Happy New Year! The end of the year is all about reflection and the beginning of the year is all about looking forward. With that spirit in mind, today is a good day to think about looking ahead and what that means in finance.
With the year swiftly coming to a close it’s time for taxpayers to think about those year-end financial housekeeping items. While there are many topics to consider such as year-end tax deadlines, portfolio allocation, and the cost of the holidays, what we’re thinking about today is Health Savings Accounts or “HSAs.” Today we’ll review HSA contribution limits and deadlines, the value of HSAs as a tax planning and retirement planning tool, and investing your HSA balance.
Last Thursday was the largest single day gain (+5.54%) for the S&P 500 Index since 2020. The Nasdaq Composite (+7.35%) and Dow Jones Industrial Average (+3.69%) had similarly high-flying performance. So, what happened on Thursday, what should we take away from it, and what does that mean going forward?
“Let me be clear on one point: I can’t predict the short-term movements of the stock market. I haven’t the faintest idea as to whether stocks will be higher or lower a month or a year from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So, if you wait for the robins, spring will be over.” – Warren Buffett in the Fall of 2008
It’s common knowledge that Roth assets are a powerful savings tool that provide tax-free income in retirement. But a lot of people don’t understand the difference between Roth IRAs and Roth 401k and 403b plans. If you have a large Roth 401k or Roth 403b balance and you don’t have a Roth IRA yet, you’ll want to listen to the rest of this video.
