{ "media_type": "text", "post_content": "I have both Roth IRA and HSA...is it better to prioritize HSA first? Since you can’t really use either until retirement (except for medical), and HSA is another layer of tax advantage?", "post_id": "60535527b4267d002a87fe98", "reply_count": 11, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

I have both Roth IRA and HSA...is it better to prioritize HSA first? Since you can’t really use either until retirement (except for medical), and HSA is another layer of tax advantage?

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The typical recommended order of priority is 401k up to employer match, then HSA, then IRA, then max out 401k. But I think a case could be made to go for the IRA before HSA (like K1 said, it has more flexibility)

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I’d probably split 50/50 between the two until the HSA is maxed out and then work on maxing Roth. Unless you have a near term medical expense you couldn’t pay for outside of HSA then I’d put more in HSA to cover that but ideally HSA grows you pay for minimal medical expenses out of other savings.

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Roth does have more flexibility to withdraw for non medical expenses after the 5 year holding limit without penalties. Not an answer to your question but something to consider

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Correct

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Also note that there is no time limit on reimbursing yourself for your qualified medical expenses with HSAs.... meaning, you can accumulate all the spending you are paying out of pocket now toward your deductible, and cash it out when ever you want/need access to that cash. I’ve maxed out my deductible the past 2-3 years but I paid out of pocket for most all of that. But should I need $5K for an emergency or whatever. I have the receipts showing money was spent on qualified expenses and I’m eligible to withdraw it, tax-free.

HSA is the best vehicle

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