Related Posts
More Posts
Additional Posts in FIRE Financial Independence Retire Early
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Download the Fishbowl app to unlock all discussions on Fishbowl.
Copy and paste embed code on your site
Send download link to your phone
OR
Scan your QR code to download
Fishbowl app on your mobile
Save and invest it. Health expenses will come with age and I might as well have tax free money to cover it given the SP stays its course of realizing an average 8% gain year over year
Save it but keep receipts for disbursement closer to/in retirement when my investments have had years and years to grow tax free
Great idea - is there a time limit for these?
Mentor
I'm saving and investing it. 30+ years of tax free capital gains is worth more than 1 or 2 years of tax free capital gains.
Its also nice to know I have a few hundred dollars (of banked expenses) I could access quickly in an emergency.
I started doing this after listening to a woman on a podcast who uses HSAs as her kids college funds. Apparently for FAFSA purposes a HSA isn't considered to be an asset but a 529 is. I cant find a link to the podcast but this person was interviewed on GCC
https://www.gocurrycracker.com/hacking-the-hsa-for-college/
My plan is to max it out every year and not touch it. I think of it as another 401k, which I also max out every year. I did pay a Bill with it though already this year so we will see how it goes. It was $1000 and it was either the HSA card or a credit card. I went with the HSA but if I had the cash I would have paid out of pocket.
Saving and investing for now. 37. Extremely minimal health costs now and I’d rather pay “out of pocket” to keep HSA funds invested.
Using it on health expenses. HSA fees are too high to keep around and investment options are terrible.
That first point goes with the second. You can be aggressive with a segment of your investments, and that will likely get you greater net gains than the tax-advantaged accounts. When I said “know what you’re doing” I meant not trading with emotions, choosing investments with sound fundamentals, taking calculated risks, etc. Not tossing it all on GameStop or Tesla.