I am new to HSA BANK - go with Devenir or TD Ameritrade?

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

I did search this forum and saw some topics about this, but the dates were wide ranging and some say there were certain fees prior but no longer. I am confused. What's the latest on Devenir and TDA? Is there a preference as to what investment option I should go for?

Image
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
runninginvestor
Posts: 815
Joined: Tue Sep 08, 2020 8:00 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by runninginvestor »

Td Ameritrade seemed to be the far better option when we did this a few months ago for my spouse. There should be a few schedule for the HSA account and another for the TD self directed brokerage (sdba).

Our HSA program waives the monthly fee with $3k in the hsa cash account. You can move any amount over $1k to td Ameritrade. We set up the auto sweep from HSA side to sweep any amount over $3k to td. Then we can purchase ETFs/mutual funds/stocks.

Most people here will say transfer to lively/fidelity for the lowest fees. We have a good employer contribution to HSA bank ao we are fine with the td Ameritrade setup as there are practically no fees.

Devenir charges some additional asset based fees if I remember right.
wetgear
Posts: 468
Joined: Thu Apr 06, 2017 10:14 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by wetgear »

Fidelity is the best option as far as I can tell. I roll over from my employer HSA provider each year to my Fidelity HSA account.
chungus
Posts: 8
Joined: Thu Oct 15, 2020 9:08 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by chungus »

In a similar situation, we used TD Ameritrade. Then switched to Fidelity. Good experience with both. Annual rollover from HSA Bank to Fidelity is a cinch.

If you’re keeping things simple with a Bogleheads like approach…either custodian works out fine. Low cost, plenty of good options, reputable, etc.
StudentofFI
Posts: 12
Joined: Fri Apr 03, 2020 3:08 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by StudentofFI »

Currently using Devenir. I did this just to get started and build up some money, only 1.5 yrs since starting an HSA. Rolling it over annually to fidelity is part of the future plan. Seemed simpler to use devenir vs opening up a TD account at the time. I only use the vanguard sp500 fund in devenir, keeps it cheap.
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

StudentofFI wrote: Thu Sep 30, 2021 11:40 am Currently using Devenir. I did this just to get started and build up some money, only 1.5 yrs since starting an HSA. Rolling it over annually to fidelity is part of the future plan. Seemed simpler to use devenir vs opening up a TD account at the time. I only use the vanguard sp500 fund in devenir, keeps it cheap.
Thanks, everyone. I think I'll just keep it like so and then move to Fidelity at some point in the future.
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
User avatar
Cheez-It Guy
Posts: 2057
Joined: Sun Mar 03, 2019 4:20 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by Cheez-It Guy »

I went with TD Ameritrade because of this fine print when it came to Devenir:

https://www.hsabank.com/hsabank/members ... nt-account

"The Devenir Mutual Fund Investment Account may include a 0.30% annual fee which is charged quarterly. The fee is deducted pro rata from the mutual fund account on or about the 10th business day following the end of each quarter. The fee is assessed only on the first $50,000 of the Investment Account balance. There is a minimum fee of $1.50 per quarter. Accounts opened during the quarter are assessed the full 0.075% for that quarter. If the account balance is below $1.50 on the fee deduction date the full balance will be sold."

I guess "may" is a little ambiguous, but I didn't want to gamble. No fees with TD Ameritrade as far as I could / can tell. It became an even clearer decision after all of the major brokerages added free trading for all ETFs, so now I just put it in VTI (when I started, they had a limited list of commission-free ETFs which at the time did not include Vanguard. SPTM would have been the closest I could have selected to start. Will be interested to see how the integration with Schwab eventually proceeds. It's not practical for me to roll to Fidelity while actively employed, but that's something I'll likely do later due to change in fee structure (employer currently covers certain HSA Bank fees that would otherwise be assessed).
Stephen_Crane
Posts: 27
Joined: Sun Apr 05, 2020 4:10 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by Stephen_Crane »

