No. of Recommendations: 3
I hope to mainly use it mainly as tax deduction & another tax-free growth investing vehicle and not touch the compounding value for many years until we truly need to tap it for major medical expenses. Please feel free to share any pearls of wisdom that you more experienced folks feel may be beneficial this early retiree and first time HSA user. Many Thanks!
I think you hit the main pearl of wisdom: Save your receipts and let it compound tax free. The HSA is the ultimate early retirement vehicle. Tax free contributions. Tax free compounding. Tax free withdrawals. I use a Google Sheet to track and Google drive to store receipts should anyone ask.
The only other thing I can think of to add is that a huge number of everyday products and services are HSA eligible. OTC medications of course, but also things like sunscreen, contact solution, bathroom scales, transportation to and from medical visits...the list is pretty long.
