Welcome to Simply Money Channel! In this enlightening video, we’re diving deep into the world of retirement planning, demystifying key concepts like 401(k)s, IRAs, and the often-overlooked power of HSAs. Whether you’re just starting your retirement journey or looking to optimize your existing plan, this video is your comprehensive guide to securing a comfortable retirement.
Join us as we break down the intricacies of retirement accounts. Discover the benefits and nuances of 401(k)s and IRAs, exploring how these vehicles can play a pivotal role in building your financial future. We’ll help you understand contribution limits, tax advantages, and investment options that align with your retirement goals.
But that’s not all. We’re also shining a spotlight on Health Savings Accounts (HSAs), a hidden gem in retirement planning. Learn how HSAs offer a unique triple tax advantage, allowing you to save for medical expenses both now and in retirement. We’ll explore strategies to maximize the potential of your HSA, turning it into a powerful tool for building wealth while safeguarding your health.
Whether you’re a seasoned investor or new to the world of retirement planning, this video offers actionable insights that can help you make informed decisions. Don’t miss out on the opportunity to empower yourself with knowledge that can reshape your retirement strategy.
Join us in demystifying retirement planning and unlocking the potential of 401(k)s, IRAs, and HSAs. Subscribe now to Simply Money Channel and stay tuned for more expert guidance on achieving financial freedom.
00:00 Introduction
00:31 Cookie Jar and Cookie Example
01:09 401(k) Overview
02:43 401(k) Contribution Limits
03:28 Required Minimum Distribution (RMD)
04:20 Individual Retirement Arrangement (IRA)
04:40 Traditional IRA
06:15 Roth IRA
07:16 Income Limitations
08:04 Health Savings Account (HSA)
09:39 HSA Contribution Limits
11:05 My Suggestion
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