Roth IRA vs. Health Savings Account (HSA): Which Is Better?

If you only had $5,000, would you put it in a Roth IRA or a Health Savings Account (HSA) account?

Watch The Great Debate between tax attorneys and bestselling authors, Mat Sorensen & Mark J. Kohler on how to best grow your money tax-free.

Some key comparisons:

ANNUAL CONTRIBUTIONS

HSA gives you a tax deduction. You can contribute Single $3,650 and Family $7,300.Roth IRA has no tax deduction. You can contribute $6,000 per person + $1,000 if 50 or older.Roth IRA for Kids with income.

GROWTH

Both the HSA and Roth IRA grows tax-free.

DISTRIBUTION

Health Savings Account has no tax on distribution BUT ONLY FOR QUALIFYING MEDICAL.You can distribute contribution and growth at any age.Roth IRA has no tax on distribution BUT ONLY AT 59.5 OF AGE.Can distribute for anything.Contributions can be distributed at any age.

Which account is better?

It depends on the person, their goals, health and finances.

Schedule a Free 15-minute new account phone appointment with one of our experienced Senior Account Executives regarding what type of account is best for you. https://directedira.com/appointment

This is Directed IRA Podcast: EP68.

Learn how to take control of your retirement - https://directedira.com/

Self-directed IRA Podcast - https://matsorensen.com/podcast/

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Blog & Articles - https://matsorensen.com/blog/

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Being a Tax Advisor is a lucrative opportunity...Learn more about Marks Main Street Tax Pros here:

https://markjkohler.com/the-main-street-tax-pro-certification/

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https://matsorensen.com/ask-mat

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