My Account
Sign up, and you'll be able to customize your font size and more!
Sign up
Report problem with this ad
Start a related thread
Start a related poll
Reply via Boardmail
Feb 13, 2020
9:15
:20
am
Jeff Spicoli
All-American
Meaning I can begin withdrawing the funds to be used however I wish but I'll
have to pay income tax on the funds I withdraw, similar to my 401(k) or Traditional IRA, correct?
Start a related thread
Start a related poll
Reply via Boardmail
Report problem with this ad
Jeff Spicoli
Bio page
Jeff Spicoli
Joined
Feb 13, 2004
Last login
May 1, 2024
Total posts
35,529 (198 FO)
Report problem with this ad
Messages
Author
Time
For those of you recommending funding an HSA first then other retirement accts
Jeff Spicoli
2/13/20 9:09am
At age 65 HSA funds are eligible to work exactly like IRA funds.
RdF3
2/13/20 9:11am
Meaning I can begin withdrawing the funds to be used however I wish but I'll
Jeff Spicoli
2/13/20 9:15am
Yes
JuicyJam
2/13/20 9:16am
<< Deleted >>
slowhiteguy
2/13/20 9:16am
But in retirement you probably aren't making any W-2 salary and MFJ I believe you can withdraw upwards of $80k
TheLoneCougar
2/13/20 9:29am
It's not that simple with the taxes. Most of your social security will count
KSwiss
2/13/20 3:18pm
if you plan on retiring at the time of SS then that makes sense.
TheLoneCougar
2/14/20 8:57pm
Cash out dividends? Hmmm...
KSwiss
2/15/20 12:04am
yes, they do. If you reinvest dividends, then you would sell them to "cash them out" like you would any other investment
TheLoneCougar
2/18/20 7:14am
I was told that if I didn't sign up for medicare and
BYU71
2/13/20 9:22am
If you don't enroll in Medicare, you can continue contributing to an HSA past age 65.
RdF3
2/13/20 9:30am
However, I recommend at least enrolling in part A at age 65 due to the penalty for not doing so. There's also some
RdF3
2/13/20 9:36am
Thanks, yes it does seem complicated.
BYU71
2/13/20 9:44am
It effectively turns into a traditional IRA if you don’t have medical expenses
Solid-State Blue
2/13/20 9:11am
Once on Medicare you can use an HSA to pay med expenses,
Florwood
2/13/20 9:33am
Report problem with this ad
Posting on CougarBoard
In order to post, you will need to either
sign up
or
log in
.
Report problem with this ad