Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

6 New Ways Retirees Can Save on Taxes This Season

January 20, 2023 · Taxes
healthcare. save
Photo by create jobs 51 from Shutterstock

#2 Boost up that HSA account!

This one is easier to do if you are already on an HDHP (a high-deductible health plan) and you are still employed; otherwise, it may be a bit more difficult. But either way, you can still look into accessing an HSA (a health savings account), which is going to help you save money when you have to pay out of pocket for medical expenses.

Not only is this one of those things that are going to help you in the long run when it comes to having to pay for things that are not covered by your insurance or by Medicaid, but it can also be a way to save some money on your taxes.

HSA accounts made through payroll are going to grow not only with pre-tax money, but they are also growing tax-free, and if you have to make any withdrawals, those aren’t going to be taxed either! So you will not be losing money but saving in the long run, and it is a great way to do things even if you are only a few years away from retirement.

Pages: 1 2 3 4 5 6 7

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • tax deduction Bigger Refunds Ahead? What the New SALT Cap Means
  • Trump's Signature Is About to Appear on U.S. Dollar Bills — Here's What That Means
  • Drowning in $10,000+ of Credit Card Debt? Here’s the "No-Shame" Way Out in 2026
  • Social Security Alert: Up to $5,181 Hitting Accounts This Week
  • A senior couple reviews their household budget on a laptop in a bright, modern kitchen. Social Security's 2027 COLA Could Be the Smallest in Years
  • A person showing a digital discount coupon on their phone to a pharmacist at a bright, modern pharmacy counter. TrumpRx Is Here - But Will It Actually Lower Your Drug Costs?
  • A happy couple shopping with a full cart at a warehouse club in 2026. Top 10 Sam's Club Deals You Can't Ignore in 2026
  • A couple shopping for high-end deals at a modern warehouse store. 12 Costco Deals Shoppers Are Jumping on for 2026
  • A high-end desk setup with a Social Security card and a gold pen, representing presidential financial benefits. Is Trump on Social Security? A Look at Presidential Benefits
  • A person thoughtfully choosing a card from their wallet at a checkout counter. 5 Places to Avoid Using Your Debit Card and 3 Safe Spots

Newsletter

Get money-saving tips and personal finance advice delivered to your inbox.

Related Articles

tax breaks for retirees

Over 65? Check Out These 5 Tax Breaks!

If you want to save some money, you need to know that there are many…

Read More →
tax

7 Random Things You Will Get Taxed For

2. Cancelled Debt Don’t get too thrilled if your credit card issuer tells you that…

Read More →
avoid some taxes

Yes, You Can Avoid Some Taxes With These 6 Solutions!

Benjamin Franklin once said: “nothing is certain but death and taxes.” If you don’t file…

Read More →
stealth

7 Stealth Taxes that Can Destroy Your Retirement

Social Security Taxation of the Social Security benefits started in 1984, and it is by…

Read More →
climate

You Can Save $10K NOW With These Climate Tax Breaks

Inflation Reduction Act of 2022 These new tax credits and rebates are not just because…

Read More →
IRS refund

Tax Refund Alert: Americans May See a $1,000 Increase in 2026

Why Tax Refunds May Be Bigger in 2026 One key reason refunds may be larger…

Read More →
Tax credits, reduce, veteran, climate return

8 Legal Ways in Which You Can Reduce Your Taxes

A hand inserts a coin into a slot, surrounded by icons for housing, healthcare, and…

Read More →
Holiday Scam

10 Holiday Tax Scams That Turn Your Ho-Ho-Ho Into Oh-No!

Phishing and Smishing Scams During the holidays, phishing emails and smishing text messages increase sharply.…

Read More →
Stimulus Check

These 18 States Are Sending Out Stimulus Checks Now!

2. Alaska – $3,200 Payments The majority of Alaskans get a check every year through…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Subscribe
  • Unsubscribe
  • Newsletter
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.