New HSA provider Lively offers investments for $30/yr fee

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KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Sun Jan 14, 2018 9:37 pm

jhfenton wrote:
Fri Nov 10, 2017 1:45 pm

Also, if you are determined to use Vanguard mutual funds, you can make one initial purchase, and then set up free periodic investments on whatever schedule you want. So the mutual fund commission is only on the original purchase (and probably the eventual sale), not every year. (But I wouldn't use Vanguard mutual funds, or any mutual funds, at TD Ameritrade at this point.)
Can you expound on this free periodic investment?
We are more interested in Lively after dismissing them initially as a startup.

If we go with Lively, we will open 2017 accounts with $6,750 & invest in Vanguard ETF's - leaning toward VTI.
For 2018 contributions, presuming the payroll deduction is processed quickly with my megacorp, it will be a periodic investment with $300 deducted per pay period to hit $6,900 by December. Is there an option to do this for free with Lively rather than pay $6.95 commissions?

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jhfenton
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Sun Jan 14, 2018 9:53 pm

KATNYC wrote:
Sun Jan 14, 2018 9:37 pm
jhfenton wrote:
Fri Nov 10, 2017 1:45 pm

Also, if you are determined to use Vanguard mutual funds, you can make one initial purchase, and then set up free periodic investments on whatever schedule you want. So the mutual fund commission is only on the original purchase (and probably the eventual sale), not every year. (But I wouldn't use Vanguard mutual funds, or any mutual funds, at TD Ameritrade at this point.)
Can you expound on this free periodic investment?
We are more interested in Lively after dismissing them initially as a startup.

If we go with Lively, we will open 2017 accounts with $6,750 & invest in Vanguard ETF's - leaning toward VTI.
For 2018 contributions, presuming the payroll deduction is processed quickly with my megacorp, it will be a periodic investment with $300 deducted per pay period to hit $6,900 by December. Is there an option to do this for free with Lively rather than pay $6.95 commissions?
It's possible with TD Ameritrade to set up mutual fund periodic investments. For years, I had it set up for three mutual funds on a quarterly rotation in my Roth IRA at TDA. Every month, I'd put in the $416.66 ($5000 / 12) the day before the scheduled automatic investment, and it would be invested the next day. Two of the three funds had transaction fees, but I only had to pay the transaction fee the first time I bought the funds. The periodic investments and dividend reinvestments were free.

There's no reason you couldn't do the same thing with a mutual fund inside a TDA HSA brokerage account if you have money coming in on a regular basis.

But there's no way to auto-invest in an ETF.

The other option is calling up and requesting a free trade or three. I convinced TDA to give me three free trades, and I used one to invest most of my lump sum transfer into EMGF (iShares EDGE MSCI Multifactor Emerging Markets ETF). Going forward, I'm investing my quarterly transfers in commission-free SPEM. Then once a year or so, I'll ask for another free trade or two and consolidate my SPEM into EMGF. There's no reason you couldn't do the same with VTI and SPTM. (If you have other accounts there, it should be even easier for you. I no longer had the leverage of other business.)

To be honest, though, I'd use SPTM and call it a day. At 3 bp, it looks to be a fine replacement for VTI. If I hadn't decided to seize the opportunity to buy an emerging markets factor fund, I would have been happy with SPEM as a replacement for VWO.

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Sun Jan 14, 2018 11:27 pm

jhfenton wrote:
Sun Jan 14, 2018 9:53 pm
KATNYC wrote:
Sun Jan 14, 2018 9:37 pm
jhfenton wrote:
Fri Nov 10, 2017 1:45 pm

Also, if you are determined to use Vanguard mutual funds, you can make one initial purchase, and then set up free periodic investments on whatever schedule you want. So the mutual fund commission is only on the original purchase (and probably the eventual sale), not every year. (But I wouldn't use Vanguard mutual funds, or any mutual funds, at TD Ameritrade at this point.)
Can you expound on this free periodic investment?
We are more interested in Lively after dismissing them initially as a startup.

