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re: Anybody else using their HSA as a retirement vehicle?
Posted on 3/23/24 at 12:34 am to Celery
Posted on 3/23/24 at 12:34 am to Celery
quote:
I’ve been using mine for medical expenses. Should I not be doing that?
If you can afford to pay the expenses out of pocket, it can make sense to let it grow in the HSA. That's what I'm doing.
I've been tracking eligible expenses for several years. I've already got 12k that I can reimburse myself at any time tax free.
Imo after a company 401k match, the HSA is even more valuable than a Roth IRA. It's the only investment vehicle that offers tax deductible contributions, tax deferred growth and tax free withdrawals for medical expenses. Nothing else is triple tax advantaged like the HSA.
This post was edited on 3/23/24 at 12:35 am
1
Posted on 3/23/24 at 8:38 am to gpburdell
quote:
Imo after a company 401k match, the HSA is even more valuable than a Roth IRA. It's the only investment vehicle that offers tax deductible contributions, tax deferred growth and tax free withdrawals for medical expenses. Nothing else is triple tax advantaged like the HSA.
That’s why I love this board. This never even crossed my mind. Kudos.
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