Double Up With an HSA
After trying to top up your traditional IRA, 401(k) and Roth IRA, it may sound impossible to then also focus on a health savings account. These allow you to set aside money on a pretax basis, money which will later be used to pay for qualifying health expenses. The best part about this is that the money can be carried into retirement. During that later part of your life, you can pay for qualifying health expenses tax-free.
Overall, the beauty of this sort of account is that you can avoid taxes when you contribute and later on when you withdraw- something that no other account lets you do!
So while you may think you’ve already got several accounts to worry about, it’s worth considering a HSA too.
