This video is part of our 2015 #MoneyMinute contest. Click the “thumbs up” below to vote for this video as one of your favorites and check out all the video entries here. Remember, voting occurs daily!
Name: Ted Jenkin
Website: oXYgen Financial
Entry Category: Retirement and Investing
#MoneyMinute Voting is closed
Hey, this is Ted Jenkin. I’m giving you your Money Minute tip here, which is what to do with your HSA– and the answer is: invest it. Boy, I might as well put down cutting credit cards and show you how to make some money.
A lot of people in this country save money in a health savings account. This is not a flexible spending account. It’s a health savings account that’s tied to your high-deductible health insurance plan. What most people don’t do is once you get above $2,000, you may know it or you may not, but you can actually invest your money in the stock market, the bond market, international funds and get your health insurance money to grow for you.
So, if you don’t need it for a handful of years and you’re funding your account, this is a great way. It’s a snackable moment to get more money in your pocket and a way that you can have more dollars when you ultimately need it for your health insurance.
And that’s your Money Minute.