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Your email address will not be published.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 woman sits on her living room floor surrounded by shipping boxes, holding a receipt and reviewing a purchase for a potential return. 7 Store Return Policies Worth Knowing Before You Shop
  • A retired man in his late 60s working happily at a sunlit home office table with a laptop, notepad, and coffee. 10 Encore Careers Retirees Are Loving Right Now
  • An active retired man happily working in his sunlit home greenhouse, surrounded by plants and tools, with his planner nearby. The Social Security Earnings Test: Know This Rule Before Working in Retirement
  • An ink and watercolor illustration of a senior couple happily engaging in physical therapy exercises surrounded by warm botanical accents. The Medicare-Covered Therapies Retirees Often Don't Realize Are Included
  • An older couple sitting at their sunlit dining table casually reviewing financial documents together. How a Second Marriage Can Quietly Change Your Retirement Plan
  • An editorial illustration of a gold fountain pen signing a contract where the ink turns into a complex maze, trapping a tiny figure. The Annuity Pitch Retirees Should Always Question First
  • Risograph illustration of an hourglass with golden sand representing retirement funds, with a calendar pointing to age 73. Why Your Required Minimum Distribution Might Be Bigger Than You Think
  • An elegant watercolor illustration of a person finding a glowing retirement file folder in a cozy, sunlit attic room. 5 Retirement Accounts You're Probably Forgetting You Have
  • Editorial watercolor of a woman walking along an illuminated golden path marked with ages 60 to 63. The 401(k) Catch-Up Rule Turning 60-Somethings Can't Afford to Miss
  • An editorial illustration showing two potted sprouts on a kitchen table; one grows freely, while the other is trimmed by pruning shears. The Hold Harmless Rule: Why Some Retirees Got a Real Raise and Others Didn't

Newsletter

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

Related Articles

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 →
stimulus check

2023: Will You Get a Stimulus Check? Let’s Find Out!

However, federal stimulus money was not authorized by legislators this year for a major reason:…

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 →
change return

9 States That Made Big Changes to Their Tax Laws

#2 Iowa If you have some older relatives or you think you may be up…

Read More →

Are You a Homeowner? Here Are 5 Trump Tax Bill Changes That Could Affect You

2. SALT Deduction Cap Increases to $40,000 One of the most significant wins for homeowners—especially…

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 →
tax deductions, save

Top 9 Most Hassle-Free Deductions on Taxes

Reinvested dividends While this isn’t exactly a tax deduction, it is still a subtraction that…

Read More →
companies credit card

15 Companies That Will Take Care of Your Student Loans

Two smiling professionals review company benefits on a tablet while sitting in a bright, modern…

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

  • 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.