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Aaaah, the humble Health Savings Account (HSA). Most of us have one and know the basics of how to use it, but few harness the HSA to its full potential.
We’ve got you covered. We asked our good friend, Kelley Long, CPA/PFS and an expert on HSAs, to bring us up to speed. She shared three of the most important things to know about this underleveraged financial tool.
A wonderful omelet made on top of your own stove: it’s the simplest (and tastiest) fast food there is. Omelets are a great way to clean out your leftovers. And if you’re new to cooking, they’re the perfect introduction to creativity in the kitchen. Omelets are a blank canvas just waiting for you to test out what you like and what you don't like.
The US economy balances in an uncertain position entering the second quarter. In certain respects, the economy is on solid footing; the consumer is in good shape. The labor markets are tight with the unemployment rate, at 3.6%, close to historic lows. Jobs are plentiful and wages are rising. While households have burned through the COVID-stimulus cash, their savings rate continues to be elevated, currently at 6.3%, which adds a level of cushioning should the economy turn south. On the Corporate front, profits recovered quickly and are now well above pre-pandemic levels. Business investment is continuing to accelerate and, with a growing trend to bring business operations back to the US, implies US economic growth should continue.
Let’s start with an all-too-common scenario:
Kelly is READY. They’ve eagerly awaited the day when they can turn in their notice to the boss and close the work chapter of their life. They can’t wait to kick up their feet, poolside, sipping a margarita before heading out to their weekly mah jongg game. (Side note to our younger readers: Why is mah jongg reserved for Baby Boomers? Get with the program Gen X and Millennials, that game is the business.)
