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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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Financial Faux Pas: 5 Blind Spots You Never Knew Existed

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Planning for your financial future can feel like a bad joke.

One moment, you think you’ve got everything sorted. The next, you’re staring at a will you don’t understand or a tax form that looks like a puzzle missing half the pieces.

We’ve all been there—stumbling over financial blind spots we didn’t even realize we had.

Let’s break down five common blind spots and how to tackle them.

1. Credit Scores: Your Financial Report Card

Your credit score impacts everything from loan approvals to mortgage rates. A strong score opens doors; a weak one closes them.

Check your report regularly, fix mistakes, and pay your bills on time. Good credit is one of the few financial factors you can control.

2. Wills: Planning for the Unexpected

Nobody likes thinking about it, but having a will is crucial. It ensures your assets go where you want them to, avoiding disputes.

Without a will, the state decides for you. Sorting it out now saves your family stress later.

3. Emergency Savings: Your Financial Safety Net

Life is unpredictable, and an emergency fund keeps you covered. Aim for three to six months of living expenses.

Start small and add to it regularly. It’s not about perfection—it’s about progress.

4. Tax Withholding: Balancing the Scales

Get your W-4 right to avoid surprises at tax time. Too little withheld means you’ll owe; too much means you’re giving the government an interest-free loan.

Check your withholding annually to keep things balanced.

5. Retirement Savings: Starting Early Pays Off

Retirement may feel distant, but starting now makes a big difference. Contribute to your 401(k)—especially if your employer matches.

Even small amounts grow over time, thanks to compound interest. The earlier you start, the easier the journey.

Addressing these blind spots sets you up for success.

As Warren Buffett says, “Do not save what is left after spending, but spend what is left after saving.” Start today, and you’ll build a stronger financial future, one step at a time.






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