Discover the tips and strategies that will help you achieve your retirement goals.

I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

It all starts right here on Ready for Retirement. for retirement.

Hi, everyone, and welcome back to another episode of the Ready for Retirement podcast. I'm your host, James Cannell.

On today's episode, we are talking all about health savings accounts or HSAs.

And part of me wants to call them the best kept secret

in financial planning, but part of me doesn't. And the reason for that is they're not really

secrets, but I don't think people fully understand to the extent that HSAs can be an incredible

part of their retirement planning toolkit. So in today's episode, I'm calling this a complete

guide to health savings accounts because we are going to look at some well-known features of HSAs as well as some of those features that aren't maybe as well-known, but more importantly, how can you use this to improve your retirement plan?

Now, this whole episode, this is based upon a question from a listener. And as a side note, if you have a question and you're listening to this and you would love for me to answer on a future episode, please submit that. I'm not able to

get to every single episode, but I do read all the questions that come in. And based upon the

questions that come in, I prioritize the questions I'm going to respond to by what general types of

issues are people most focused on. So always appreciate when you submit questions

and today's episode is based on a question from John. John says this. He says, I'm currently

using my HSA as a retirement lever. My wife and I are making maximum contributions to our 401k

and Roth and HSA accounts. We are paying medical expenses out of our net income

and save receipts for a rainy day to pull the funds from the HSA account. Not sure if I've

heard you discuss HSAs yet. I'm hoping you see them as the gym that I do. Both my wife and I are

53 years old and working on fire, which side note for anyone that doesn't know stands for

financial independence retire early. And then he goes on to say, we have the following account years old in working on fire, which side note for anyone that doesn't know, stands for financial

independence retire early. And then he goes on to say, we have the following accounts,

...