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In addition to using an HSA for medical expenses, it can also be used as another way to save for retirement. Once you reach age 65, money held in an HSA can be withdrawn and used for any reason ...
"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...
Figuring out what sort of investment accounts to save in for retirement can be a little puzzling. Most financial experts will recommend tax-advantaged accounts like 401(k)s and traditional IRAs ...
You can use HSA funds now and in retirement. You, an employer, a relative or others can contribute to your HSA. There are no time constraints for spending the funds. If you have money left in your ...
An HSA can be a good idea if you like the idea of a high deductible health plan – it offers tax-free healthcare savings and potential employer contributions, and your funds roll over, so you don ...
Once you’re in retirement, you can use HSA funds to pay for your medical expenses, which means you don’t have to draw from your actual retirement accounts for those expenses, he explained.
These 5 magic money moves will boost you up America's net worth ladder in 2024 — and you can complete each step within minutes. Here's how HSA contributions reduce your taxable income, and your ...