Additionally, many employers who sponsor 401(k)s offer free matching dollars. And if you are aware of this arrangement, it makes sense to take advantage of it. As such, you should not invest any money in your HSA until you have obtained your complete 401(k) match.
Now, IRAs don’t offer equivalent incentives like 401(k)s. But you should still make an effort to fund an IRA as well as an HSA, because ultimately IRAs are more flexible.
Manage your accounts wisely
Although having money in an HSA can be very useful during retirement, and HSAs offer a host of tax breaks, you shouldn’t set aside your IRA or 401(k) savings efforts. ) in favor of focusing solely on funding an HSA. But you shouldn’t neglect your HSA either. These plans can work well together to provide the financial security you need in retirement – especially since health care could end up being your only biggest expense when you are older.
The $16,728 Social Security premium that most retirees completely overlook
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help boost your retirement income. For example: a simple trick could earn you up to $16,728 more…every year! Once you learn how to maximize your Social Security benefits, we believe you can retire confidently with the peace of mind we all seek. Just click here to find out how to learn more about these strategies.
