ByteOnBikes@slrpnk.net to Mildly Infuriating@lemmy.worldEnglish · 6 days agoThere is a fee to close my HSA accountslrpnk.netimagemessage-square29fedilinkarrow-up1236arrow-down15
arrow-up1231arrow-down1imageThere is a fee to close my HSA accountslrpnk.netByteOnBikes@slrpnk.net to Mildly Infuriating@lemmy.worldEnglish · 6 days agomessage-square29fedilink
minus-squareieatpillowtags@lemm.eelinkfedilinkEnglisharrow-up2·6 days agoWhy is it better than unmatched 401k?
minus-squareAA5B@lemmy.worldlinkfedilinkEnglisharrow-up4·6 days ago401k money is taxable as regular income on withdrawal. The expectation is you will be in a lower tax bracket after retiring, so you win. HSA is not taxable, although I don’t know if that’s just when used for medical expenses
minus-squarephdepressed@sh.itjust.workslinkfedilinkEnglisharrow-up5·5 days agoAfter 65 they don’t audit what you withdraw for.
Why is it better than unmatched 401k?
401k money is taxable as regular income on withdrawal. The expectation is you will be in a lower tax bracket after retiring, so you win.
HSA is not taxable, although I don’t know if that’s just when used for medical expenses
After 65 they don’t audit what you withdraw for.