I use TD Ameritrade with HSA Bank GEHA HDHP. All my contributions go into SPY. Recently HSA Bank removed requirement to maintain at least $1000 cash, which is great because that's more to put into investing.
sent from my user friendly home computer.
dcabler
Posts: 2026
Joined: Wed Feb 19, 2014 11:30 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by dcabler »

wetgear wrote: Thu Sep 30, 2021 8:53 am Fidelity is the best option as far as I can tell. I roll over from my employer HSA provider each year to my Fidelity HSA account.
+1 on Fidelity. I do a custodian to custodian transfer from HealthEquity to Fidelity every 6 weeks (every 3 paychecks)
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

Stephen_Crane wrote: Mon Oct 04, 2021 6:14 am I use TD Ameritrade with HSA Bank GEHA HDHP. All my contributions go into SPY. Recently HSA Bank removed requirement to maintain at least $1000 cash, which is great because that's more to put into investing.
That IS great. Maybe I'll just keep the funds there instead of Fidelity. But, I am going to confirm with HSA Bank first (it's possible some requirements are installed for some people and not all?)
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
SS Rambo
Posts: 214
Joined: Wed Jan 29, 2020 10:55 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by SS Rambo »

doss wrote: Mon Oct 04, 2021 6:26 am
Stephen_Crane wrote: Mon Oct 04, 2021 6:14 am I use TD Ameritrade with HSA Bank GEHA HDHP. All my contributions go into SPY. Recently HSA Bank removed requirement to maintain at least $1000 cash, which is great because that's more to put into investing.
That IS great. Maybe I'll just keep the funds there instead of Fidelity. But, I am going to confirm with HSA Bank first (it's possible some requirements are installed for some people and not all?)
That is nice, but I'm not sure if it applies across the board. I checked this morning and still hit this roadblock with HSA Bank:

"Note: Transfers are initiated on the business day prior to the transfer date. Transfers can be canceled before 2 p.m., CT, on the business day prior to the transfer date. If the HSA Bank cash account balance is below (or reduced below) the minimum balance of $1,000.00 at the time the transfer is initiated, the transaction will be cancelled."

I'd be surprised if any financial service provider removes a feature that could be deemed "consumer protection", considering all the headlines of the past year.
User avatar
grabiner
Advisory Board
Posts: 30601
Joined: Tue Feb 20, 2007 11:58 pm
Location: Columbia, MD

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by grabiner »

Stephen_Crane wrote: Mon Oct 04, 2021 6:14 am I use TD Ameritrade with HSA Bank GEHA HDHP. All my contributions go into SPY. Recently HSA Bank removed requirement to maintain at least $1000 cash, which is great because that's more to put into investing.
The other advantage of this setup is that the HSA Bank fees are waived as long as you remain with GEHA. Thus you get a fee-free brokerage account, and have no need to switch to a better provider.

When you leave the government, or decide to switch to a different government health plan, you can change HSA providers if you need to. (If you live in CA or NJ, changing providers might incur a tax cost because you would sell the stock for a capital gain.)
Wiki David Grabiner
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

I signed up for TD Ameritrade and trying to buy my first fund (VFIAX) . There is a $25 transaction fee for this. Is that normal?
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
User avatar
Cheez-It Guy
Posts: 2057
Joined: Sun Mar 03, 2019 4:20 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by Cheez-It Guy »

doss wrote: Thu Oct 07, 2021 4:41 am I signed up for TD Ameritrade and trying to buy my first fund (VFIAX) . There is a $25 transaction fee for this. Is that normal?
Unfortunately, yes, that is normal for Vanguard mutual funds. You need to purchase the ETF equivalent of VFIAX, which is ticker VOO. That will be free. Same underlying holdings, and same returns. Slightly lower expenses.
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

