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Started By
Message
re: HSA for retirement
Posted on 2/12/19 at 8:17 am to PhiTiger1764
Posted on 2/12/19 at 8:17 am to PhiTiger1764
quote:
He is choosing to delay reimbursing himself
Incorrect, he says he will take the funds out early if he needs to (see quote below). In the event that he never “needs” to use the funds, he would have voluntarily paid for all of his medical expenses with after tax dollars (thus needlessly overpaying taxes)
quote:
If i need funds early, i will just save receipts and be reimbursed for years passed medical expenses
2
Posted on 2/12/19 at 8:49 am to MikeBRLA
I plan on keeping records of all my incurred medical expenses- thus avoiding taxation when funds are withdrawn fron the HSA- hoplfully 20-30 years in the future to allow dollars to grow
Any dollars I have in excess of medical expenses, i plan to withdraw after 65 to avoid 20% penalty or use for medical expenses in retirement.
Any dollars I have in excess of medical expenses, i plan to withdraw after 65 to avoid 20% penalty or use for medical expenses in retirement.
Posted on 2/12/19 at 9:00 am to MikeBRLA
Early here means nothing from a tax standpoint, thats just his early based on his own timeline. He'll still get the tax benefits.
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