Natalie is just starting her workplace journey and can take advantage of the many years ahead of her. Time is her friend. She should start contributing as close to 15% of her salary as possible to her employer-sponsored retirement plan (e.g. 401(k), 403(b) or 457(b)).

Natalie’s employer offers a High Deductible Health Plan and she wants to save more, but also wants access to it if needed. She is opening a Health Savings Account (HSA). An HSA can complement her other retirement account and allows her to diversify her retirement savings and potentially have more options for tax-efficient withdrawals during retirement.

Logan has been contributing 12-15% of his income to his employer's retirement plan for many years and has maxed out his ability to save. Logan is also contributing the maximum limit to his HSA annually. He Is looking for additional ways to save for retirement. He is considering his employers alternative retirement offerings like a 457(b) or individual options like an Individual Retirement Account(IRA). Logan is looking at a Roth Individual Retirement Account (IRA) because contributions to a Roth IRA can be withdrawn at any time without taxes or penalties after 5 years regardless of age, because they are made with after-tax dollars. Logan may even use funds from his Roth IRA to help pay secondary education expenses for his child without having to have the account in the child’s name.

Ralph is gearing up for retirement. He has substantial assets in his employer’s retirement account and in his HSA. While he’s in good health, he knows that Medicare may not cover all his needs. Especially after he loses his employer-sponsored healthcare.

He’s considering how best to distribute his assets to ensure a lifetime of retirement income and supplemental insurance like Medicare options, long-term care coverage and other coverages to protect him through retirement. He knows looking into all his options is a wise decision.