Cheez-It Guy wrote: Thu Oct 07, 2021 5:29 am
doss wrote: Thu Oct 07, 2021 4:41 am I signed up for TD Ameritrade and trying to buy my first fund (VFIAX) . There is a $25 transaction fee for this. Is that normal?
Unfortunately, yes, that is normal for Vanguard mutual funds. You need to purchase the ETF equivalent of VFIAX, which is ticker VOO. That will be free. Same underlying holdings, and same returns. Slightly lower expenses.
Thanks!
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
runninginvestor
Posts: 815
Joined: Tue Sep 08, 2020 8:00 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by runninginvestor »

doss wrote: Thu Oct 07, 2021 5:38 am
Cheez-It Guy wrote: Thu Oct 07, 2021 5:29 am
doss wrote: Thu Oct 07, 2021 4:41 am I signed up for TD Ameritrade and trying to buy my first fund (VFIAX) . There is a $25 transaction fee for this. Is that normal?
Unfortunately, yes, that is normal for Vanguard mutual funds. You need to purchase the ETF equivalent of VFIAX, which is ticker VOO. That will be free. Same underlying holdings, and same returns. Slightly lower expenses.
Thanks!
The Schwab funds are ntf. Fir instance, their vtsax equivalent is SWTSX.
ND Fan 1
Posts: 323
Joined: Fri Oct 30, 2015 12:29 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by ND Fan 1 »

grabiner wrote: Mon Oct 04, 2021 9:56 pm
Stephen_Crane wrote: Mon Oct 04, 2021 6:14 am I use TD Ameritrade with HSA Bank GEHA HDHP. All my contributions go into SPY. Recently HSA Bank removed requirement to maintain at least $1000 cash, which is great because that's more to put into investing.
The other advantage of this setup is that the HSA Bank fees are waived as long as you remain with GEHA. Thus you get a fee-free brokerage account, and have no need to switch to a better provider.

When you leave the government, or decide to switch to a different government health plan, you can change HSA providers if you need to. (If you live in CA or NJ, changing providers might incur a tax cost because you would sell the stock for a capital gain.)
Ok, so I just switched insurances and no longer with GEHA. So I'm pretty sure my fee is no longer waived. I don't want to keep a bunch of cash sitting in the account. I'm now on Tricare with no fees, so I don't plan on having any medical expenses for the next 10-15 years. So I either stick with HSA Bank and hold cash in the account or research a HSA provider and do a rollover? It seems Fidelity is a popular choice. Have about $50K invested.
Stephen_Crane
Posts: 27
Joined: Sun Apr 05, 2020 4:10 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by Stephen_Crane »

ND Fan 1 wrote: Thu Oct 07, 2021 1:55 pm
grabiner wrote: Mon Oct 04, 2021 9:56 pm
Stephen_Crane wrote: Mon Oct 04, 2021 6:14 am I use TD Ameritrade with HSA Bank GEHA HDHP. All my contributions go into SPY. Recently HSA Bank removed requirement to maintain at least $1000 cash, which is great because that's more to put into investing.
The other advantage of this setup is that the HSA Bank fees are waived as long as you remain with GEHA. Thus you get a fee-free brokerage account, and have no need to switch to a better provider.

When you leave the government, or decide to switch to a different government health plan, you can change HSA providers if you need to. (If you live in CA or NJ, changing providers might incur a tax cost because you would sell the stock for a capital gain.)
Ok, so I just switched insurances and no longer with GEHA. So I'm pretty sure my fee is no longer waived. I don't want to keep a bunch of cash sitting in the account. I'm now on Tricare with no fees, so I don't plan on having any medical expenses for the next 10-15 years. So I either stick with HSA Bank and hold cash in the account or research a HSA provider and do a rollover? It seems Fidelity is a popular choice. Have about $50K invested.
Yes Fidelity is what I would recommend. When I did my alternative analysis to leave government, I realized I would have to rollover my HSA Bank funds to Fidelity.
sent from my user friendly home computer.
illumination
Posts: 1743
Joined: Tue Apr 02, 2019 6:13 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by illumination »

Take it to Fidelity. I went through a number of HSA providers and they were mostly garbage. I also got the impression that many of these outfits weren't going to last.

I'm guessing Fidelity has just decided to make it a loss leader, the other major brokerages just don't want the business it seems. I essentially pay zero, easy to manage, I can invest in anything, and I know Fidelity is not going anywhere.

