,640 --> 00:23:30,280
Speaker 1: for those any optical glasses, buddy, Okay, that's twenty dollars

519
00:23:30,280 --> 00:23:33,040
Speaker 1: a pop, I want to get reimbursed for that junk. Well,

520
00:23:33,040 --> 00:23:35,639
Speaker 1: on not note, I'm actually not eligible myself for an

521
00:23:35,760 --> 00:23:37,560
Speaker 1: h s A because I am not on a high

522
00:23:37,600 --> 00:23:40,560
Speaker 1: deductible plan. Yeah, you're actually not on an actual health

523
00:23:40,600 --> 00:23:43,399
Speaker 1: insurance plan. You have health sharing coverage. Yeah, and that's

524
00:23:43,440 --> 00:23:45,280
Speaker 1: something we might talk about one of these days. Yeah,

525
00:23:45,320 --> 00:23:47,120
Speaker 1: you've written about it on the website too. If people

526
00:23:47,119 --> 00:23:48,840
Speaker 1: want to know more about that, you can check out

527
00:23:48,880 --> 00:23:51,320
Speaker 1: Matt's article on why he's a part of a health

528
00:23:51,359 --> 00:23:54,440
Speaker 1: sharing plan as opposed to something like a high deductible

529
00:23:54,480 --> 00:23:57,400
Speaker 1: health plan on our website how to money dot com

530
00:23:57,440 --> 00:23:59,520
Speaker 1: And Matt, I think another thing I would say, besides

531
00:23:59,760 --> 00:24:02,960
Speaker 1: it being a larger list of eligible expenses than most

532
00:24:02,960 --> 00:24:06,360
Speaker 1: people might think, there is well, in the worst case scenario,

533
00:24:06,400 --> 00:24:08,600
Speaker 1: which is still a good case scenario, in hs A

534
00:24:08,720 --> 00:24:12,760
Speaker 1: functions like a traditional IRA in many ways. So you'll

535
00:24:12,760 --> 00:24:15,400
Speaker 1: pay tax on the money that you withdraw that isn't

536
00:24:15,400 --> 00:24:19,520
Speaker 1: spent on qualified healthcare expenses. But that's exactly what you

537
00:24:19,560 --> 00:24:22,159
Speaker 1: do with a traditional IRA, exactly. But you hit a

538
00:24:22,200 --> 00:24:24,800
Speaker 1: certain age, and in this case, the age is a

539
00:24:24,840 --> 00:24:27,439
Speaker 1: little bit older. We're talking age sixty five that you

540
00:24:27,480 --> 00:24:29,959
Speaker 1: have to wait until versus fifty nine and a half,

541
00:24:30,040 --> 00:24:32,159
Speaker 1: which is what it is for a traditional IRA. But

542
00:24:32,359 --> 00:24:34,639
Speaker 1: what you're saying is the worst case scenario is that, oh,

543
00:24:34,680 --> 00:24:37,320
Speaker 1: by the way, you have an extra traditional IRA account,

544
00:24:37,520 --> 00:24:40,040
Speaker 1: right boo? Who I know. It's a beautiful thing. Yeah,

545
00:24:40,080 --> 00:24:42,760
Speaker 1: And that's why I think there aren't really many objections

546
00:24:42,760 --> 00:24:45,480
Speaker 1: that can be raised to investing in an h s A.

547
00:24:45,520 --> 00:24:47,000
Speaker 1: I think it act, it makes a lot of sense.

548
00:24:47,080 --> 00:24:50,560
Speaker 1: And if you have the desire and the ability to

549
00:24:50,800 --> 00:24:54,280
Speaker 1: contribute more money to retirement than just investing in a

550
00:24:54,320 --> 00:24:57,240
Speaker 1: regular four oh one k or IRA account, well I

551
00:24:57,320 --> 00:24:59,960
Speaker 1: think the h s A is at minimum the slay

552
00:25:00,040 --> 00:25:03,639
Speaker 1: him dunge next move and maybe makes sense, as you

553
00:25:03,680 --> 00:25:06,720
Speaker 1: mentioned earlier, to be the batman in the scenario and

554
00:25:06,720 --> 00:25:09,520
Speaker 1: potentially becoming like your go to retirement account at the