If we go with Lively, we will open 2017 accounts with $6,750 & invest in Vanguard ETF's - leaning toward VTI.
For 2018 contributions, presuming the payroll deduction is processed quickly with my megacorp, it will be a periodic investment with $300 deducted per pay period to hit $6,900 by December. Is there an option to do this for free with Lively rather than pay $6.95 commissions?
It's possible with TD Ameritrade to set up mutual fund periodic investments. For years, I had it set up for three mutual funds on a quarterly rotation in my Roth IRA at TDA. Every month, I'd put in the $416.66 ($5000 / 12) the day before the scheduled automatic investment, and it would be invested the next day. Two of the three funds had transaction fees, but I only had to pay the transaction fee the first time I bought the funds. The periodic investments and dividend reinvestments were free.

There's no reason you couldn't do the same thing with a mutual fund inside a TDA HSA brokerage account if you have money coming in on a regular basis.

But there's no way to auto-invest in an ETF.

The other option is calling up and requesting a free trade or three. I convinced TDA to give me three free trades, and I used one to invest most of my lump sum transfer into EMGF (iShares EDGE MSCI Multifactor Emerging Markets ETF). Going forward, I'm investing my quarterly transfers in commission-free SPEM. Then once a year or so, I'll ask for another free trade or two and consolidate my SPEM into EMGF. There's no reason you couldn't do the same with VTI and SPTM. (If you have other accounts there, it should be even easier for you. I no longer had the leverage of other business.)

To be honest, though, I'd use SPTM and call it a day. At 3 bp, it looks to be a fine replacement for VTI. If I hadn't decided to seize the opportunity to buy an emerging markets factor fund, I would have been happy with SPEM as a replacement for VWO.
I've been with TD for years (trading account) but never researched anything beyond how to use Think or Swim.
I prefer Vanguard and we use them for ROTHs (converted from tIRA's) and would love to use them for 401K but megacorp has private funds with no tickers (which has resulted in great returns so I can't complain). I was trying avoid too many accounts at different companies to rebalance the portfolio but agree it makes more sense to replace VTI with SPTM in an HSA.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by DavidRoseMountain » Tue Jan 16, 2018 5:54 pm

The cheapest way to do this is to use Saturna, and buy their T Rowe Price SP 500 Index fund, there's no fee at all, the expense ratio is .21%

Then when the balance on this mutual fund is high enough, (probably around $15,000) the expense ratio becomes higher than the fees charged, and then it makes sense to switch to other options - like the Vanguard mutual fund or VTI in SAturna, or perhaps some other custodian like Lively.

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Wed Jan 17, 2018 1:13 pm

DavidRoseMountain wrote:
Tue Jan 16, 2018 5:54 pm
The cheapest way to do this is to use Saturna, and buy their T Rowe Price SP 500 Index fund, there's no fee at all, the expense ratio is .21%

Then when the balance on this mutual fund is high enough, (probably around $15,000) the expense ratio becomes higher than the fees charged, and then it makes sense to switch to other options - like the Vanguard mutual fund or VTI in SAturna, or perhaps some other custodian like Lively.
We are setting up payroll deductions with Lively and investing those funds periodically throughout the year.
The commission-free list is here (no Vanguard) https://research.tdameritrade.com/grid/ ... onfree.asp

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Fri Jan 19, 2018 8:22 pm

I wanted to report on the long lag time to get money into Lively/TDAM using Lively's ACH transfer. This is not custodian rollover. The following is the timeline in business days:

Day 1: Submitted transfer request.
Day 2: Morning: Money was deducted from external bank, but it was not credited to Lively.
Day 3: No progress.
Day 4: Night: Money finally credited at Lively. I immediately submitted the request to move the money to TDAM.
Day 5: Waiting for the money to appear in TDAM...
Day 6: To be continued...

It's been a long while since I last used a financial institution that withheld your money from you for a few days during an ACH transfer (I usually avoid them).
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jhfenton
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Fri Jan 19, 2018 9:20 pm

indexfundfan wrote:
Fri Jan 19, 2018 8:22 pm
I wanted to report on the long lag time to get money into Lively/TDAM using Lively's ACH transfer. This is not custodian rollover. The following is the timeline in business days:

Day 1: Submitted transfer request.
Day 2: Morning: Money was deducted from external bank, but it was not credited to Lively.
Day 3: No progress.
Day 4: Night: Money finally credited at Lively. I immediately submitted the request to move the money to TDAM.
Day 5: Waiting for the money to appear in TDAM...
Day 6: To be continued...

