In this episode of Beer and Money, Ryan Burklo discusses the importance and benefits of Health Savings Accounts (HSAs). He explains the qualifications for opening an HSA, the contribution limits, and the unique triple tax advantage that HSAs offer. Ryan emphasizes the potential for long-term growth and the importance of investing the funds within an HSA for future medical expenses, especially in retirement. He also highlights common misconceptions about HSAs and encourages listeners to take advantage of this financial tool for better health expense management.

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Takeaways

Health Savings Accounts (HSAs) offer a triple tax advantage.
To qualify for an HSA, you must have a high deductible health plan.
You can contribute up to $4,300 annually as an individual.
HSAs allow for tax-free withdrawals for qualified medical expenses.
90% of Americans do not invest their HSA funds.
HSAs can be used for medical expenses in retirement.
Investing in an HSA can lead to significant long-term growth.
Medical expenses are a constant concern in retirement planning.
It's important to understand the difference between HSAs and FSAs.
Utilizing HSAs effectively can lead to better financial health.

Chapters

00:00 Introduction to Health Savings Accounts
03:14 Understanding the Triple Tax Advantage
06:03 Long-Term Benefits of HSAs

In this episode of Beer and Money, Ryan Burklo and Alex Collins delve into the complex topic of tariffs, exploring their definition, implications, and effects on businesses and the economy. They discuss the potential benefits and drawbacks of tariffs, including their impact on consumer prices and the risk of trade wars. The conversation emphasizes the importance of understanding market dynamics and preparing for economic volatility, particularly for small businesses and investors.

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For a quick assessment of your current financial life go to: https://www.livingbalancesheet.com/lbsVision/lite/RyanBurklo

Takeaways

A tariff is a tax on imported goods.
Tariffs can generate revenue and potentially boost U.S. employment.
Increased tariffs may lead to higher consumer prices.
Trade wars can arise from tariff implementations.
Smaller businesses are likely to be hit harder by tariffs.
Economic models are complicated due to numerous variables.
Investors should focus on long-term strategies.
Maintaining liquidity is essential during volatile times.
Market reactions to tariff announcements are immediate.
Understanding your balance sheet is crucial for financial planning.

Chapters

00:00 Understanding Tariffs: An Introduction
02:00 The Good and Bad of Tariffs
04:50 Impact on Businesses and Trade Wars
09:05 Navigating Economic Volatility and Investment Strategies

In this episode, Ryan Burklo discusses the five essential principles of investing, emphasizing the importance of having a well-structured balance sheet, understanding risk, diversifying investments, rebalancing portfolios, and maintaining good behavioral finance practices. He highlights how these principles can help investors navigate market fluctuations and achieve long-term financial success.

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For a quick assessment of your current financial life go to: https://www.livingbalancesheet.com/lbsVision/lite/RyanBurklo

Takeaways

Your balance sheet should be set up appropriately before investing.
Having an emergency fund is crucial before investing in stocks or bonds.
Understanding your overall risk tolerance is essential for investment success.
Diversification is necessary to mitigate risks associated with market volatility.
Rebalancing your portfolio helps maintain your desired risk level over time.
Behavioral finance plays a significant role in investment decisions.
Investing is a long-term commitment, not just a short-term strategy.
Don't put all your money in the S&P 500; consider other asset classes.
Market timing is risky and often leads to poor investment decisions.
Consulting with a financial advisor can help you navigate complex investment strategies.

Chapters

00:00 Introduction to the Five Principles of Investing
01:26 Setting Up Your Balance Sheet
03:50 Understanding Risk: Stocks vs. Bonds
06:09 The Importance of Diversification
11:41 Rebalancing Your Portfolio
14:58 Behavioral Finance: Staying the Course