555
00:25:09,520 --> 00:25:11,640
Speaker 1: same time. Yeah, the h s A literally could take

556
00:25:11,680 --> 00:25:13,800
Speaker 1: that lead role when it comes to setting money aside

557
00:25:13,840 --> 00:25:16,320
Speaker 1: for retirements. I mean, the only downside that I see

558
00:25:16,320 --> 00:25:18,400
Speaker 1: with that is the fact that it requires a little

559
00:25:18,440 --> 00:25:21,320
Speaker 1: more bookkeeping, like you have to keep those receipts. But

560
00:25:21,400 --> 00:25:22,960
Speaker 1: that being said, if you're like me and you take

561
00:25:22,960 --> 00:25:24,920
Speaker 1: a picture of every single receipt with a little digital

562
00:25:24,960 --> 00:25:26,840
Speaker 1: point and shoot, of course you do, because that's how

563
00:25:26,840 --> 00:25:30,520
Speaker 1: I roll. Then you're already doing that and there's really

564
00:25:30,560 --> 00:25:32,640
Speaker 1: no additional work. The only additional work that I could

565
00:25:32,680 --> 00:25:34,920
Speaker 1: think of that might be handy is if you kept

566
00:25:34,920 --> 00:25:37,639
Speaker 1: maybe an Excel file, which I also do, and you

567
00:25:37,680 --> 00:25:39,520
Speaker 1: lift out all of your medical expenses. That way you

568
00:25:39,520 --> 00:25:40,960
Speaker 1: have a running total, and that way you know the

569
00:25:41,000 --> 00:25:44,080
Speaker 1: exact amounts of the medical expenses that you can be

570
00:25:44,160 --> 00:25:47,080
Speaker 1: reimbursed for down the road. Yeah, it is really nice

571
00:25:47,119 --> 00:25:49,119
Speaker 1: to have that running total for when you already to

572
00:25:49,400 --> 00:25:52,200
Speaker 1: actually access those funds. Right, Yeah, that's right. But yeah,

573
00:25:52,200 --> 00:25:54,280
Speaker 1: other than the bookkeeping, I really see no other reason

574
00:25:54,320 --> 00:25:57,800
Speaker 1: why someone shouldn't open and fund and hs A before

575
00:25:57,960 --> 00:26:02,000
Speaker 1: a rath or traditional ira A strong words, my friend words.

576
00:26:02,000 --> 00:26:04,520
Speaker 1: How I feel about it. I still really like the roth.

577
00:26:04,640 --> 00:26:06,560
Speaker 1: Like I mentioned earlier, I think there's a lot of

578
00:26:06,600 --> 00:26:09,080
Speaker 1: current flexibility. There's some beauty in a simplicity, I'll say that,

579
00:26:09,160 --> 00:26:11,680
Speaker 1: And there's also just the beauty that a lot more

580
00:26:11,720 --> 00:26:14,280
Speaker 1: people are eligible to contribute to a rath than are

581
00:26:14,320 --> 00:26:16,520
Speaker 1: eligible to contribute to an h s A exactly. And

582
00:26:16,520 --> 00:26:17,960
Speaker 1: so I think you know, that's a reason we're gonna

583
00:26:18,000 --> 00:26:20,080
Speaker 1: just mention the Rath more often on the show. But

584
00:26:20,240 --> 00:26:22,479
Speaker 1: if you have access to an hs A, don't let

585
00:26:22,480 --> 00:26:24,560
Speaker 1: it fall by the wayside, don't forget about it. And

586
00:26:24,600 --> 00:26:26,600
Speaker 1: now that you know what it is, you're gonna want

587
00:26:26,600 --> 00:26:29,760
Speaker 1: to strongly consider putting some money aside inside of that account.

