Maxing out a 401(k) is crucial for a secure financial future, especially with increased contribution limits in 2025. For individuals over 60, an additional contribution option enhances their savings potential. Beyond 401(k) contributions, funding an HSA can offer significant tax advantages. With HSAs, contributions are tax-free, as are investment gains and qualified withdrawals. It is essential for savers to leverage all available financial tools, including HSAs and taxable accounts, to fully utilize their financial capabilities and prepare for both retirement and unexpected expenses.
"Maxing out a 401(k) could set you up for a very rich retirement... But what if you’re in the habit of maxing out your 401(k), yet you still have money left over to work with?"
"...HSAs give you three distinct tax benefits. HSA contributions are tax-free, investment gains are tax-free, and withdrawals are tax-free as long as that money is used to cover qualifying medical expenses."
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