this post was submitted on 30 Nov 2023
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DRS Your GME

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HSA and stocks? Need wrinkles (lemmy.whynotdrs.org)
submitted 9 months ago by PurpleSheep@lemmy.whynotdrs.org to c/drs_your_gme@lemmy.whynotdrs.org
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I hope someone who is smarter then me will be able to chime in. Can an HSA account be used to purchase stock to DRS? I see conflicting information about it online and am at work so really can't delve deeper rn.

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[–] Chives@lemmy.whynotdrs.org 8 points 9 months ago (1 children)

I believe you would need to transfer the HSA (or whatever funds from it you want to use for this) into a self directed IRA, and then make purchases from there. After that you could decide to try and go the self directed LLC route to DRS, or find another custodian (risky after Ally and Mainstar). Disbursing funds to purchase shares with Cash is also an option although rarely appealing.

[–] Zuberi@lemmy.dbzer0.com 6 points 9 months ago

These options are typically limited and depend on the offerings of your HSA provider specifically. Best to call them up and see if they offer anything of the sort @PurpleSheep@lemmy.whynotdrs.org!