Why Roth IRAs and HSAs Are Game-Changers
00:00:00.000 | I think about tax-advantaged accounts.
00:00:02.080 | I'm thinking mostly about IRAs, 401Ks, 403Bs,
00:00:06.260 | but my favorite is probably the Roth IRA and the HSA.
00:00:09.520 | And that's because they offer a ton of flexibility,
00:00:11.760 | really low fees, because you can house them
00:00:14.980 | usually at a brokerage account of your choosing,
00:00:16.680 | and some of the best investment options.
00:00:18.500 | And on the HSA side, you've got the triple tax deduction
00:00:21.540 | of being able to put money in tax-free,
00:00:23.580 | being able to take it out tax-free,
00:00:25.260 | and being able to have it grow tax-free.
00:00:27.520 | So it's an amazing account.
00:00:28.700 | And on the Roth IRA side,
00:00:30.060 | I know many people don't think that they might be eligible
00:00:32.420 | because of their income or their workplace retirement plans.
00:00:35.460 | I'd encourage you to go look
00:00:36.920 | into a backdoor Roth IRA contribution.
00:00:39.140 | It's kind of a workaround that the IRS
00:00:40.900 | has finally signed off on, if you will,
00:00:43.340 | and it's something I do every year.
00:00:44.680 | And so take a look at that as a way
00:00:46.320 | to be able to contribute to a Roth IRA,
00:00:48.280 | even if you're not directly eligible.