588
00:26:29,920 --> 00:26:31,359
Speaker 1: All right, let's get it back to the beer we

589
00:26:31,480 --> 00:26:34,040
Speaker 1: had Mirror Universe. Uh, this is a hazy I p

590
00:26:34,200 --> 00:26:36,720
Speaker 1: a by Fair State Brewing co Op. Hey, so, are

591
00:26:36,720 --> 00:26:38,520
Speaker 1: you a true Southerner? Do you say a mirror or

592
00:26:38,560 --> 00:26:42,480
Speaker 1: do you see a mirror mirror? Do you say it properly? No,

593
00:26:42,520 --> 00:26:44,600
Speaker 1: I'm not a I'm kind of a Southerner, but I'm

594
00:26:44,720 --> 00:26:48,400
Speaker 1: mostly a transplant from the Northwest, so it doesn't really count. Yeah,

595
00:26:48,440 --> 00:26:50,640
Speaker 1: not really from the South either. I grew up here

596
00:26:50,640 --> 00:26:53,119
Speaker 1: in the South, but my dad's from the Midwest and

597
00:26:53,200 --> 00:26:56,960
Speaker 1: my mom's Korean. So there's very few sort of Southern

598
00:26:57,040 --> 00:26:59,960
Speaker 1: sayings that I've lashed onto. That being said about folks

599
00:27:00,080 --> 00:27:02,920
Speaker 1: listening are like, no, you guys are totally Southern. Well,

600
00:27:02,920 --> 00:27:06,240
Speaker 1: and honestly, people who live in Atlanta it's a completely

601
00:27:06,240 --> 00:27:08,880
Speaker 1: different world from the majority of the South because it's

602
00:27:08,880 --> 00:27:11,800
Speaker 1: this big metropolitan city, and so I think people think

603
00:27:11,840 --> 00:27:13,679
Speaker 1: of Atlanta as the South, and rightly so, there are

604
00:27:13,680 --> 00:27:15,840
Speaker 1: a lot of Southern sensibilities. There's a lot of Southern

605
00:27:15,960 --> 00:27:19,960
Speaker 1: nous to Atlanta. Southern a city, right, maybe that's probably

606
00:27:20,000 --> 00:27:22,240
Speaker 1: what I'll call it, but truly, Atlanta has a lot

607
00:27:22,280 --> 00:27:24,480
Speaker 1: of differences from a lot of the rest of the Southeast.

608
00:27:24,520 --> 00:27:26,159
Speaker 1: So yeah, that's why I love Atlanta. It's just kind

609
00:27:26,160 --> 00:27:28,080
Speaker 1: of this unique hybrid and I feel like I belong

610
00:27:28,160 --> 00:27:30,720
Speaker 1: here because I feel like I'm a unique hybrid myself,

611
00:27:31,040 --> 00:27:33,159
Speaker 1: and you are too, buddy. But enough about that. What

612
00:27:33,280 --> 00:27:35,360
Speaker 1: did you think of this beer? Well, first off, I'll

613
00:27:35,359 --> 00:27:37,720
Speaker 1: mention that the cane is really hard to read because

614
00:27:38,240 --> 00:27:40,480
Speaker 1: with it being Mirror Universe, everything is is kind of

615
00:27:40,480 --> 00:27:42,920
Speaker 1: written backwards or upside down. But I kind of dig

616
00:27:42,960 --> 00:27:45,679
Speaker 1: it because it makes me think of stranger things, and

617
00:27:46,200 --> 00:27:48,160
Speaker 1: I just got a niche in for some stranger things. Man.

618
00:27:48,400 --> 00:27:50,159
Speaker 1: Regardless of this beer, I really enjoyed a man, it's

619
00:27:50,200 --> 00:27:52,719
Speaker 1: really tasty, have that new classic i PA flavor, juicy,

620
00:27:53,080 --> 00:27:54,720
Speaker 1: kind of smooth drinking with a little bit of that

621
00:27:54,800 --> 00:27:57,480
Speaker 1: hot bite. I really enjoyed it. Yeah. On the label

622
00:27:57,600 --> 00:28:01,080
Speaker 1: it says that they used quote unquote too many hops,

623
00:28:01,160 --> 00:28:03,640
Speaker 1: and uh, yeah, I love that because honestly, in my opinion,

624
00:28:03,920 --> 00:28:06,439
Speaker 1: I'm kind of a hophead. You really can't put too

625
00:28:06,480 --> 00:28:08,240
Speaker 1: many hops in a beer for me. I thought they've

626
00:28:08,240 --> 00:28:11,159
Speaker 1: had an awesome hop a roma, nice hop notes in

627
00:28:11,200 --> 00:28:13,560
Speaker 1: the flavor profile, and so I hate to disagree with

628
00:28:13,600 --> 00:28:16,679
Speaker 1: you Fair State Brewing co Op. But but no, not

629
00:28:16,760 --> 00:28:18,520
Speaker 1: too many hops because I can take it. Yeah, this

630
00:28:18,600 --> 00:28:21,040
Speaker 1: was a really good beer, So give us more hops. Yeah,

631
00:28:21,040 --> 00:28:22,879
Speaker 1: major thanks to Riley for sending this one into us.

