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Kerry Lutz's--Financial Survival Network

May 21, 2019

We're all getting older and we need to plan for the day when Medicare kicks in, at 65 years old. Danielle has an effective, tax-advantaged strategy for financing your eventual retirement and Medicare benefits. It all starts with an HSA (Health Savings Account) and a high-deductible medical insurance policy. If you're under 55 you can put away $3500 per annum and deduct it from your taxable income. Over 55 and the number goes up to $4500. Best of all there are no minimum distribution amounts and you can pass any balances on to your heirs. If you're in your 50's or even younger this can be a great way to minimize taxes and you'll be able to pay your deductible and out of pocket expenses in pre-tax dollars, a great savings.