I don't use my HSA though for medical expenses at this point in my life, just as an investment vehicle. I plan to draw it down during my retirement years for health expenses.
GreendaleCC
Posts: 224
Joined: Sun Dec 22, 2019 3:24 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by GreendaleCC »

wetgear wrote: Thu Sep 30, 2021 8:53 am Fidelity is the best option as far as I can tell. I roll over from my employer HSA provider each year to my Fidelity HSA account.
+1. Very easy to do (HSA Bank -> Fidelity), and can be initiated online through fidelity.com.
tj
Posts: 5301
Joined: Thu Dec 24, 2009 12:10 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by tj »

grabiner wrote: Mon Oct 04, 2021 9:56 pm
Stephen_Crane wrote: Mon Oct 04, 2021 6:14 am I use TD Ameritrade with HSA Bank GEHA HDHP. All my contributions go into SPY. Recently HSA Bank removed requirement to maintain at least $1000 cash, which is great because that's more to put into investing.
The other advantage of this setup is that the HSA Bank fees are waived as long as you remain with GEHA. Thus you get a fee-free brokerage account, and have no need to switch to a better provider.

When you leave the government, or decide to switch to a different government health plan, you can change HSA providers if you need to. (If you live in CA or NJ, changing providers might incur a tax cost because you would sell the stock for a capital gain.)
To clarify, it's only free if you have the geha hdhp, regardless of if you are an employee or annuitant. If you switch to another geha plan, like once you are in Medicare, it's not going to continue to be free.
nix4me
Posts: 961
Joined: Sat Oct 13, 2018 9:32 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by nix4me »

I have HSA Bank and I use Td Ameritrade. I put 75% in SCHB (Schwab Total Stock Index) and 25% in SCHD (Schwab Dividend Index).
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

Alright, I think I made a mistake.

I have Payflex and about $30k there invested.

Since I am now with HSA BANK, I have 1k in cash there (required, I think?) and $957.00 sitting in TD Ameritrade for trade.

Things are already getting convoluted.

How can I simplify this? Move Payflex over to Fidelity and close Payflex to avoid maintenance fees? Then, move over the $957 from TD Ameritrade into Fidelity? Then, just keep the 1k minimum in HSA Bank to avoid fees?
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
tj
Posts: 5301
Joined: Thu Dec 24, 2009 12:10 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by tj »

doss wrote: Mon Oct 11, 2021 9:22 am Alright, I think I made a mistake.

I have Payflex and about $30k there invested.

Since I am now with HSA BANK, I have 1k in cash there (required, I think?) and $957.00 sitting in TD Ameritrade for trade.

Things are already getting convoluted.

How can I simplify this? Move Payflex over to Fidelity and close Payflex to avoid maintenance fees? Then, move over the $957 from TD Ameritrade into Fidelity? Then, just keep the 1k minimum in HSA Bank to avoid fees?
Why bother keeping 1k at hsa bank if you are moving everything else to Fidelity?
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

tj wrote: Mon Oct 11, 2021 9:24 am
doss wrote: Mon Oct 11, 2021 9:22 am Alright, I think I made a mistake.

I have Payflex and about $30k there invested.

Since I am now with HSA BANK, I have 1k in cash there (required, I think?) and $957.00 sitting in TD Ameritrade for trade.

Things are already getting convoluted.

How can I simplify this? Move Payflex over to Fidelity and close Payflex to avoid maintenance fees? Then, move over the $957 from TD Ameritrade into Fidelity? Then, just keep the 1k minimum in HSA Bank to avoid fees?
Why bother keeping 1k at hsa bank if you are moving everything else to Fidelity?
Because there may be account fees with HSA Bank if you keep cash less than 1k in the cash account. Though, I haven't verified this yet.
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
runninginvestor
Posts: 815
Joined: Tue Sep 08, 2020 8:00 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by runninginvestor »

doss wrote: Mon Oct 11, 2021 9:32 am
tj wrote: Mon Oct 11, 2021 9:24 am
doss wrote: Mon Oct 11, 2021 9:22 am Alright, I think I made a mistake.

I have Payflex and about $30k there invested.