It's been a long while since I last used a financial institution that withheld your money from you for a few days during an ACH transfer (I usually avoid them).
Hmm. I haven't attempted an ACH to Lively, so I can't say whether the delay on an ACH pull was normal. But I haven't seen more than an overnight delay on the transfers to TD Ameritrade. I would call or email them and see what's up.

In both of my transfers, it's gone like this:

Day x: Lively Submits transfer form to Fifth-Third Bank HSA
Day x+1: Fifth-Third deducts money from account (and mails check that day or next)
<about a week>
Day y (evening my time): Lively credits check, shown as pending, can't transfer to TDA yet.
Day y+1: Check posts, initiate transfer to TDA.
Day y+2: Transfer posts at TDA, ready to invest.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Fri Jan 19, 2018 9:50 pm

jhfenton wrote:
Fri Jan 19, 2018 9:20 pm
Hmm. I haven't attempted an ACH to Lively, so I can't say whether the delay on an ACH pull was normal. But I haven't seen more than an overnight delay on the transfers to TD Ameritrade. I would call or email them and see what's up.
I'd emailed them. That's their standard / normal speed for ACH.

I believe the ACH delay is caused by Choice Financial, Lively's cash funds custodian.
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jhfenton
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Fri Jan 19, 2018 9:58 pm

indexfundfan wrote:
Fri Jan 19, 2018 9:50 pm
jhfenton wrote:
Fri Jan 19, 2018 9:20 pm
Hmm. I haven't attempted an ACH to Lively, so I can't say whether the delay on an ACH pull was normal. But I haven't seen more than an overnight delay on the transfers to TD Ameritrade. I would call or email them and see what's up.
I'd emailed them. That's their standard / normal speed for ACH.

I believe the ACH delay is caused by Choice Financial, Lively's cash funds custodian.
Ouch. That would be annoying. I guess it's that third-party transfer factor. Vanguard doesn't let you transfer out newly-ACH'd money immediately either (the difference being that this doesn't feel like a transfer).

All my other institutions do ACH transfers next day or faster. My credit union even shows pending ACH transactions the same day. (They post overnight.)

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Mon Jan 22, 2018 1:14 pm

My ACH transfer to TDAM (Lively) is completed.

Day 1: Submitted transfer request (during business hours).
Day 2: Morning: Money was deducted from external bank, but it was not credited to Lively.
Day 3: No progress.
Day 4: Night: Money credited at Lively. I immediately submitted the request to move the money to TDAM.
Day 5: Waiting for the money to appear in TDAM.
Day 6: Money credited to TDAM.

While they deduct your money from your bank on the second day, it takes a total of 5 business days to get the money to TDAM.
Last edited by indexfundfan on Mon Jan 22, 2018 2:02 pm, edited 1 time in total.
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jhfenton
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Mon Jan 22, 2018 1:56 pm

That looks like 5 days to me. I don't think you get to count the initiating day. :beer

It's still longer than I consider reasonable.

Could you try a "push" from your bank account and see if it shortens or eliminates the effective hold time at Lively?

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Mon Jan 22, 2018 2:01 pm

jhfenton wrote:
Mon Jan 22, 2018 1:56 pm
That looks like 5 days to me. I don't think you get to count the initiating day. :beer

It's still longer than I consider reasonable.

Could you try a "push" from your bank account and see if it shortens or eliminates the effective hold time at Lively?
You're right. It should be 5. I edited my post.
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Mon Jan 22, 2018 2:07 pm

jhfenton wrote:
Mon Jan 22, 2018 1:56 pm
Could you try a "push" from your bank account and see if it shortens or eliminates the effective hold time at Lively?
This is one interesting suggestion. I did notice the Choice Financial ABA/Account numbers on the Lively website.

If I push in the money, it might shorten the time it takes for the money to be available at Lively. However, I probably would then have to email Lively after the transfer to tell them which year the contribution is for.
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jhfenton
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Mon Jan 22, 2018 3:25 pm

indexfundfan wrote:
Mon Jan 22, 2018 2:07 pm
jhfenton wrote:
Mon Jan 22, 2018 1:56 pm
Could you try a "push" from your bank account and see if it shortens or eliminates the effective hold time at Lively?
This is one interesting suggestion. I did notice the Choice Financial ABA/Account numbers on the Lively website.

