Updated

Updated · CNBC · Sep 22

Planner Kelley Long Recommends 3 Accounts as Child-Free Savers Weigh 2026 HSA and IRA Limits

Updated

Updated · CNBC · Sep 22

Planner Kelley Long Recommends 3 Accounts as Child-Free Savers Weigh 2026 HSA and IRA Limits

Q: If you never have children, who will legally manage your money and healthcare when you no longer can?

If you never have children, the person who will legally manage your money and healthcare is whoever you formally appoint in advance — not automatically a friend, sibling, or other relative. For finances, that usually means a durable financial power of attorney, which names an agent to pay bills, handle accounts, manage property, and act if you become incapacitated. For healthcare, it is typically a medical power of attorney or healthcare proxy, often paired with a living will or advance directive that states your treatment wishes. These are separate roles; naming someone for finances does not automatically give them authority over medical decisions. If you do not sign these documents ahead of time, state law may control who can make some medical decisions, and for financial matters someone may have to go to court to be appointed guardian or conservator. Experts say that process can be slow, costly, and public. That is why planners such as Kelley Long, writing about child-free and solo-aging adults, stress building not only savings but also a legal support structure. That can include a will or trust, successor trustees, backup agents, HIPAA releases, clear records, and in some cases a professional fiduciary or care manager if no trusted personal contact is available. The practical answer for child-free adults is to choose trusted decision-makers now, name backups, document your wishes clearly, and review those choices regularly as relationships and circumstances change.

2 articles · Updated · CNBC · Sep 22

Three account types — an HSA, a Roth IRA and a taxable brokerage account — can give people unsure about having children more flexibility than locking money into child-focused or workplace-only plans, Kelley Long says.
2026 contribution limits underpin that strategy: HSAs allow up to $4,400 for self-only coverage or $8,750 for family coverage, while Roth IRAs allow $7,500, or $8,600 for those 50 or older.
HSAs rank high because unused balances roll over, can be invested and can be withdrawn tax-free for qualified medical costs, creating a backstop for healthcare, long-term care planning and even earlier retirement.
Roth IRAs and taxable brokerage accounts add access to money if life plans change, since Roth contributions can be withdrawn without penalty and brokerage assets are not age-locked like most 401(k) savings.
Long’s broader point is that people without children — or unsure whether they will have them — may need to prioritize adaptable savings over inheritance or college planning, especially for aging and care needs.