TRANSCRIPT:
Back in the late 1790s, President John Adams faced a very real problem. American soldiers were returning home injured and broken, with no way to cover their medical bills. He did something innovative. He signed a law taxing merchant mariners 20 cents a month to fund America’s first marine hospitals. You could say it was one of the earliest versions of a health savings plan. Fast forward to today, and we have something much more sophisticated: the Health Savings Account, or HSA. And frankly, it’s one of the most powerful and often overlooked tools in retirement planning. Hi, I’m Ken Hargreaves, president of WealthGen Advisors.
Many people aren’t fully aware of how valuable an HSA can be. It’s the only account that gives you a triple tax advantage. Your contributions go in tax-free, the investments grow tax-free, and if you use the money for qualified medical expenses, your withdrawals come out tax-free. No other account in America does that. And it adds up. Take a healthy individual who maxes
Take out their HSA every year and invest the balance. Over 20 years, the tax-free growth can be significant, even outperforming traditional retirement accounts like 401ks, Roth IRAs, when used strategically for healthcare needs. Of course, HSAs aren’t for everyone. You have to be enrolled in a high-deductible health plan to qualify, and you need to be comfortable taking on a bit more upfront risk. But for many people, especially high earners, super savers, or those looking ahead at rising healthcare costs, an HSA can become a secret weapon in building long-term financial security. At WealthGen Advisors, we help clients explore how tools like HSAs fit into their bigger retirement plan. Because in the end, real wealth isn’t just about growing your money, it’s about protecting it and using it to enjoy life with peace of mind.
