This episode discusses an area of your personal finance journey that has been overlooked. We are joined by Danielle Kunkle-Roberts to discuss the Health Savings Account and the benefits of opening one at any point in your financial journey.
Danielle is co-owner of Boomer Benefits, a licensed insurance agency that helps Baby Boomers navigate their entry into Medicare.
Health Savings Accounts or HSA’s are a great savings tool to put aside the necessary money for Medicare and what it’s going to cost you in your retirement.
An HSA is an account that you can open when you have a qualifying high deductible health insurance plan that you can deposit money into tax-free that grows over time with interest that you can use to pay for qualified medical expenses.
What You Will Learn
- The benefits of opening an HSA early in life
- Danielle’s HSA advice for younger people that are not yet at the boomer age
- Positive impacts of an HSA on your taxes
- Where to open the HSA
- Qualifying spending for the HSA account
- Contribution limits
- Organization tips that help you stay ahead of an audit
- How to navigate choosing investments, do’s and don’ts
- Why you should take the HSA seriously
Resources Mentioned
- Boomer Benefits – https://boomerbenefits.com
- Power Couples University – https://www.hisandhermoney.com/pcu/
- Danielle Kunkle-Roberts – https://daniellekroberts.com
Thanks For Listening!
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