If I push in the money, it might shorten the time it takes for the money to be available at Lively. However, I probably would then have to email Lively after the transfer to tell them which year the contribution is for.
Yes. Especially if it's not a current-year contribution.

My wife just started a new job, and her employer told her to set up her own HSA account and give them the account information to make deposits. Her employer will contribute $1,000 per year ($38.46/2 weeks). So we set up an account for her at Lively, and we will see how those deposits go. (We are still going to contribute the rest of our $6,900 limit to my HSA, since I already have a good-size invested balance. We are not going to bother investing hers.)

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Mon Jan 22, 2018 4:25 pm

jhfenton wrote:
Mon Jan 22, 2018 3:25 pm
My wife just started a new job, and her employer told her to set up her own HSA account and give them the account information to make deposits. Her employer will contribute $1,000 per year ($38.46/2 weeks). So we set up an account for her at Lively, and we will see how those deposits go. (We are still going to contribute the rest of our $6,900 limit to my HSA, since I already have a good-size invested balance. We are not going to bother investing hers.)
Yeah, if it's only $1000 in the first year, it is probably not worthwhile paying the $2.50/month.
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Mon Jan 22, 2018 9:46 pm

jhfenton wrote:
Fri Jan 19, 2018 9:20 pm
Hmm. I haven't attempted an ACH to Lively, so I can't say whether the delay on an ACH pull was normal. But I haven't seen more than an overnight delay on the transfers to TD Ameritrade. I would call or email them and see what's up.

In both of my transfers, it's gone like this:

Day x: Lively Submits transfer form to Fifth-Third Bank HSA
Day x+1: Fifth-Third deducts money from account (and mails check that day or next)
<about a week>
Day y (evening my time): Lively credits check, shown as pending, can't transfer to TDA yet.
Day y+1: Check posts, initiate transfer to TDA.
Day y+2: Transfer posts at TDA, ready to invest.
To clarify, this is one of the periodic transfers you're doing to move money from your employer-linked HSA at Fifth-Third to your preferred one at Lively? I just submitted my first periodic transfer and the confirmation said it can take up to 8 weeks :( so hopefully my experience is similar to yours. My in-kind transfer was totally painless though.

Oh, when I emailed Lively support to begin the process they said they're working on adding this function to the dashboard but " for the time being, please feel free to respond to this secure email every time you'd like us to initiate a transfer". So helpful! :P

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jhfenton
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Mon Jan 22, 2018 9:56 pm

TropikThunder wrote:
Mon Jan 22, 2018 9:46 pm
jhfenton wrote:
Fri Jan 19, 2018 9:20 pm
Hmm. I haven't attempted an ACH to Lively, so I can't say whether the delay on an ACH pull was normal. But I haven't seen more than an overnight delay on the transfers to TD Ameritrade. I would call or email them and see what's up.

In both of my transfers, it's gone like this:

Day x: Lively Submits transfer form to Fifth-Third Bank HSA
Day x+1: Fifth-Third deducts money from account (and mails check that day or next)
<about a week>
Day y (evening my time): Lively credits check, shown as pending, can't transfer to TDA yet.
Day y+1: Check posts, initiate transfer to TDA.
Day y+2: Transfer posts at TDA, ready to invest.
To clarify, this is one of the periodic transfers you're doing to move money from your employer-linked HSA at Fifth-Third to your preferred one at Lively? I just submitted my first periodic transfer and the confirmation said it can take up to 8 weeks :( so hopefully my experience is similar to yours. My in-kind transfer was totally painless though.

Oh, when I emailed Lively support to begin the process they said they're working on adding this function to the dashboard but " for the time being, please feel free to respond to this secure email every time you'd like us to initiate a transfer". So helpful! :P
Yes. Fifth-Third initially told Lively it could be 30-60 days, but then Fifth-Third cut the check the next business day after receiving the form from Lively and mailed it promptly. And the second time was just as fast.

It entirely depends on your transferring custodian, though. Their back office could sit on it for a while. Fifth-Third is admirably prompt. (And they don’t charge a fee unless you close the account.)

