Ep 9: How to use your HSA as a Retirement Account

You could use your Health Savings Account (HSA) to pay for current medical expenses. However, if you can, I recommend that you invest the full HSA amount into the stock market and allow it to grow and compound. The HSA is the only account that has triple-tax benefits: you don't pay taxes on contributions, growth or withdrawals (for qualified medical expenses). Did you know:You can save your receipts for current medical expenses and pay yourself back in the future?You don't have to have the money in your HSA currently, as long as the account is open, start saving receipts.After the age of 65, you can withdraw money from your HSA for any reason and pay taxes on the gains?This is like having an additional 401k account!Qualified medical expenses include dental, vision, hearing aids, chiropractic care, eyeglasses and more!You can contribute up to $3,600 as an individual or $7,200 as a familyPlus an additional $1,000 as a catch-up if you're over age 55Resources:What is an HSA and how to use it?Where should I save money?Find out more about Mike at https://www.mortonfinancialadvice.com and connect at https://www.linkedin.com/in/mwsmorton/