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A comment on Americans Are Pulling Cash from Their Retirement Savings to Pay Bills. Parent comment

Re:Americans Are Pulling Cash from Their Retirement Savings ... by dataflow on Wednesday November 29, 2023 @01:10AM (#38456122)
Isn't HSA annual contribution limit something like $4k? That's not really going to be life changing when you're old, retired, and in need of medical care, is it?
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Re:Americans Are Pulling Cash from Their Retirement Savings ... by wenc on Wednesday November 29, 2023 @02:10AM (#38456461)
When you factor in compounding and triple tax advantages (contribution/growth/withdrawals are tax exempt), it can be quite a lot of money over 20-30 years. HSAs can be invested as well say in a target fund or index which should net 5-10% per year. Like a 401k, contributions also lower your taxable income so they save you from taxes today.

Try it yourself:

https://www.hsabank.com/hsabank/Learning-Center/HSA-Savings-...

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Re:Americans Are Pulling Cash from Their Retirement Savings ... by xboxnolifes on Wednesday November 29, 2023 @01:53AM (#38456377)
$4k * 30-40 years of tax free, both in and out, investable income is a lot of savings for healthcare. The contribution limit also increases nearly every year.
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