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Mon Jan 22, 2018 11:36 pm

jhfenton wrote:
Mon Jan 22, 2018 9:56 pm
TropikThunder wrote:
Mon Jan 22, 2018 9:46 pm
To clarify, this is one of the periodic transfers you're doing to move money from your employer-linked HSA at Fifth-Third to your preferred one at Lively? I just submitted my first periodic transfer and the confirmation said it can take up to 8 weeks :( so hopefully my experience is similar to yours. My in-kind transfer was totally painless though.

Oh, when I emailed Lively support to begin the process they said they're working on adding this function to the dashboard but " for the time being, please feel free to respond to this secure email every time you'd like us to initiate a transfer". So helpful! :P
Yes. Fifth-Third initially told Lively it could be 30-60 days, but then Fifth-Third cut the check the next business day after receiving the form from Lively and mailed it promptly. And the second time was just as fast.

It entirely depends on your transferring custodian, though. Their back office could sit on it for a while. Fifth-Third is admirably prompt. (And they don’t charge a fee unless you close the account.)
Thanks for the info. I mentioned my plan to a co-worker and the next thing I know I've become the go-to for everyone else at my company who doesn't want to use Health Equity (granted most people aren't investing their HSA money so they don't care about HE's investing fees).

Savesavesave
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by Savesavesave » Mon Jan 22, 2018 11:50 pm

If in a HDHP with HSA, but employer doesn't do payroll deductions (i.e. we contribute from checking account), if lively is easier to use than the employer's custodian, is there any reason not to pay the $30 and use lively?

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fundtalker123
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by fundtalker123 » Mon Jan 22, 2018 11:59 pm

I spent a long time looking for a good HSA because my employer one "sucked" - I decided on "Elements Financial". After I invested the employer changed providers and the plan is much better. Now I'm considering switching to the employer contracted one...

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Tue Jan 23, 2018 8:40 pm

Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Tue Jan 23, 2018 8:48 pm

KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
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KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Tue Jan 23, 2018 10:07 pm

indexfundfan wrote:
Tue Jan 23, 2018 8:48 pm
KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
Thanks! Got the Lively debit card today. Tossed it in the shredder.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Tue Jan 23, 2018 10:11 pm

KATNYC wrote:
Tue Jan 23, 2018 10:07 pm
Thanks! Got the Lively debit card today. Tossed it in the shredder.
Ha! That's what I did with mine when it came back in October. I didn't want the debit card floating around the house when I am going to keep $0.00 in the Lively cash account.

I actually called Lively up after opening my account online to ask if there was any way to stop the debit card from coming. They checked and said there was not. It was an automated process through their bank custodian.

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Tue Jan 23, 2018 10:31 pm

Yes, I tried the same thing. They have to send the debit cards. Weird since it's such a waste of time just to shred them.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Wed Jan 24, 2018 10:01 am

indexfundfan wrote:
Tue Jan 23, 2018 8:48 pm
KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
It posted around 2 am.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Wed Jan 24, 2018 10:34 am

KATNYC wrote:
Wed Jan 24, 2018 10:01 am
indexfundfan wrote:
Tue Jan 23, 2018 8:48 pm
KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
It posted around 2 am.
Wow, have you been checking every hour? :shock:
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KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Wed Jan 24, 2018 1:02 pm

indexfundfan wrote:
Wed Jan 24, 2018 10:34 am
KATNYC wrote:
Wed Jan 24, 2018 10:01 am
indexfundfan wrote:
Tue Jan 23, 2018 8:48 pm
KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
It posted around 2 am.
Wow, have you been checking every hour? :shock:
No. Not at all. I checked before bed around 11:30 pm. Didn't check again until making the last post at 10 am.
Lively emailed around 2 am confirming the contribution posted.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Thu Jan 25, 2018 8:38 am

indexfundfan wrote:
Tue Jan 23, 2018 8:48 pm
KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
Cash showed up. Put in a limit order with TDAM.

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indexfundfan
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Thu Jan 25, 2018 8:39 am

KATNYC wrote:
Thu Jan 25, 2018 8:38 am
indexfundfan wrote:
Tue Jan 23, 2018 8:48 pm
KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
Cash showed up. Put in a limit order with TDAM.
:thumbsup I bought SPDW with mine.
My signature has been deleted.

