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The Once-in-a-Lifetime IRA Transfer to an HSA

The concept is rather simple. The benefits are fairly small, but worth it if your situation dictates. Those facing large RMDs and those seeking to turn a small portion of their tax-deferred tIRA into tax-free growth in an HSA will find the most value.

Now I need to make a confession. When I first saw the question in the private Facebook group I thought the person posting was smoking something. I never heard of such a tax strategy (or it went in this ear and out the other.) I had to look it up to believe.

If you plan on using this strategy don’t get mad at your tax professional if they never heard of this. Just tell them to go to their software’s Special Situations tab on the 1099-R screen. All they need to do is add one simple number (the amount transferred to the HSA up to the contribution limit).

High Interest Savings Account Few Use

Whenever I attend a conference I look for things the crowds miss. The mainstream information is still absorbed, but there always seems to be something most people pass that contains a lot of potential.

Last year at FinCon such an opportunity screamed to me. Several companies were offering 5% on savings with few strings attached. One was geared toward military people, but had some fees and restrictions I felt uncomfortable with.

Finding Under-Valued Stocks

Jack Bogle gave us the index fund. Warren Buffett has said most people should put their money into index funds.Personal finance bloggers—especially in the FIRE* community—spout “index fund” like it’s a nervous tick. And you might have noticed this blog has the same nervous tick.Some are worried about all this index fund investing. The concern is index funds will control so much of the market that it will lose its efficiency. I remember the same concerns in the 1990s when I was a stock broker about mutual funds in general, most of which were actively managed.Index funds will not break the market any more than actively managed mutual funds did. For one, there will still be plenty of people investing in individual stocks. And the hedge fund guys will do their share providing liquidity.

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