![]() But if you use money for non-medical expenses, you do pay taxes on it- like you would with a traditional IRA. And once you turn 65, your HSA acts like a traditional IRA-which means you can take out money for anything you’d like, not just medical expenses. To make contributions to one, you have to be enrolled in a high-deductible health plan. Take advantage of your HSA. With an HSA, you can save-and even invest-money to pay for deductibles and other medical expenses tax-free.And like we mentioned before, your real estate investing funds should be separate from your retirement savings-that’s why we don’t include real estate as part of the investment calculator. Don’t put yourself at financial risk by financing a rental property. But the most important one is this: We want you to pay cash for your real estate investments- no exceptions. Buying a rental property can be a great way to earn passive income, but there are some very important guidelines we recommend you follow-like staying local and having an emergency fund set aside just for your rentals. ![]() You can put as much money as you want into a taxable investment account (or brokerage account) and take money out whenever you want, but you’ll have to pay taxes on any money your account earns. Max out your 401(k) and tax-favored investment options. When you have extra money to invest, the first step is to max out your 401(k) and/or Roth IRA.That’s great! Next, you can think about putting your retirement savings into high gear and consider other investing options. If you’re still not saving 15% of your income with those options, then go back to your traditional 401(k) and invest the rest there if you can. ![]() Then, if you qualify to contribute to a Roth IRA, max that out.
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