Opinions

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Retirement saver’s credit and how it works

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Dear Savvy Senior, Can you explain to me how the retirement saver’s tax credit works? My wife and I are in our fifties and are looking for creative ways to boost our retirement savings beyond our 401(k). Is this something we may be eligible for? Struggling to Save Dear Struggling, If your income is low to moderate and you participate in your employer- sponsored retirement plan or an IRA, the Retirement Savings Contribution Credit (aka “Saver’s Credit”) is a frequently overlooked tool that can help boost your retirement savings even more.
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Health savings account can boost retirement savings

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Dear Savvy Senior, I’m interested in contributing to a health savings account to help boost my retirement savings but would like to better understand how they work. What can you tell me? Almost 60 Dear Almost, A health savings account, or HSA, is a fantastic financial tool that can help you build up a tax-free stash of money for medical expenses now and after you retire.

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