A Health Savings Account (HSA) is a tax-advantaged savings account designed for individuals with high-deductible health plans (HDHPs) to save and pay for qualified medical expenses. Contributions to an HSA are tax-deductible, the funds grow tax-free, and withdrawals used for eligible healthcare costs are also tax-free, making it a triple tax benefit. Unused funds roll over year to year and can be invested, allowing the account to grow over time. After age 65, HSA funds can be withdrawn for any purpose without penalty, though non-medical withdrawals are taxed as regular income. HSAs offer flexibility, long-term savings potential, and a valuable tool for managing healthcare costs

An Individual Retirement Account (IRA) is a tax-advantaged savings account that helps individuals save for retirement. There are two main types: Traditional and Roth. Contributions to a Traditional IRA may be tax-deductible, and earnings grow tax-deferred until withdrawal in retirement. In contrast, Roth IRA contributions are made with after-tax dollars, but qualified withdrawals in retirement are tax-free. IRAs have annual contribution limits and can be a powerful tool for building long-term retirement savings

Fidelity is a well-known financial services company that offers a wide range of investment products and services, including retirement accounts (like IRAs and 401(k)s), brokerage accounts, mutual funds, ETFs, wealth management, and financial planning. Officially called Fidelity Investments, it was founded in 1946 and is one of the largest asset managers in the world. Fidelity is popular for its user-friendly platforms, low-cost investment options, and strong customer service. Individuals often use Fidelity to manage their personal investments, save for retirement, or get access to tools and advice for financial planning.

An index fund is a type of mutual fund or exchange-traded fund (ETF) designed to track the performance of a specific market index, such as the S&P 500 or the Dow Jones Industrial Average. Instead of actively selecting individual stocks, index funds aim to replicate the holdings and performance of the entire index they follow. This approach allows investors to gain broad market exposure at a relatively low cost, since index funds don’t require active management. They are often considered a passive investment strategy, providing diversification, reducing individual stock risk, and typically having lower fees compared to actively managed funds. Index funds are a popular choice for long-term investors seeking consistent returns and lower risk.

The Murtazza Method of saving $5,000 is a creative and structured savings plan where you start by saving $100 and then reduce the amount saved by $1 each time, counting down until you reach $1. Here's how it works:

On Day 1, you save $100

On Day 2, you save $99

On Day 3, you save $98

...

Continue decreasing by $1 daily

On Day 100, you save $1

This creates a countdown-style saving approach, and if you add all those amounts together (from $100 to $1), the total saved equals:

100×(100+1)2=100×1012=5050\frac{100 \times (100 + 1)}{2} = \frac{100 \times 101}{2} = 50502100×(100+1)​=2100×101​=5050

So, by the end of 100 days, you’ll have saved $5,050. It's a psychologically motivating method because the daily saving amount gets easier over time.

A 401(k) is a retirement savings plan offered by many U.S. employers that allows employees to save and invest a portion of their paycheck before taxes are taken out. The money grows tax-deferred, meaning you don’t pay taxes on it until you withdraw it in retirement. Many employers also offer a matching contribution, which is essentially free money added to your savings. There’s also a Roth 401(k) option, where contributions are made after taxes, but withdrawals in retirement are tax-free. 401(k) plans have annual contribution limits set by the IRS and are a powerful tool for building retirement savings over time.