An HSA can act as more than just a vehicle to pay medical expenses; it can also serve as a retirement account. For some taxpayers who have maxed out their retirement plan options, an HSA provides them with another resource for retirement savings – one that isn’t limited by income restrictions in the way that IRA contributions sometimes are.
If your traditional IRA is invested in stocks and/or mutual funds, the recent substantial downward slide by the stock markets may provide a unique opportunity to convert your traditional IRA to a Roth IRA at a low cost, and then benefit when the markets recover.
Given how quickly prices have increased, many people wonder if it will be enough to offset the higher prices we currently face...This is where having a meaningful conversation with your financial advisor can be helpful.
Used properly, an HSA is a great way to build tax-free wealth via deductible contributions, investing for growth over time, and taking tax-free distributions and reimbursements later.
One of the best ways to ensure you can support an expected standard of living in retirement? Save early, save more, and monitor your progress.
Negative performance of fixed income is frustrating, but not unprecedented. Short-term negative returns occur more frequently than you may realize. However, through a longer-term perspective, down periods don’t seem as daunting.