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40 year olds, what financial advice would you have for a 30 year old?
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this post was submitted on 11 Sep 2026
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Can you explain what you mean about the HSA being more of a retirement account? Can't you only use that money on medical or health related purchases? I understand the possible tax savings through an HSA, but I don't see how it could be a retirement account.
After you turn 65 there is no penalty for using your HSA for non-medical purchases, you just have to pay income tax on withdrawls. This effectively turns an HSA into an IRA after you turn 65. So you can contribute pre-tax, it grows tax-free, then you can withdraw without any penalty - making it effectively just another retirement account.
https://ourtaxpartner.com/hsa-distribution-rules-after-age-65-medicare-premiums/