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Thu Jan 25, 2018 8:57 am

indexfundfan wrote:
Thu Jan 25, 2018 8:39 am
KATNYC wrote:
Thu Jan 25, 2018 8:38 am
indexfundfan wrote:
Tue Jan 23, 2018 8:48 pm
KATNYC wrote:
Tue Jan 23, 2018 8:40 pm
Still waiting for my 2017 $6,750 contribution made on 1/18 to move from pending to available at Lively. I did a pull with Lively from my bank.
It cleared my bank on 1/19 around 6:30 am.

I set up a direct deposit on paydays to Lively.
According to my experience, the money should move from pending to available later tonight. You can then request to transfer the money to TDAM. It should reach there on 1/25 morning.
Cash showed up. Put in a limit order with TDAM.
:thumbsup I bought SPDW with mine.
Buying DGS

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indexfundfan
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Thu Jan 25, 2018 9:15 am

KATNYC wrote:
Thu Jan 25, 2018 8:57 am
Buying DGS
Wow, that's an "extreme" tilt. I thought earlier you said you were going for a total market ETF. :shock:
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KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Thu Jan 25, 2018 9:24 am

indexfundfan wrote:
Thu Jan 25, 2018 9:15 am
KATNYC wrote:
Thu Jan 25, 2018 8:57 am
Buying DGS
Wow, that's an "extreme" tilt. I thought earlier you said you were going for a total market ETF. :shock:


No, DGS is only 2.1% based on my simulated morningstar style box.

We have VISVX about 4% & VFSVX about 4% in ROTHs



401K has CITs with 91% of holdings. Similar funds/ticker are:

Large Cap Equity Index Fund - NT Collective S&P 500 Index Fund - VFIAX

Small & Mid Cap Equity Index - NT Extended Equity Market Index Fund - VEXAX

International Equity Index Fund - All Country World ex-US Investable Market Index Fund - VTIAX

Company stock - large cap



Image

Image

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Fri Jan 26, 2018 7:15 am

I noticed Lively provides a set of ABA/Acc numbers. Has anyone tried pushing money into Lively through ACH?
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indexfundfan
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Sat Jan 27, 2018 11:27 am

Here's Lively's reply when I asked them about the long ACH time and pushing money into Lively:

We’ve actually been working on speeding up the posting of funds so the delay should go down in the near future. With the way the banking network works, there’s a 2-4 banking day delay between funds actually clearing across financial institutions which is the reason for the delay. But we should be able to speed that up soon.

You can push funds to your Lively account using the account and routing numbers. However, if the funds don’t come over as an ACH credit from your bank, they won’t show up correctly in Lively. So it’s best to initiate the funds transfer in Lively itself. If they do come over as an ACH credit, they will be marked as a 2018 contribution.
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MrBrainwash
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by MrBrainwash » Sun Jan 28, 2018 4:08 pm

I just wanted to chime in on this thread to say that I moved my HSA from Stanford Federal Credit Union to Lively, and I've been very pleased.

I've been meaning to move my HSA to a custodian that allows investment for a few years, but every time I looked at the options (HSA Bank, etc.) I got fed up and didn't do it. Too much hassle, gimmicky fee structures, etc.

With Lively, I was able to open an account, have them do a direct rollover from Stanford FCU, and get the money invested with TD Ameritrade in just a few weeks (and I started the process a few days before Christmas). I was able to do everything online, and never had to call anyone. Lively charges $2.50 / mo = $30 / yr to invest through TD Ameritrade, which isn't too bad, and is worth it for the lack of hassle compared to other HSA custodians. And they take that $30 / yr out of your linked checking account, not your HSA funds, which is nice.

I'm glad that I was finally able to get my HSA funds invested in low-cost ETFs. Lively has my strongest recommendation.

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Sun Jan 28, 2018 4:17 pm

indexfundfan wrote:
Fri Jan 26, 2018 7:15 am
I noticed Lively provides a set of ABA/Acc numbers. Has anyone tried pushing money into Lively through ACH?
I set up a direct deposit from my paycheck to Lively. The first deposit is next week. I will update here on how long it takes.

