"One of the more underrated retirement strategies is the Health Savings Account, offering tax-advantaged savings for medical expenses."
"Health Savings Accounts allow tax-free contributions and withdrawals for qualified healthcare costs, benefitting those who plan carefully."
"A Redditor in r/ChubbyFIRE highlights Health Savings Accounts, showcasing personal strategies and contemplating their future investment."
"While there are limitations on contributions, HSAs can serve as a valuable tool for saving towards healthcare in retirement."
Health Savings Accounts (HSAs) are often overlooked retirement strategies offering tax-advantaged savings for medical expenses. They allow contributions to be tax-free, and withdrawals for qualified healthcare expenses are also tax-free. While many embrace HSAs, some people remain skeptical due to contribution limits. The accounts can be established through employers or banks and credit unions. Individuals can contribute up to $4,300 annually, and families up to $8,550, with additional contributions allowed for those over 55. Their value lies in strategic planning for healthcare expenses in retirement.
#health-savings-account #retirement-strategy #tax-advantaged-account #healthcare-costs #financial-planning
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