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You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building

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Let's go to Brandon in Minneapolis. Minnesota, Brandon, how can we help today?

So I just enrolled in an HSA this year and I'm wondering if it makes sense. I had a couple

hospital visits pop up this year and I'm anticipating the same thing next year.

Okay.

So even with the compounding interest, if I'm spending thousands of dollars each year, does it make sense to still hold on to the HSA?

Well, it depends.

I mean, when you do know that you're going to have qualified medical expenses, it could make sense to pay for them through the HSA. And in that way, you're not taxed on that money. So that could make sense for you. So you're thinking about it more through the lens of your actual health purchases. you're not thinking about it as an investment

vehicle, which a lot of our callers do, correct?

Well, no, I am looking at it as an investment vehicle. I'd like to have it, you know,

in retirement. Oh, okay. Well, in that case, an HSA is a great idea. If you know that you don't go to the doctor much, if you're willing to have that higher deductible because maybe you know that you're not going to meet it, that could be great for you.

And then, of course, if you're thinking about it as a retirement vehicle, that's great, but it would not be my first choice.

It would be what I would do maybe tertiary to a 401k or a Roth IRA, and then I'd go in

and do an HSA.

Have you already maxed out those other options?

I have not.

Okay.

So, yeah, for that.

I've been paying for everything out of pocket so far.

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