Ep 59 |  How to Turn Your Employee Benefits into Real Wealth with Ryan McDermott

Whenever you're ready take our free financial health assessment: https://www.foxhillwealth.com/financial-health-quiz   DISCLAIMER: This content is for educational and informational purposes only and should not be construed as investment, tax, or legal advice. Past market performance is not a guarantee of future results. Always consult with a financial professional before making investment decisions.   Follow along at: 👉 LinkedIn: https://www.linkedin.com/company/fox-hill-wealth 👉 Instagram: https://www.instagram.com/foxhillwealth 👉 YouTube: https://www.youtube.com/@FoxHillWealthManagement Is your employer secretly your most powerful financial partner?    Most people look at their job and just see a paycheck. But in this episode, we’re peeling back the curtain on the wealth-generating strategies hidden right inside your benefits package.   Joining us is Ryan McDermott from Prism Benefits. Ryan is on a mission to stop the "GoFundMe" cycle of financial planning. When you realize that 60% of hard-working people can't swing a $1,000 emergency without a credit card, it’s clear something is broken. We’re breaking down how you can use "lawfully designed" benefits to bridge that gap and build real security.   What we’re talking about today: The "Triple-Tax" Win: Why we’re obsessed with HSAs and how to stop being afraid of high deductibles so you can start building a healthcare war chest. The Disability Trap: Don't let a "free" benefit from your boss become a tax nightmare later. We explain why a simple W2 "gross-up" is a game-changer for your protection. Beyond the Basics: From "carve-outs" for high earners to why accident insurance is a must-have for the trades, we’re showing you how to stop leaving money on the table.   We’re also checking the pulse of the market: from the Supreme Court’s tariff shocker to why IBM just got hit by the "AI disruption" train "AI isn't coming for your job, but the person using AI might be." If you’re ready to see where you stand on your own financial journey, head over to https://www.foxhillwealth.com/financial-health-quiz and take our financial health assessment today.   For educational purposes only. This podcast is not financial, tax, or investment advice. For personalized guidance, please contact us directly. TIMESTAMPS:  01:10 Financial Insecurity Stats 03:11 Supreme Court Tariffs 06:30 Nvidia Earnings Reaction 08:59 AI Disruption Fears 11:44 Adopting AI at Work 15:57 Main Topic Setup 16:34 Health Insurance Cost Spiral 16:59 Runaway Benefit Costs 17:25 Redirecting Savings 18:13 Benefits Plan Checkup 19:34 Disability Tax Trap 20:24 Employer Paid Disability Fix 22:19 HSA Basics Explained 23:16 HSA Plan Rules 25:17 Maxing and Investing HSAs 26:58 Voluntary Benefits That Matter 30:52 Coverage Caps for High Earners 32:31 Education and Wrap Up