Welcome to another exciting episode of Keep What You Earn! Today, I am bringing you all the insider insights into Health Savings Accounts (HSAs) and how they can be a game-changer for saving on taxes. Joining me is none other than Austin Preece, a certified financial planner and enrolled agent, who's here to share his wealth of knowledge on all things HSAs.

 

In this episode, Austin and I get down to the brass tacks of HSAs, including their benefits, who qualifies for them, the opportunities for investment, and some key pointers for both entrepreneurs and employees looking to get the most out of these nifty tax-saving tools.

 

So, if you've ever wondered about the potential of HSAs and how they can help you keep more of what you earn, this podcast episode is a must-listen. Get ready to level up your financial game and make informed decisions about your money.

 

Austin Preece is a dedicated financial advisor who has carved out a niche by focusing on a segment of the population that often goes underserved in the finance industry. While many of his peers concentrate on retirees, Austin finds fulfillment in addressing the unique financial challenges faced by those who are still years away from retirement. He takes a keen interest in the complex questions and issues that arise for this demographic, providing tailored financial planning and proactive management of their assets. His enthusiasm for guiding individuals through the earlier stages of their financial journeys illuminates his practice and fills a crucial gap in the advisory landscape. Austin's approach not only showcases his expertise but also his desire to make a meaningful difference in the lives of his clients during their peak earning years.

What you'll hear in this episode:

04:56 HDHP requires specific deductible and out-of-pocket limits.

 

07:42 HSA options for self-employed individuals explained.

 

11:20 Can we withdraw money from retirement accounts?

 

15:46 Expensive health insurance, prefer high deductible plan.

 

16:49 Health insurance choices: benefits vs. costs explained.

 

19:40 HSA contributions through payroll and alternative options.

If you like this episode, check out:

How to Introduce Your Kids to Money

How to Pour Money Into Your Business

4 Steps to Start Your Investing Journey with Tess Waresmith

 

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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.