Maximize Your Earnings

I literally wrote the book on this "maximize your earnings" strategy utilizing Health Savings Accounts back in 2013. So much has changed since then.

Health Savings Account and Healthcare Information for 2017

My maximize your earnings strategy has really caught on! More and more folks are realizing it's the smartest way to save for retirement.

The healthcare industry, with the continued implementation of the Affordable Care Act (Obamacare), has changed dramatically too. More and more plans are offering HSA-eligible high deductible health plans, and you'll notice the other lower deductible plans have morphed into something else as well.

Even if you decide a high deductible health plan and HSA isn't the right choice for you, buy my book to better understand "insurance speak." You'll be glad you did once open enrollment time rolls around again, and you're forced to choose which health insurance plan to go with for the next year.

I update all my business books at least once a year to reflect these myriad changes. That's my job: To educate and inform with the most up-to-date information available.

Building Your Wealth Over Your Working Years

Maximize Your Earnings With a Health Savings Account is about turning your Health Savings Account into a supercharged investment vehicle. With more advantages than a 401(k), traditional IRA, or Roth IRA, it’s where I put my first investment dollars for the year.

Unused amounts in your Health Savings Account roll forward to future years, and you can invest that money in stocks, bonds, mutual funds, and ETFs.

Pay your healthcare expenses for the year out-of-pocket and invest your yearly contributions to your Health Savings Account for retirement. You’ll get a tax deduction and totally tax free contribution, plus tax free earnings if withdrawals are qualified.

Is an HSA and HDHP Right for You?

This strategy isn’t for everyone. It requires choosing a high deductible health plan during open enrollment, which could cost you more in healthcare costs during the year.

However, if you’re relatively healthy, willing to take a more proactive role in your healthcare, and make enough to pay some or all of your expenses out-of-pocket, you just might get as excited about this strategy as I am.

Substitute for Long Term Care Insurance

Your Health Savings Account can also act as insurance against the need for long term care.

Long term care insurance policies have pricey premiums, and those premiums aren't refunded to you if you don't need long term care, which most of us won't.

Instead of paying those high price premiums that you may never see again, invest that money into your HSA. That way, if you don’t need long term care, you get to keep the money and spend it as you wish.

Remember, even if you decide on a long term care insurance policy, those premiums are an HSA-eligible expense. So are Medicare premiums (parts A, B, and D) and out-of pocket medical expenses for you, your spouse, and any dependents.

Picking the Right Health Savings Account

Let me help you find a Health Savings Account with low fees and robust investment options.

Not all HSAs offer investment options. Don't worry if your employer has chosen one of these as your default account. HSAs are individual accounts owned by you (not your employer), so you're free to transfer your funds tax and penalty free to an HSA that does.

Making Tax Free Withdrawals

Unreimbursed medical receipts act as tickets to tax free withdrawals from your HSA. That means you'll have a bunch of tax free cash available for withdrawal at any time for any reason, with absolutely no tax or penalty!

I'll explain everything your need to know about this strategy, from what forms you need to file to what information you need to save to keep Uncle Sam off your back.

Maximize Your Earnings

Invest a few dollars into your financial future right now and purchase Maximize Your Earning with a Health Savings Account at Amazon.