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Your email address will not be published.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

  • Watercolor illustration of an older woman on a garden bench handing a lemon to an outstretched arm over a stone wall. 10 Money Mistakes Grandparents Make When Helping Family
  • A smiling woman wearing a museum staff docent badge gestures toward a glass display case inside a sunlit botanical conservatory. 9 Jobs for Retirees That Pay Better Than Minimum Wage
  • Watercolor illustration of an older couple walking in an autumn park past a kiosk poster reading 2026 Tax Relief. What the 2026 Senior Tax Deduction Means for You
  • Infographic showing four retail quarters with seasonal goods like bedding, patio furniture, winter gear, and a television. 9 Store Sale Cycles Every Shopper Should Know
  • Illustration of a hand cutting paper ribbons labeled with household fixed expenses using scissors before a new year timeline. 11 Ways to Trim Fixed Expenses Before the New Year
  • Man crouching in a pharmacy aisle selecting skincare lotion near a red basket filled with bandages and medicine. 7 Products Worth Buying at Drugstores
  • Wooden stage with a podium, seated audience, and an easel sign reading OASI TRUST FUND 2032 78 percent amid fall foliage. Social Security Promises Candidates Are Making This Fall
  • A man standing by an open car trunk filled with shopping bags in a Walmart parking lot, checking a receipt and phone. 6 Ways Walmart Shoppers Are Getting Tricked This Holiday Season
  • Older man wearing an apron and gloves trims potted lavender plants with pruning shears in a sunlit plant nursery. 8 Things to Know About Social Security and Part-Time Work
  • Senior woman holding a head of cabbage beside a grocery cart filled with produce in a supermarket produce aisle. 12 Cities With the Cheapest Groceries for Retirees

Newsletter

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

Related Articles

experts, reduce, change, taxes, home, income

Want to Reduce Your Taxes? Here Are 7 (Necessary) Tips 

2. Don’t forget about your retirement account Experts say that another easy way to lower…

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 →
experts stealth

Can’t Pay Your Taxes? Experts Shared 3 Solutions for You

A person writes in a notebook, outlining a strategic plan to manage tax debt and…

Read More →
tax burdens stealth return

7 States With Largest Tax Burdens for Middle-Class Families

A concerned couple reviews financial spreadsheets in their kitchen, reflecting the growing tax pressures facing…

Read More →
Editorial illustration of a gold gavel striking tax forms on a navy background.

Trump’s $10B IRS Lawsuit Could Upend the 2026 Tax Filing Season

President Trump's $10 billion lawsuit against the IRS adds to a chaotic 2026 tax season.…

Read More →

Did You Know About These 5 Veteran Tax Breaks?

A smiling veteran couple reviews exclusive tax breaks on a tablet while relaxing on their…

Read More →
A retired couple reviews their tax documents and budget at a sunlit wooden kitchen table in a warm, candid photographic scene.

7 Signs Your Tax Withholding Needs Adjusting in Retirement

Learn 7 key signs your retirement tax withholding needs adjusting. Avoid IRS penalties and optimize…

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 →
social security, Social Security task

Who Will Receive Social Security Payments on June 10, 17, and 24?

2026 COLA Increase: What It Means for Beneficiaries One of the biggest changes for Social…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Contact
  • Editorial Policy
  • Advertiser Disclosure
  • FAQ
  • Subscribe
  • Unsubscribe
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • Do not sell my personal information
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.