Since I am now with HSA BANK, I have 1k in cash there (required, I think?) and $957.00 sitting in TD Ameritrade for trade.

Things are already getting convoluted.

How can I simplify this? Move Payflex over to Fidelity and close Payflex to avoid maintenance fees? Then, move over the $957 from TD Ameritrade into Fidelity? Then, just keep the 1k minimum in HSA Bank to avoid fees?
Why bother keeping 1k at hsa bank if you are moving everything else to Fidelity?
Because there may be account fees with HSA Bank if you keep cash less than 1k in the cash account. Though, I haven't verified this yet.
You should verify, as there are generally two sets of minimums:
1. Minimum amount in the HSA cash account: this is the amount you need in the cash account to be able to transfer and invest the rest. (My spouse's plan is $1k)

2. Minimum in the cash account to avoid monthly fees. (My spouse's plan is $3k)

These can vary by employer (employees with GEHA add to this confusion by stating lower or no minimums not realizing that's specific to their plan).

Now, if you can transfer your entire account elsewhere, to say fidelity, this may be worthwhile if you aren't able to contribute anymore or don't plan to ever contribute anymore. If you have $0 in your HSA account, they won't charge a monthly fee.

Edit; my spouse has HSA Bank and we keep the minimum in the cash account to avoid the fee and invest the rest in SWTSX (Schwab total stock market, no transaction fee) in td Ameritrade. She gets a decent contribution from her employer every year and since we have to use it for payroll deduction, we don't bother with lively/fidelity transfers.
Last edited by runninginvestor on Mon Oct 11, 2021 9:41 am, edited 1 time in total.
User avatar
wander
Posts: 3871
Joined: Sat Oct 04, 2008 9:10 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by wander »

We have HSA Bank with TD Ameritrade. Never have any issue, highly recommended.
Living Free
Posts: 670
Joined: Thu Jul 19, 2018 7:31 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by Living Free »

I had HSA Bank with the devenir vs TD ameritrade option previously through my employer. As noted above, there was an additional fee to use devenir so i used the TD ameritrade brokerage link and invested in ETFs there (VT (vanguard total world stock index fund) and BND (vanguard total US bond index fund), in case you're curious). Then my employer changed HSA custodian so I rolled that into a fidelity HSA at the time of changing. I think that it worked fine to use the HSA bank plus TD ameritrade - I'm not sure I'd do a rollover every year or whatever as the fees were low (I think no fees for the TD ameritrade brokerage link and minimal for HSA bank)
User avatar
TxFrog
Posts: 48
Joined: Mon Mar 01, 2021 8:45 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by TxFrog »

My recommendation is to use HSA Bank/TD Ameritrade.

Didn’t see it mentioned yet, but if you use payroll deductions, you avoid FICA taxes (7+%). With HSA Bank/TD Ameritrade you can setup automatic monthly transfers (e.g. $600/month) and setup automatic mutual fund investing. It can be as hands off as a 401k.

Also, Schwab mutual funds are NTF at TD Ameritrade. You can invest in SWTSX (total stock market fund with 0.03% ER).
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

TxFrog wrote: Mon Oct 11, 2021 11:29 am My recommendation is to use HSA Bank/TD Ameritrade.

Didn’t see it mentioned yet, but if you use payroll deductions, you avoid FICA taxes (7+%). With HSA Bank/TD Ameritrade you can setup automatic monthly transfers (e.g. $600/month) and setup automatic mutual fund investing. It can be as hands off as a 401k.

Also, Schwab mutual funds are NTF at TD Ameritrade. You can invest in SWTSX (total stock market fund with 0.03% ER).
I do use payroll deductions. So, OK, I'll just keep it with TD Ameritrade for now.

Now, question:

If I have $975.00 in my investment account ready for investing, how do I fill out this form? What do I put for "quantity" and what do I put for "price" ?

Image
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
runninginvestor
Posts: 815
Joined: Tue Sep 08, 2020 8:00 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by runninginvestor »

doss wrote: Tue Oct 12, 2021 8:21 am
TxFrog wrote: Mon Oct 11, 2021 11:29 am My recommendation is to use HSA Bank/TD Ameritrade.

