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HSA: How to Beat Taxes Like the Rich

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The rich have a different focus. They're not worried about saving for retirement—they’re worried about passing their wealth to heirs without paying too much in taxes.  Taxes are their biggest enemy. And they've figured out how to avoid them. For the rest of us, we don’t have millions to protect. But there’s a powerful tool we can use to save on taxes. It’s called the Health Savings Account (HSA).  Here’s how it works. True Story  I recently went to the eye doctor. Here’s what I spent: Extra test: $39 Ray-Ban frames: $375 Total cost: $414 that I paid with my HSA card. Because the money in my HSA is pre-tax, I didn’t need to earn as much to cover the cost. Pre-Tax vs. Post-Tax Spending Let’s say you're in a 24% federal tax bracket, and you also pay 5% state tax. Your total tax rate would be 29%. Without an HSA (Post-Tax): To pay $39 for the eye test, you’d need $54.93 before taxes.  To pay $375 for the frames, you’d need $528.17 before taxes.  For the total ...
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Turn Back the Clock on Your Finances...As If You Were 20 Again

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What if you could combine the wisdom of your older self with the energy of your younger days?

Let’s get to the point: understanding your finances means knowing exactly what you make, what you spend, what you owe, and what you own.

Think of yourself as the CEO of your money. Every dollar is your responsibility. Here’s what to focus on:

  • Income: What comes in.
  • Expenses: What goes out.
  • Debts: What you owe.
  • Assets: What you own.

Sarah, a friend of mine, used to feel lost about her money. When she finally sat down and tracked her spending, she realized she had more control than she thought. By paying off debt and saving bit by bit, she hit her goals faster than expected.

Here’s how you can do it too:

  1. Track Your Money
    Use a spreadsheet or app to see what’s coming in and going out. It’s simple but powerful.

  2. Tackle Your Debts
    List them and make a plan to pay them off—start with the highest interest or the smallest balance, whatever keeps you motivated.

  3. Check Your Assets
    What do you own that’s valuable? Savings, a pay off car, investments, property—it all counts.

Understanding your finances is the first step to taking control. Start small. Start now.

Shake off the fear, and own your financial journey.





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