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Your email address will not be published.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

  • A retired couple reviews tax documents and a tablet together at a sunlit kitchen table in a candid, domestic scene. 6 Tax Breaks Retirees Almost Always Forget to Claim
  • A senior man looks concerned while checking his smartphone at a kitchen table in the early morning light. How to Spot a Financial Scam Targeting Seniors Before It's Too Late
  • A conceptual mixed-media collage showing a 2026 dollar bill being stretched between two drafting tools, symbolizing financial planning. 7 Ways to Stretch Your Retirement Dollar Further in 2026
  • A senior couple at a sunlit kitchen table reviewing Medicare documents and a laptop in a realistic, home setting. The Biggest Medicare Mistakes Seniors Make (and How to Avoid Them)
  • A person in their late 50s thoughtfully reviews Social Security paperwork at a sunlit kitchen table with a laptop and coffee. Social Security Mistakes That Could Cost You Thousands in Retirement
  • IRS refund IRS Pandemic Refund Window Extended: See If You Qualify!
  • disabilities Are You Eligible to Receive Disability SSA Benefits? (2026 Guide)
  • How the Iran War Could Impact Social Security and Senior Budgets
  • 10 Most Valuable American Dimes (And What Makes Them Worth So Much)
  • check Social Security SSI $994 Payment for May 2026: Deposit Date, Eligibility, and Who Qualifies

Newsletter

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

Related Articles

tax breaks for homeowners

7 Tax Breaks for Homeowners and Home Buyers

Owning a home is a key part of the American Dream. Whether you fancy a…

Read More →
tax documents

7 Important Tax Documents to Never Throw Away

Hands carefully sorting through an accordion file folder to ensure important tax documents are organized…

Read More →
check

Social Security SSI $994 Payment for May 2026: Deposit Date, Eligibility, and Who Qualifies

How Much Will You Receive? For May 2026, the maximum federal SSI payment remains unchanged…

Read More →
A graph showing the comparison between a standard deduction amount and itemized deductions for a retired couple, illustrating which option results in lower taxable income.

10 Overlooked Tax Deductions for Retirees

1. The Higher Standard Deduction for Seniors This is one of the most straightforward and…

Read More →
Kamala Harris taxes

Will Kamala Harris Raise My Taxes?’ Let’s Find Out!

Vice President Kamala Harris revealed some of her ambitious proposals as part of a future…

Read More →
taxes

10 Unbelievable Things Your Taxes Are Paying For

2. Turning Computers Into Couch Potatoes Your tax dollars made something odder than necessary possible.…

Read More →
new 2024 tax plan

Biden Proposed a New 2024 Tax Plan (and You Should See It Now)

Net investment income tax (NIIT) The NIIT on income over $400,000 would include all flow-through…

Read More →
A confident woman working on her taxes at a bright, organized home office desk.

IRS Alert: 6 Mistakes That Could Inflate Your Tax Bill

Tax season 2026 is here with new laws and higher deductions. Avoid these 6 costly…

Read More →
ridiculous taxes

9 Most Ridiculous Things You’ll Get Taxed for

2. Jock tax Next on our list of ridiculous taxes is one directed at people…

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.