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jhfenton
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Sun Jan 28, 2018 4:52 pm

KATNYC wrote:
Sun Jan 28, 2018 4:17 pm
indexfundfan wrote:
Fri Jan 26, 2018 7:15 am
I noticed Lively provides a set of ABA/Acc numbers. Has anyone tried pushing money into Lively through ACH?
I set up a direct deposit from my paycheck to Lively. The first deposit is next week. I will update here on how long it takes.
Same here. We just opened a Lively account for my wife's new job to receive her employer contributions through payroll. Her first deposit should be in 12 days.

I wish my employer would let me choose my HSA provider. I have to make my payroll contributions through my employer-selected HSA provider and then transfer the money periodically. :annoyed

arsenal_fan
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by arsenal_fan » Mon Jan 29, 2018 10:14 pm

Anyone advice on here move from people who've moved from HSA Bank + TDAmeritrade to Lively + TDAmeritrade? Need to do it soon and so am not sure if I need to sell (and rebuy) my investments in TDAmeritrade when I make the switch.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by broslami » Mon Jan 29, 2018 10:39 pm

arsenal_fan wrote:
Mon Jan 29, 2018 10:14 pm
Anyone advice on here move from people who've moved from HSA Bank + TDAmeritrade to Lively + TDAmeritrade? Need to do it soon and so am not sure if I need to sell (and rebuy) my investments in TDAmeritrade when I make the switch.
I'm actually in process of doing this exact thing right now. You just need to open up a new TD account through Lively and then tell them you want to transfer, and they'll send you the paperwork to sign to do this. Pretty easy.

Easy Rhino
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by Easy Rhino » Wed Jan 31, 2018 1:40 am

jhfenton wrote:
Fri Nov 10, 2017 1:45 pm

And the Saturna paperwork is truly absurd. I can only assume that all of their processes are that primitive and time-consuming and their customer service that poor.
Agree on too much paperwork. Heck the last time I did a rollover a week or two later i was contacted and asked to provide proof of withdrawal from my employer hsa... something that was not a documented requirement.

But Their customer support people are actually super nice

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by jhfenton » Wed Jan 31, 2018 8:45 am

Easy Rhino wrote:
Wed Jan 31, 2018 1:40 am
jhfenton wrote:
Fri Nov 10, 2017 1:45 pm

And the Saturna paperwork is truly absurd. I can only assume that all of their processes are that primitive and time-consuming and their customer service that poor.
Agree on too much paperwork. Heck the last time I did a rollover a week or two later i was contacted and asked to provide proof of withdrawal from my employer hsa... something that was not a documented requirement.

But Their customer support people are actually super nice
That's good to hear. :beer Nice people, bad systems is a common situation.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Wed Jan 31, 2018 10:16 pm

broslami wrote:
Mon Jan 29, 2018 10:39 pm
arsenal_fan wrote:
Mon Jan 29, 2018 10:14 pm
Anyone advice on here move from people who've moved from HSA Bank + TDAmeritrade to Lively + TDAmeritrade? Need to do it soon and so am not sure if I need to sell (and rebuy) my investments in TDAmeritrade when I make the switch.
I'm actually in process of doing this exact thing right now. You just need to open up a new TD account through Lively and then tell them you want to transfer, and they'll send you the paperwork to sign to do this. Pretty easy.
I second this. You do need to set up a new TDA account through the Lively portal so that it's registered properly as a custodial account ("Lively HSA FBO your name") but once I submitted my request to transfer in-kind from HSA/TDA to Lively/TDA, it took only 2 days for the shares to show up in the new TDA account.

Quickest way is to email Lively support and tell them you want to do an in-kind transfer. They ask a few questions and fill out the form, you sign it electronically (actually, you take a photo of your signature and upload it), they submit it and voila. They're super friendly too.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Wed Jan 31, 2018 10:24 pm

jhfenton wrote:
Sun Jan 28, 2018 4:52 pm
I wish my employer would let me choose my HSA provider. I have to make my payroll contributions through my employer-selected HSA provider and then transfer the money periodically. :annoyed
Same here. My employer is using Health Equity (they of the $2,000 held hostage before investing and the 40bp annual wrap fee on Vanguard funds). Lively sent them my transfer request last Monday (today is day 9) and HE says they never got it (Lively says they faxed it and received confirmation). Lively re-faxed it today (again received confirmation) so we'll see. HE also says they will freeze the account for 1 week following receipt of a transfer request to allow charges to settle (I don't HAVE any charges :annoyed ) then it 's another 1-2 weeks to get the money to the new custodian.

