Brian’s Budgets

Are you having trouble sleeping? In this episode, I discuss the differences between 401(k), 403(b), Traditional IRA, ROTH IRA and 457 Deferred Compensation Accounts.

Not to be confused with a Flexible Savings Account (FSA), a Health Savings Account (HSA) is a powerful tool in the finance universe. Often available with select plans from your employer, an HSA is an account used to deduct funds pre-tax from your paycheck. The funds are earmarked for future medical expenses once saved, but in the interim, they can be invested and will grow tax-free. When the funds are used for an eligible medical bill in the future, no taxes are owed either. That’s right: An HSA is triple-tax-advantaged and the only account that is.