How should I allocate my HSA investments?

I have $20,000 in my HSA. We pay common Medical bills out of pocket. I currently have $4,000 of this amount invested {20%} in Vanguard Funds, 70% Stock/30% Bond. I can't really find any info on the web pertaining to HSA Investment Allocation. What do you recommend, should I invest conservatively? I'm 62 years old, my wife is 55 and we max our contributions each year.

Financial Planning, Investing
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May 2017
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it really comes down to your individual health and medical costs. if you are healthy and don't expect sizable medical bills in the next 3-5 years, then you can be a bit more aggressive. In that case, 70% Stock, 30% Bonds portfolio sounds reasonable. The growth will help you catch up with the ever rising cost of healthcare. If you currently have or expect large medical bills in the near future, then I would recommend a more conservative portfolio which will ensure that you will have the money you need to cover your cost. 

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