Their foot-dragging is making me reconsider foregoing the FICA deduction and making contributions manually (not via payroll). I think I will make more getting the funds invested ASAP then I'd lose in FICA taxes (~$200/yr).

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Wed Jan 31, 2018 11:58 pm

Direct deposit hit today at my bank. I got an email from Lively that my HSA contribution posted.
I logged in and do not see it posted but it may take a bit to fully process.

TropikThunder
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by TropikThunder » Thu Feb 01, 2018 1:08 am

jhfenton wrote:
Mon Jan 22, 2018 9:56 pm
Fifth-Third initially told Lively it could be 30-60 days, but then Fifth-Third cut the check the next business day after receiving the form from Lively and mailed it promptly. And the second time was just as fast.

It entirely depends on your transferring custodian, though. Their back office could sit on it for a while. Fifth-Third is admirably prompt. (And they don’t charge a fee unless you close the account.)
I was going back over this thread and noted your transfer experience. Lucky you that 5th-3rd cuts the check that quickly. Health Equity told me they freeze the account for a week after receiving a transfer request (to let pending charges process HA!) before they cut a check. Sad! :annoyed

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by desiderium » Thu Feb 01, 2018 6:33 am

TropikThunder wrote:
Thu Feb 01, 2018 1:08 am
jhfenton wrote:
Mon Jan 22, 2018 9:56 pm
Fifth-Third initially told Lively it could be 30-60 days, but then Fifth-Third cut the check the next business day after receiving the form from Lively and mailed it promptly. And the second time was just as fast.

It entirely depends on your transferring custodian, though. Their back office could sit on it for a while. Fifth-Third is admirably prompt. (And they don’t charge a fee unless you close the account.)
I was going back over this thread and noted your transfer experience. Lucky you that 5th-3rd cuts the check that quickly. Health Equity told me they freeze the account for a week after receiving a transfer request (to let pending charges process HA!) before they cut a check. Sad! :annoyed
I just completed my transfer from HealthEquity to Lively. It took them ~15 days. HealthEquity always annoyed me so I am glad to be gone

KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Thu Feb 01, 2018 10:29 am

KATNYC wrote:
Wed Jan 31, 2018 11:58 pm
Direct deposit hit today at my bank. I got an email from Lively that my HSA contribution posted.
I logged in and do not see it posted but it may take a bit to fully process.
It showed up by the time I logged in this morning and shows as contributed 1/31. I transferred the funds to TDAM.

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Re: New HSA provider Lively offers investments for $30/yr fee

Post by indexfundfan » Thu Feb 01, 2018 8:12 pm

KATNYC wrote:
Thu Feb 01, 2018 10:29 am
KATNYC wrote:
Wed Jan 31, 2018 11:58 pm
Direct deposit hit today at my bank. I got an email from Lively that my HSA contribution posted.
I logged in and do not see it posted but it may take a bit to fully process.
It showed up by the time I logged in this morning and shows as contributed 1/31. I transferred the funds to TDAM.
Interesting information.

Do you know when did the employer push the money into Lively? Did they push on 1/31 and it is available for you to transfer to TDA on 2/1?
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KATNYC
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Re: New HSA provider Lively offers investments for $30/yr fee

Post by KATNYC » Thu Feb 01, 2018 8:14 pm

indexfundfan wrote:
Thu Feb 01, 2018 8:12 pm
KATNYC wrote:
Thu Feb 01, 2018 10:29 am
KATNYC wrote:
Wed Jan 31, 2018 11:58 pm
Direct deposit hit today at my bank. I got an email from Lively that my HSA contribution posted.
I logged in and do not see it posted but it may take a bit to fully process.
It showed up by the time I logged in this morning and shows as contributed 1/31. I transferred the funds to TDAM.
Interesting information.

Do you know when did the employer push the money into Lively? Did they push on 1/31 and it is available for you to transfer to TDA on 2/1?
Payday was yesterday 1/31. Money was pushed to Lively 1/31. It was available per an email around 11: 55 pm but not there when I checked. Per Lively, it was available around 12:15 am although I didn't check a second time at 12:15 am. I transferred to TDAM on 2/1.

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