The HSA Advantage: 5 Strategies for Retirement Success | The Limitless Retirement Podcast
Manage episode 420666827 series 3428945
"By strategically contributing to your HSA throughout your working years, you can build up a substantial balance to help mitigate this impact of the rising health care costs that you're likely to face in retirement."
Unlock the full potential of your Health Savings Account and take control of your financial future as our host Danny Gudorf of Gudorf Financial Group, guides us through the world of HSAs on this edition of the Limitless Retirement Podcast. Prepare to have your eyes opened to the power of these accounts, not just for medical expenses but as a pivotal part of your retirement planning. Danny details the triple tax advantage of HSAs—how your contributions can lower your taxable income, your investments can grow tax-free, and your withdrawals can be tax-free when used for qualified medical expenses.
He also reveals five savvy strategies to supercharge your HSA's impact on your retirement readiness, including one that might just leave you in awe. By the end of this discussion, you'll be equipped with the knowledge and strategies to make your HSA a cornerstone of your retirement plan. And if any aspects leave you scratching your head, Gudorf Financial Group has your back!
Key Topics:
- A Refresher on Health Savings Accounts (02:20)
- #1: Covering Your Medical Expenses (08:17)
- #2: Bridging the Gap to Medicare (10:40)
- #3: Paying for Medicare Premiums (14:30)
- #4: Addressing Long-Term Care Needs (16:49)
- #5: Enjoying Flexibility for Non-Medical Expenses (20:02)
- Wrap-Up and Takeaways (25:36)
Resources:
42 एपिसोडस