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Taxes. They’re the bane of all investors.

Apart from high fees, taxes are a surefire way to shrink your overall nest egg. So, deferring as much of your taxable liability is essential for growing your portfolio. Traditionally, that meant shoving as much money as you could into IRAs and 401(k) accounts. The deferred nature of these accounts allows for plenty of extra compounding power.

The only drawback to IRAs, 401(k)s and similar-styled accounts is that they come with deposit limits. For some higher earning investors, it’s very possible to max out the amount you can defer. And that’s a real bummer for investors.

However, all hope is not lost when it comes to keeping Uncle Sam away from your hard-earned dollars. A relatively new type of account originally meant for paying for healthcare and insurance is being adopted in spades as a retirement planning tool. A tool that comes with plenty of tax deferral benefits. If you haven’t considered an HAS, the time could be now.

Check out our dedicated page on dividend-paying healthcare stocks

A Trio of Benefits

Health savings accounts (HSAs) are tax-advantaged savings accounts designed to help people with high-deductible health plans (HDHPs) pay for out-of-pocket medical expenses. But increasingly, people are using HSAs as a retirement planning tool. The beauty is in the details of the account type.

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