U.S. Household Wealth Growth Strategy
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wealthMoneywise
•Here are the 4 accounts you need to build and sustain wealth in America
76% Informative
The average U.S. household had a net worth of $ 1,063,700 in 2022 , according to the Federal Reserve’s latest Survey of Consumer Finances.
With the right strategy, many households can grow wealth over time with the right combination of accounts.
With that in mind, here are four accounts you should set yourself up with — and how to use each one to get the most out of your money.
To qualify for an HSA , your health insurance plan must meet certain requirements that change yearly .
HSA contributions don’t count toward taxable income up to an annual limit set by the IRS each year .
Unused funds can be invested, so the money in the account grows.
Investment gains are tax-free, withdrawals used for qualifying medical expenses.
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