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Have you ever heard about the Health Savings Account (HSA) used in retirement planning?
Simply put, if a 401(k) and a Roth IRA were to produce an offspring, it would be the HSA — because of its unique tax advantages that gives you the best of both accounts!
In this insightful episode, Jim Kruzan, CFP®, CRPC®, makes a compelling case for Health Savings Accounts, especially when 401(k) plans have long been hailed as the go-to option for retirement. He explains how HSAs can help you achieve a bigger, bolder retirement due to their tax benefits, flexibility, and attractive contribution limits.
Jim discusses:
- The triple tax advantages of HSAs (contribution, growth, and withdrawal)
- What happens to your HSA if you change your employer
- How HSAs differ from Flexible Spending Accounts (FSAs) and 401(k) plans
- How HSAs can help reduce your total medical expenses in retirement
- The limitations of an HSA
- And more