Author Topic: Lively HSA  (Read 3216 times)

jpdx

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Lively HSA
« on: December 12, 2017, 12:04:58 AM »
Anyone using Lively for their HSA administrator?

https://livelyme.com

I was going to go with Saturna but it seems silly in 2017 to fill out paperwork by hand, mail in paper checks, and make phone calls to transfer funds. A user-friendly web interface is important and Lively appears to offer that, in addition to low cost for people who want to invest. The only negative I see is the risk of going with a new, unproven startup.

jpdx

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Re: Lively HSA
« Reply #1 on: January 03, 2018, 12:32:04 AM »
Bump. Anyone?

Seradoc

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Re: Lively HSA
« Reply #2 on: January 03, 2018, 06:54:13 AM »
I am using them.  I sent a lump sum of cash over from my other HSA for investment purposes, retaining my old HSA for any normal expenditures, a few months ago.



Setup and transfer of monies involved a series of emails and electronic forms.  It was fairly painless, but a slow process that took a bit of time.  They will necessarily send you a card, but I destroyed mine since I don't plan to spend money from this account.  I had a number of questions during the process and their representatives were responsive and helpful.

After I set up the HSA, I believe I had to jump through additional hoops to turn on investments, which is via a TDAmeritrade account.  I forget if I made this account of if they did, but it has my preferred login handle.  TDAmeritrade has a terrible password policy though which none of my passwords conformed to, since they disallow special characters.  I also had to jump through another hoop with TDAmeritrade to turn on commission-free ETF trading.  This allowed me to invest in VTI without a commission.



I am not a fan of the TDAmeritrade website, which is cumbersome and seems like it encourages day-trading.

While the Lively website has improved significantly from what it was, it is not great. Previously it lacked detail and visibility into your accounts and such, which has improved.  However, in my opinion the site is quirky/cumbersome and seems like it is intended to be used on a phone rather than through a web browser.

At the end of the day, the whole thing is on auto-pilot and I don't look at the sites anyway.  The service seems to be working out fine for someone who just wants to passively invest their HSA monies.



Since then, they have debited my linked bank account for $2.50 each month and sent a receipt of this transaction via email, which is the cost of doing business with them.  In that time my assets have appreciated a few thousand dollars in a few months, which is preferable to the $375/year I would have received in interest previously.
« Last Edit: January 03, 2018, 07:02:24 AM by Seradoc »

jpdx

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Re: Lively HSA
« Reply #3 on: January 06, 2018, 01:32:27 AM »
Thank you for the info. I am signing up now and report back as well.

jpdcpajd

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Re: Lively HSA
« Reply #4 on: January 10, 2020, 09:20:29 PM »
What are the fees associated with Lively
I have Bank of america and they charge me no fees but I am limited to mutual funds not ETFs or Ind Stocks

terran

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Re: Lively HSA
« Reply #5 on: January 10, 2020, 09:59:53 PM »
Lively is one of two HSA providers I'm aware of that has no monthly fees, no fees for investing, and lets you invest everything in the account. The other is Fidelity. I switched to Fidelity as soon as they started since Lively was still charging fees to invest until Fidelity put the pressure on them. If Lively had moved a little faster with dropping fees I might not have switched, but I'm just as glad I did because I have other accounts with Fidelity and the Fidelity account can be invested where it is instead of moving money back and forth between the bank account and the TD Ameritrade investing account like Lively. Long story short: my first choice would be Fidelity with Lively coming in a close second.

seattlecyclone

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Re: Lively HSA
« Reply #6 on: January 11, 2020, 09:45:08 AM »
We moved my wife's HSA to Lively just before Fidelity got into the picture. It's fine. No fees as advertised. I agree with @Seradoc about the TD Ameritrade interface. It seems designed more for a serious day trader than a buy and hold index investor. We're not looking to move it again, because Lively is fine, but if we had to do it over I'd probably go with Fidelity now.

kenmoremmm

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Re: Lively HSA
« Reply #7 on: January 11, 2020, 10:56:03 PM »
thanks for bumping this thread.

my company just set up an HSA and lively is the company of choice. i, too, agree that TD's website sucks and encourages daytrading.

i am looking to purchase VGSLX : VANGUARD REAL ESTATE INDEX ADMIRAL, but apparently it has a $25 transaction fee.

does anyone know if i were to roll funds into fidelity if i could purchase the vanguard fund without fees? or, is there a fidelity fund of similar goodness?

sorry to hijack thread....

seattlecyclone

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Re: Lively HSA
« Reply #8 on: January 12, 2020, 01:16:07 AM »
I believe TD Ameritrade has jumped on the free stock/ETF trade bandwagon, so you can probably go with VNQ, the ETF version of VGSLX.

thesis

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Re: Lively HSA
« Reply #9 on: January 13, 2020, 08:57:30 AM »
They didn't do a very good job announcing that they were dropping the investment fee. It really freaked me out for awhile when I wasn't seeing how my fee was being charged until I realized that they no longer charged it. Which is cool, but if the announcement was in there somewhere, I must have really missed it. And I really didn't like not being clear on that.

At first I really loved the simplicity of their site. But for a long time now the link to my TDAmeritrade account has been broken, so I have to lookup both usernames and passwords when I really want to check on things. For that reason, I'll be switching to Fidelity. Plus, I hate TDAmeritrade, it's full of ticker puke and it's always a struggle just to make sense of your numbers, plus I have yet to find my transaction history, and really no longer care. It's kind of too bad, Lively seems like a good company, but they really only have one product, whereas by having my account through Fidelity, it's everything all-in-one, include my additional Fidelity accounts.

Also, if I'm going to login to Lively, I have to remember to search "Lively HSA" to avoid embarrassment at work....

jpdx

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Re: Lively HSA
« Reply #10 on: January 15, 2020, 04:34:51 PM »
I'm loving the zero fees, but I also really dislike the integration between Lively and TDA. Reimbursement requires multiple steps -- sell stocks, then transfer funds, then reimburse -- with a couple business days waiting in-between steps. And, yep, the TDA interface is not well-suited for buy-and-hold investors like us.