Categories
Tax Efficiency, Retirement Plans

The Ultimate Retirement Account – Health Savings Accounts (HSA)

I’m sure most people who have made it to our website have a general understanding of the differences between a Traditional IRA and Roth IRA. With a Traditional IRA, you get a tax deduction in the year you make the contribution, then pay taxes when you withdraw the money. In a Roth IRA, you do not get a deduction now, but instead take qualified withdrawals tax-free. Both types of accounts allow for tax-deferred growth.