Didn’t see it mentioned yet, but if you use payroll deductions, you avoid FICA taxes (7+%). With HSA Bank/TD Ameritrade you can setup automatic monthly transfers (e.g. $600/month) and setup automatic mutual fund investing. It can be as hands off as a 401k.

Also, Schwab mutual funds are NTF at TD Ameritrade. You can invest in SWTSX (total stock market fund with 0.03% ER).
I do use payroll deductions. So, OK, I'll just keep it with TD Ameritrade for now.

Now, question:

If I have $975.00 in my investment account ready for investing, how do I fill out this form? What do I put for "quantity" and what do I put for "price" ?

Image
If you are wanting to buy VOO, you set the limit price for what you want to pay (the ticker in your img shows the bid/ask spread.
The bid price refers to the highest price a buyer/market maker will pay for a security at this time.
The ask price refers to the lowest price a seller/market maker will accept for a security at this time.
The difference between these two prices is known as the spread. The smaller the spread, the greater the liquidity of the given security.

You could set youyr limit price at either and it'll probably be filled fairly quick as VOO is very liquid. Otherwise if you set the order type to "market" then you'll get the current price the market is offering.

Quantity: If you have $975 available to trade, since Td doesn't do fractional shares yet, you'll need to calculate how many whole shares you can afford. At $400/shae, you can get 2 shares but you'll be left with ~$175 in cash (2*400=$800 and $175 left).

If you buy SWTSX, since it's a mutual fund and there's no fee, you can use all of your available funds of $975.
User avatar
TxFrog
Posts: 48
Joined: Mon Mar 01, 2021 8:45 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by TxFrog »

doss wrote: Tue Oct 12, 2021 8:21 am
TxFrog wrote: Mon Oct 11, 2021 11:29 am My recommendation is to use HSA Bank/TD Ameritrade.

Didn’t see it mentioned yet, but if you use payroll deductions, you avoid FICA taxes (7+%). With HSA Bank/TD Ameritrade you can setup automatic monthly transfers (e.g. $600/month) and setup automatic mutual fund investing. It can be as hands off as a 401k.

Also, Schwab mutual funds are NTF at TD Ameritrade. You can invest in SWTSX (total stock market fund with 0.03% ER).
I do use payroll deductions. So, OK, I'll just keep it with TD Ameritrade for now.

Now, question:

If I have $975.00 in my investment account ready for investing, how do I fill out this form? What do I put for "quantity" and what do I put for "price" ?

Image
Not sure if TD Ameritrade allows fractional share purchases of ETFs (maybe other BHs that purchase ETFs on TD Ameritrade can chime in).

Assuming you have to purchase whole shares, you’ll want to enter a quantity of 2 and for the limit price enter the Ask price of $400.49. This will ensure your order is filled. Unfortunately, this will leave around $175 sitting in cash after the trade.

Also, if you want purchase an S&P 500 index fund, TD Ameritrade has the Schwab S&P 500 Index Fund (SWPPX) available for No Transaction Fee. This can allow the whole $975 to be invested.

EDIT: The advice from runninginvestor above is solid and does a better job than me in explaining buying ETFs at TDA. You can’t go wrong with either SWTSX (total stock market) or SWPPX (S&P500). You’ll get almost identical returns from each fund.
Topic Author
doss
Posts: 436
Joined: Tue Nov 01, 2011 9:52 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by doss »

Thank you @TxFrog and @runninginvestor ! Exactly what I was looking for. All good now.
“ The long-term 9%-10% nominal return of the stock market INCLUDES the crashes.” — calvin+hobbs
drk
Posts: 2526
Joined: Mon Jul 24, 2017 10:33 pm
Location: Overlooking Elliott Bay

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by drk »

doss wrote: Tue Oct 12, 2021 11:14 am Thank you @TxFrog and @runninginvestor ! Exactly what I was looking for. All good now.
To help out the next user looking for recent info, consider updating your OP with your conclusion and how it worked out. :beer
TXGator
Posts: 90
Joined: Mon Sep 26, 2016 1:38 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by TXGator »

