Fiscally Fit: Dot Kelly Gives Reunion Talk on Financial Well-Being

June 25, 2019

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Dorothy Kelly

During 2019 Reunion Weekends, McIntire Professor Dot Kelly presented “Hoo$ Smart about Money: Reduce Your Taxes, Enhance Your Financial Well-Being, and $ave Thousand$,” a talk and Q&A session offering strategies to help visiting alumni make better financial choices.

As part of UVA’s Lifetime Learning Program, Kelly provided information to empower people to reach their financial goals, absorb unexpected costs, and make choices that free them to enjoy their lives. The Robert B. Hardaway, Jr. Lecturer of Personal Finance started by taking a quick survey of her audience and discussing the necessary components for financial well-being.

Kelly continued with the topic of health insurance, focusing on the many benefits of opting for a health savings account—commonly called an HSA—a tax-advantaged vehicle that she calls “an underutilized wealth enhancement tool.”

Turning to retirement savings, she explained the value of HSA contributions versus those made to traditional IRAs and Roth IRAs, detailing how contributions can serve as emergency funds without the usual tax concerns that prohibit flexibility and often crucial withdrawals. Kelly also provided personal examples of implementing an HSA to cover her own medical needs, all through the convenience of an app.

Listen to a podcast of the entire session.

Read more about the event at UVA’s alumni page.