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re: Anybody else using their HSA as a retirement vehicle?

Posted on 3/22/24 at 8:43 am to
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37857 posts
Posted on 3/22/24 at 8:43 am to
quote:

You max out your HSA and then put it into a retirement account? You aren’t required to use it on medical expenses?


When you turn 65, the penalty for not using it for medical expenses goes away.

It becomes a non-qualified distribution - which is taxable, but not penalized. That makes it similar to an IRA, etc.

Whereas before age 65, it would be taxable AND penalized.

Many HSAs allow you to invest the balance in a portfolio once you reach a certain value.

Posted by DawgCountry
Great State of GA
Member since Sep 2012
30789 posts
Posted on 3/22/24 at 9:02 am to
quote:

Many HSAs allow you to invest the balance in a portfolio once you reach a certain value.




yep I think mine forces me to keep $1000 or so in "cash" but I am free to invest the rest. have around 50K last time I looked
Posted by Robin Masters
Birmingham
Member since Jul 2010
31545 posts
Posted on 3/22/24 at 10:52 am to
quote:

LSUFanHouston


Ty sir!
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