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In a YouTube video, personal finance expert Tae Kim of Financial Tortoise likened a health savings account (HSA) to the ultimate retirement account. You can access this triple-tax-advantaged ...
Health savings accounts (HSAs) are one of the least-known retirement tools available but they can make a big difference in preparing for what can be the biggest concern in retirement – covering ...
A health savings account (HSA) is a tax-advantaged account designed to help you save for future medical costs. If you have access to this type of account, it's a good idea to make the most of the ...
Funds in a health savings account can be invested in a manner similar to investments in an Individual Retirement Account (IRA). Investment earnings are sheltered from taxation until the money is withdrawn and can be sheltered even then, as discussed in the section below. Investments in a health savings account can be directed by the individual.
This allows the HSA to function similarly to traditional retirement plans like 401(k)s and IRAs and can give your portfolio an extra boost toward achieving your retirement goals.
By contributing to your HSA throughout your working years, you can accumulate funds that can be used tax-free for qualified medical expenses in retirement, including Medicare premiums, long-term ...
"The HSA was created when high-deductible (insurance) plans came about," explains Joseph Conroy, author of "Decades & Decisions: Financial Planning at Any Age," and a financial advisor with ...
Health savings accounts aren't nearly as popular as their more well-known counterparts like IRAs and 401(k) plans. Although their stated purposes are different -- an HSA is supposed to help you pay...