RussRevengeTour23-24
RussRevengeTour23-24 t1_jef9awb wrote
Reply to HSA investment question by Puzzlehead--92
In the same boat myself rn. I took half and put it into an index fund last year. Up like 4% on that I think. I’ll probably leave that as is and then take some more of my cash balance and put it into a CD. HSAs are great!
RussRevengeTour23-24 t1_je2nkss wrote
Reply to [Beginner] In my location, my bank (PNC) has a savings account interest rate of 0.03%. Capital One is 3.4%. American Express is 3.75%. Is there any reason not to switch to one of those? by Flopcandy
Online banks and local credit unions offering that as well and up to 5% on CDs. I say switch!
RussRevengeTour23-24 t1_jeffbko wrote
Reply to comment by Puzzlehead--92 in HSA investment question by Puzzlehead--92
Not positive on that, but I don’t think there are any taxes. You always hear of the “triple tax advantages” of the HSA. It’s the best thing going.
Edit: confirmed that there shouldn’t be any taxes on growth.
https://www.morganstanley.com/articles/health-savings-account-retirement-tax-advantages#:~:text=HSAs%20are%20savings%20vehicles%20that,enjoy%20tax%2Dfree%20growth%20potential.