Objective information about financial planning, investments, and retirement plans

Comments

  1. HSA’s are a great way to get your annual taxable income down. It’s a situation where you KNOW you will spend this money at one point or another. So, why not take advantage of it? I know we’ve spent a small fortune on medical expenses related to our kids over the past several years. I only wish we would have maxed out our HSA from the get-go!

  2. What do you think would be the time to start a Healthcare Savings Account? I know the earlier the better, but there are so many investment opportunities that it’s difficult to determine what to choose to invest in. Thanks for this informative article.

    • Roger Wohlner says:

      Thanks for the comment. The earlier the better is true generally, but everyone’s situation is different. One feature of the HSA to keep in mind is that the money can be used to cover qualified medical expenses so if some of the money is needed for that purpose along the way the account holder still gets the tax benefits.

Trackbacks

  1. […] HSAs: The Other Retirement Plan from Roger Wohlner […]

  2. […] HSA accounts can be used to cover the cost of a host of qualified medical expenses and can be tapped to cover the cost of COBRA if you are unemployed. […]

  3. […] a health savings account (HSA). For those of you who are still working and/or not yet on Medicare, funding an HSA account is a great way to help cover the costs of health care in retirement. In order to contribute to an […]

  4. […] Wohlner from The Chicago Financial Planner and author of “Health Savings Accounts – The Other Retirement Plan” says you can contribute to an HSA with pre-tax money, similar to an IRA, and withdraw the […]

  5. […] with longer lifespans. It is critical you plan for this during your pre-retirement years. Using an HSA as a vehicle to save for medical costs in retirement can be a great tactic if you have access to […]

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