Health care costs in retirement can end up larger than the savings target itself

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The average retired couple needs roughly 165000 dollars set aside for medical costs A health savings account is the only triple-tax-free money left for medical bills after sixty-five Changing jobs mid-year can leave you running two 401(k) accounts and paying two sets of recordkeeping fees A traditional IRA deduction phases out once you have a workplace plan and cross the income threshold The IRA limit is per person so a spouse with no earned income needs a spousal IRA to contribute at all Backdoor Roth contributions are legal but the pro-rata rule taxes the conversion if you still hold a traditional IRA Plan fees are two separate numbers: recordkeeping charges taken from the account and the expense ratios inside each fund A 401(k) loan is repaid with after-tax dollars into an account that will be taxed again on withdrawal A SIMPLE IRA has a lower contribution ceiling and requires either a match or a nonelective employer contribution The 60-day rollover window is the only chance to move money between accounts with no tax and no penalty