These Myths Could Wreck Your Retirement — but They Don’t Have To | Smart Change: Personal Finance | #retirement | #elderly | #seniors
To avoid having healthcare eat up an uncomfortably large chunk of your senior income, sock money away in a health savings account (HSA) if you’re eligible. To qualify to contribute to an HSA, you must be enrolled in a high-deductible insurance plan, but if you are, the funds you contribute can be invested for added growth and carried forward indefinitely. That way, you’ll have a dedicated source of money to pay for healthcare expenses once you’re no longer earning a paycheck.
Of course, in addition to saving in an HSA, it also pays to choose your Medicare coverage carefully. The more time you take to research your plan choices, the more likely you’ll be to keep your costs reasonable.
In the course of preparing for your senior years, it’s easy to come across bad information. Now that these myths are on your radar, you can take steps to avoid having them wreck the retirement you’ve worked so hard for.
The $16,728 Social Security bonus most retirees completely overlook
If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,728 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Simply click here to discover how to learn more about these strategies.