Have an HSA? Here's Why You Should Be Investing in It
A 2021 survey from Charles Schwab shows that only 49% of people with access to an HSA, or health savings account, are using it. That's unfortunate because the HSA could easily be the difference-maker in an effective retirement plan.
Here are three reasons why you should be contributing to your HSA and investing those contributions for long-term growth.
Predictions on healthcare expenses for retirees are scarier than any horror movie. Fidelity estimates that a 65-year-old woman who retires in 2021 will spend about $157,000 on out-of-pocket medical costs throughout retirement. A 65-year-old man retiring this year will spend an estimated $143,000 on healthcare. A different report from healthcare software company HealthView predicted that a 65-year-old couple retiring in 2019 would incur $387,644 in cumulative healthcare expenses during retirement.
Source Fool.com
