01-06-25 ARI News AM

Larisa Asanache
January 06, 2025

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Are you maximizing your retirement income? A growing trend among retirees is leveraging health savings accounts (HSAs) and Roth IRAs for long-term financial security. HSAs offer triple tax advantages when used for qualified medical expenses, while Roth IRAs provide tax-free withdrawals—perfect for managing unpredictable expenses in retirement. Experts recommend combining these strategies to reduce tax burdens and make your savings last longer.

The key is planning. By understanding how these accounts complement each other, you can avoid overspending on taxes and preserve your wealth. For retirees nearing or just entering retirement, this combination can make a significant difference in financial stability.

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Fun Fact of The Day

The average American spends about 20 years in retirement.