I have the same HSA setup, I went with TD Ameritrade and using NTSX for my HSA
Radnog
Posts: 54
Joined: Fri Apr 15, 2011 9:32 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by Radnog »

I had the same options and went TD, all-in on VTI ETF.
BogleFed
Posts: 14
Joined: Sat Sep 05, 2020 9:34 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by BogleFed »

I was faced with the same decision a couple years ago and I also went with TD Ameritrade. I set up automatic transfers from HSA Bank > TD Ameritrade and then set up bi-weekly automatic mutual fund purchase (TD Ameritrade calls this "systematic investment") at TD Ameritrade to purchase FXAIX. FXAIX is Fidelity's S&P 500 fund and I believe I chose this because it had no fees to purchase. I have not touched this process in two years and I have been very pleased with it.
tj
Posts: 5301
Joined: Thu Dec 24, 2009 12:10 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by tj »

BogleFed wrote: Wed Oct 13, 2021 10:40 am I was faced with the same decision a couple years ago and I also went with TD Ameritrade. I set up automatic transfers from HSA Bank > TD Ameritrade and then set up bi-weekly automatic mutual fund purchase (TD Ameritrade calls this "systematic investment") at TD Ameritrade to purchase FXAIX. FXAIX is Fidelity's S&P 500 fund and I believe I chose this because it had no fees to purchase. I have not touched this process in two years and I have been very pleased with it.
How did you set up systematic investment at TDA?
saintsfan342000
Posts: 194
Joined: Wed Apr 04, 2018 9:46 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by saintsfan342000 »

chungus wrote: Thu Sep 30, 2021 9:12 am In a similar situation, we used TD Ameritrade. Then switched to Fidelity. Good experience with both. Annual rollover from HSA Bank to Fidelity is a cinch.
May I ask about how long it normally takes to process the transfer? I imitated an HSA transfer to Fidelity from HSA Bank; I did so using Fidelity's "transfer assets" tool. It's now 7 days past Fidelity's estimated completion date, and the funds still haven't left HSA Bank.
Already impartial now
Fortune
Posts: 155
Joined: Sun Dec 07, 2014 2:36 pm

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by Fortune »

chungus wrote: Thu Sep 30, 2021 9:12 am In a similar situation, we used TD Ameritrade. Then switched to Fidelity. Good experience with both. Annual rollover from HSA Bank to Fidelity is a cinch.

If you’re keeping things simple with a Bogleheads like approach…either custodian works out fine. Low cost, plenty of good options, reputable, etc.
We are currently with BoA HSA. Can I do an annual rollover to Fidelity without charges.
Will I pay any monthly/annual charges @ Fidelity. Thanks
BogleFed
Posts: 14
Joined: Sat Sep 05, 2020 9:34 am

Re: I am new to HSA BANK - go with Devenir or TD Ameritrade?

Post by BogleFed »

tj wrote: Wed Oct 13, 2021 12:47 pm
BogleFed wrote: Wed Oct 13, 2021 10:40 am I was faced with the same decision a couple years ago and I also went with TD Ameritrade. I set up automatic transfers from HSA Bank > TD Ameritrade and then set up bi-weekly automatic mutual fund purchase (TD Ameritrade calls this "systematic investment") at TD Ameritrade to purchase FXAIX. FXAIX is Fidelity's S&P 500 fund and I believe I chose this because it had no fees to purchase. I have not touched this process in two years and I have been very pleased with it.
How did you set up systematic investment at TDA?
I had to go back and double check this because I remember it was not as simple as I hoped. You have two options: 1) call their customer service to initiate the systematic investment; 2) fill out their systematic investment form (https://www.tdameritrade.com/retail-en_ ... DPS100.pdf) and fax it or send it back through their internal messaging system in your TDA account. I chose option 2 and sent the completed form through the messaging system. This process seems outdated in 2021, but I have not touched the process since I set it up so it was a one-time inconvenience.
Post Reply