Smart Investor! Great Investment! Thanks for sharing this transaction so we can learn more about various ways of being successful in different types of self-directed accounts.
Hello, thank you for the question. I believe you are referring to an FSA (Flex Savings Account), an HSA works differently. An HSA you can transfer to another custodian and continue to maintain year over year, growing tax-free.
No, unused funds in a Coverdell Education Savings Account (CESA) cannot be converted directly to an IRA. However, the funds can be transferred to another family member's CESA without penalties, provided the beneficiary is under 30.
![[UA] Eternal Fire проти NAVI | EPL Season 20 Malta](http://i.ytimg.com/vi/chvlsDygrZM/mqdefault.jpg)
Smart Investor! Great Investment! Thanks for sharing this transaction so we can learn more about various ways of being successful in different types of self-directed accounts.
Thank you for the feedback! Check out our TikTok for more investment videos
➡www.tiktok.com/@equity_trust
Like. The. Opportunity
Get started here: eqtytrst.co/consultation or you can call 888-594-7844
My understanding of an employer sponsored HSA is that what you contribute each year is a use it or lose it proposition. When did that change?
Hello, thank you for the question. I believe you are referring to an FSA (Flex Savings Account), an HSA works differently. An HSA you can transfer to another custodian and continue to maintain year over year, growing tax-free.
That would be the FSA , dental, eye care etc.
what if our child does not use all their funds in the self direct cesa? can it be converted to a ira?
No, unused funds in a Coverdell Education Savings Account (CESA) cannot be converted directly to an IRA. However, the funds can be transferred to another family member's CESA without penalties, provided the beneficiary is under 30.