Listen On:
Key Takeaways:
- [06:17] For 2021, an individual meeting certain requirements can add up to $6,000 to either IRA type or combination of the two depending on their financial pictures. Most people aren’t aware that with an IRA once you reach age 50 in a given year or older, you can add an additional $1000 to that overall contribution limit.
- [08:38] The HSA gives you greater flexibility if you put the contributions into the account the contributions are tax-deferred. If you use it for qualified health expenses at any time after you make the contribution they are tax exempt.
- [10:01] If the employer doesn’t offer an HSA option, the individual member can go into the local credit union and establish the HSA. It gives the credit unions something else to cross-sell with the individual member and really strengthen that relationship.
Presented By
Steven Christenson
Executive Vice President | Ascensus
Steve is responsible for managing and developing Ascensus’ product lines and services, which include web-based technology, education and resource development, forms and documents, telephone and on-site consulting, and enrollment meeting support. Before joining Ascensus, Steve had nearly a decade of management experience in the financial services market.