Retirement Savings: 6 Ways an HSA Could Be More Beneficial Than a 401(k) or IRA

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However, theres yet another key in of account to consider: the health savings account (HSA).

In this day and age of high insurance costs, thats not hard to achieve.

In comparison, Crocco said, conventional IRAs only permit tax-deferred growth.

[W]hich means that you will eventually have to pay taxes on the withdrawals.

This creates aself-funded healthcare cushion, unlike anything a 401(k) or IRA offers.

This makes HSAs function as backup retirement accounts.

HSAs offer investment options similar to IRAs, allowing for long-term growth potential, Shahnazari explained.

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