632
00:28:22,880 --> 00:28:25,119
Speaker 1: We appreciate it. Thank you Riley in Minnesota, and if

633
00:28:25,119 --> 00:28:27,840
Speaker 1: you're ever in Minneapolis, be sure to check out Fair

634
00:28:27,880 --> 00:28:31,440
Speaker 1: State Brewing Cooperative. Yeah, do it all right, Matt. So

635
00:28:31,480 --> 00:28:34,240
Speaker 1: let's give our final thoughts on the subject. R hs

636
00:28:34,320 --> 00:28:36,600
Speaker 1: A is actually the best retirement account out there. Well, Joel,

637
00:28:36,640 --> 00:28:39,640
Speaker 1: it's up to the individual, but if you qualify, I

638
00:28:39,680 --> 00:28:41,520
Speaker 1: think you seriously need to consider an h s A

639
00:28:41,600 --> 00:28:44,440
Speaker 1: for the reasons being it is triple tax advantage. It's

640
00:28:44,440 --> 00:28:46,360
Speaker 1: completely free money. You don't have to pay taxes on

641
00:28:46,400 --> 00:28:50,320
Speaker 1: your contributions on earnings and for qualified medical distributions. But

642
00:28:50,440 --> 00:28:53,200
Speaker 1: worst case scenario, if you no longer have any qualified

643
00:28:53,200 --> 00:28:56,920
Speaker 1: medical expenses, well, essentially it converts into a traditional IRA A.

644
00:28:57,160 --> 00:28:59,360
Speaker 1: The only difference is is that instead of being able

645
00:28:59,360 --> 00:29:02,280
Speaker 1: to make the withdrawals at age fifty nine and a half,

646
00:29:02,400 --> 00:29:03,800
Speaker 1: you have to wait five and a half more years

647
00:29:03,920 --> 00:29:06,480
Speaker 1: until you hit age sixty five. That is a great

648
00:29:06,520 --> 00:29:08,840
Speaker 1: worst case scenario to have. Yeah, no doubt, Yeah, I

649
00:29:08,880 --> 00:29:11,840
Speaker 1: think more than anything, this episode was a primer for

650
00:29:11,920 --> 00:29:14,400
Speaker 1: people who maybe don't know what they are. And maybe

651
00:29:14,400 --> 00:29:16,360
Speaker 1: you don't have access to an h s A where

652
00:29:16,360 --> 00:29:18,360
Speaker 1: you work right now, but you will in the future.

653
00:29:18,600 --> 00:29:20,560
Speaker 1: Or maybe you have access to an hs A currently

654
00:29:20,720 --> 00:29:22,120
Speaker 1: and you didn't really know what it was so you

655
00:29:22,160 --> 00:29:24,360
Speaker 1: just kind of bypassed it, And hopefully this episode made

656
00:29:24,400 --> 00:29:27,000
Speaker 1: you realize the amazing benefits that an hs A has

657
00:29:27,040 --> 00:29:29,480
Speaker 1: to offer if you use it properly. So if you

658
00:29:29,520 --> 00:29:31,640
Speaker 1: think of your h s A as an investment tool

659
00:29:32,000 --> 00:29:34,520
Speaker 1: for long term wealth building, then you're using it properly.

