1 Easy Move to Add $13,000 to Your HSA Balance in 10 Years
The average retired couple aged 65 in 2021 will need roughly $300,000 to cover their out-of-pocket healthcare expenses in retirement. That's a big, budget-blowing number. Worse, the estimate does not account for long-term care, which can cost thousands per month.
A health savings account (HSA) can help you prepare for those costs, but there's a catch: It's probably not enough to just save -- you must invest those savings, too.
Unfortunately, many HSA account holders aren't using the investment features of their account. A report from Devenir Research concludes the average HSA investor has stashed away nearly $18,000, which is great. But the same report also finds 71% of HSA assets are uninvested, and less than 6% of HSA accounts invest their holdings. That will prove to be a costly mistake.
Source Fool.com
