To secure your retirement, think about more than just growing the money in your retirement account. That’s the message of the recent Kiplinger
article, “5 Things You Can Do Right Now to Help Improve Your Retirement Outlook
Among the retirement protection tips mentioned in the article, author Chris Harlow suggests making a plan to protect your assets from unforeseen expenses.
For one example, the chances are much higher than in the past that you'll have some kind of long-term care need that is expensive and ongoing, especially considering we are all living longer. As a result, you'll want to be prepared for this very real risk.
One way to be prepared for this type of unexpected expense is to open a Health Savings Account (HSA). Money can be withdrawn from the account tax-free to pay for qualifying medical expenses.
Like IRAs, the HSA funds can be self-directed into alternative investments such as real estate, tax liens, private placements and more, and the profits grow in a tax advantaged environment. Contribution limits apply; see more details about the account here
To learn more about self-directed HSAs, set up a free consultation with a Senior Account Executive.