660
00:29:34,600 --> 00:29:36,600
Speaker 1: So my biggest takeaway is to let people know that

661
00:29:36,680 --> 00:29:39,280
Speaker 1: the h s A is one of the perfect investment

662
00:29:39,360 --> 00:29:42,160
Speaker 1: vehicles for long term wealth building, So don't forget about

663
00:29:42,200 --> 00:29:44,840
Speaker 1: the poor little hs A. It's basically Batman. Honestly, the

664
00:29:44,840 --> 00:29:47,120
Speaker 1: only superhero movies I've ever seen are Batman movies. So

665
00:29:47,440 --> 00:29:49,400
Speaker 1: leaving going back to like the classic, the old school

666
00:29:49,480 --> 00:29:51,720
Speaker 1: Batman and Robin. Yeah, that was good stuff. Or they're

667
00:29:51,800 --> 00:29:53,280
Speaker 1: climbing up the side of the building. Did they do

668
00:29:53,280 --> 00:29:55,440
Speaker 1: that every single episode, like climb up the building like

669
00:29:55,480 --> 00:29:57,640
Speaker 1: with a rope where they shot at sideways. I think

670
00:29:57,680 --> 00:30:00,120
Speaker 1: so that Adam West was Batman back then. They've a

671
00:30:00,120 --> 00:30:02,360
Speaker 1: lot of iteration since then. I think my favorite Batman,

672
00:30:02,400 --> 00:30:03,680
Speaker 1: if I had to pick one, would have been the

673
00:30:03,680 --> 00:30:05,880
Speaker 1: one where Jim Carrey was the joker. That was so good.

674
00:30:05,960 --> 00:30:08,240
Speaker 1: I think I was literally called Batman and Robin. Really,

675
00:30:08,240 --> 00:30:09,600
Speaker 1: which one was that? Is that in the nineties, ice

676
00:30:10,160 --> 00:30:12,000
Speaker 1: h Man, It was probably two thousand two something like that.

677
00:30:12,080 --> 00:30:13,480
Speaker 1: So I'm gonna have to disown you as a friend

678
00:30:13,480 --> 00:30:15,880
Speaker 1: because you can't beat Christian Bale and Heath Ledger. Dude,

679
00:30:15,920 --> 00:30:18,720
Speaker 1: come on, they were great. They were great, But nobody

680
00:30:18,760 --> 00:30:21,200
Speaker 1: beats Jim Carey in my opinion, he was He's amazing. Yeah,

681
00:30:21,200 --> 00:30:25,600
Speaker 1: you're wrong, Okay, Well that's the end of this podcast.

682
00:30:25,640 --> 00:30:28,240
Speaker 1: I think we're never gonna we can't come to agreement

683
00:30:28,280 --> 00:30:30,760
Speaker 1: on that, then the end. Yeah, you can find our

684
00:30:30,760 --> 00:30:32,760
Speaker 1: show notes up at how to Money dot com and

685
00:30:32,760 --> 00:30:35,200
Speaker 1: we'll link to that I r S post where they

686
00:30:35,200 --> 00:30:37,200
Speaker 1: have the guidelines as to who is eligible and will

687
00:30:37,200 --> 00:30:40,560
Speaker 1: also linked to our friend Brandon's long form article. You know,

688
00:30:40,640 --> 00:30:43,360
Speaker 1: Brandon's site is where I go to always figure out

689
00:30:43,360 --> 00:30:45,440
Speaker 1: where the best credit card sign up bonuses. By the way,

690
00:30:45,600 --> 00:30:48,320
Speaker 1: so while you're there, click on travel cards and even

691
00:30:48,360 --> 00:30:49,840
Speaker 1: if you don't want to travel card, you can click

692
00:30:49,880 --> 00:30:52,640
Speaker 1: the button that switches it from travel to money money

693
00:30:52,640 --> 00:30:54,400
Speaker 1: cash back. That's what I do. Yeah, he does a

694
00:30:54,440 --> 00:30:57,160
Speaker 1: great job on his website and on his podcast The

695
00:30:57,200 --> 00:31:00,680
Speaker 1: Mad Scientist. And if you've appreciated this podcast in this episode,

696
00:31:00,720 --> 00:31:02,920
Speaker 1: we would appreciate your feedback. The best way to leave

697
00:31:02,960 --> 00:31:05,440
Speaker 1: that feedback is to leave us a nice review on

698
00:31:05,640 --> 00:31:08,200
Speaker 1: Apple Podcast. We'd really appreciate it, and it helps get

699
00:31:08,240 --> 00:31:10,640
Speaker 1: the word out about our show to other people who

700
00:31:10,680 --> 00:31:12,720
Speaker 1: want to learn about money stuff. All right, Joel, until

701
00:31:12,800 --> 00:31:15,200
Speaker 1: next time, Man Best Friends Out, Friends Out