ByteOnBikes@slrpnk.net to Mildly Infuriating@lemmy.worldEnglish · 6 months agoThere is a fee to close my HSA accountslrpnk.netimagemessage-square60fedilinkarrow-up1217arrow-down15
arrow-up1212arrow-down1imageThere is a fee to close my HSA accountslrpnk.netByteOnBikes@slrpnk.net to Mildly Infuriating@lemmy.worldEnglish · 6 months agomessage-square60fedilink
minus-squareAA5B@lemmy.worldlinkfedilinkEnglisharrow-up3·6 months 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-up3·6 months agoAfter 65 they don’t audit what you withdraw for.
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.