Health savings account may not immediately jump out at you as an effective tool in the path to financial independence. I know it didn’t for me at first. If you are currently on a high deductible health care plan you probably have access to a health savings account. The problem is that your HR representative is probably underselling the usefulness of that account.
In my experience, most people on the high deductible health care plan were on the younger end of the spectrum and more likely in a healthy state. Probably why they were willing to risk the high deductible plan in the first place. I know that is why I had that plan in my early 20s. The irony is that the power of this account is often lost on us that young because we understandably aren’t maxing our retirement savings yet.Continue reading