Financial Advisor David Giertz Talks About HSAs and Long-Term Care Insurance Policies

Dublin, Ohio’s David Giertz is a financial professional who has helped many people save and plan for retirement over the past thirty years. He says that retirement requires a lot of planning which is why people reach out to financial advisors like him in order to receive professional help. One thing that he as talked about is whether people should choose an HSA or long-term care insurance when planning for how to pay for their healthcare.

David Giertz says that everyone should be saving unless the hit the lottery. He says that most people should be saving somewhere between 10% to 15% of their income each and every year. This money should be invested in a diverse way with a mix of stocks and bonds depending on a persons risk tolerance. He said that during his time as an executive at Nationwide Financial Distributors he saw that many clients of this company just weren’t saving enough to have the future they were hoping for.

As everyone knows, healthcare costs in America are extremely high. David Giertz says that many people are paying $10,000 a year or more just for their health insurance policy. Long-term care insurance can be a part of a person’s financial plan. This will help them if they end up needing living assistance. If a person suspects this will happen to them than he says they need to go out and buy a long-term care insurance policy right away.

HSAs (health savings accounts) are another great way to save not only for medical care but for anything past age 65. The max people can put into these accounts is $3400 for single people and $6750 for families. As David Giertz points out one of the great things about an HSA is that the person owns it. They can change jobs and take their HSAs with them.

The money in an HSA can be invested, allowing it to grow over time. Each HSA offers different funds. Some have great low-cost options but unfortunately some do not. Either way the money should grow over time, just not as much in a higher fee fund.

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