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2025 Financial Resolutions: Prioritize saving for retirement (Page 84)

By JB Beckett, Beckett Financial Group

2025 is here. As we come out of the holidays, you may find yourself reflecting on the year you’ve had and setting goals for the new year ahead. You may decide you want to eat healthier, get outside more, or become more present in your daily life. But, where do you stand when it comes to your finances? Over the next few weeks, I’m sharing a few financial resolutions you can incorporate into your routine to improve your financial situation.

Being able to afford retirement is a real concern for many of my clients. If you’re in your 20s, 30s, and even 40s, it may seem like retirement is light years away, but the earlier you start saving the better off you’ll be. In the new year, make it a priority to save for retirement. Take a look at your employer’s benefits package and figure out if they offer a retirement savings plan. If they do, make sure you’re enrolled and start contributing. If they offer a match, be sure to max out those contributions. At the start of a new year, many employers conduct annual reviews. If you’re offered a raise, be sure to adjust your contributions accordingly.

In addition to your employer-sponsored account, you can also open an IRA. If you’re feeling limited on funds and are worried about contributing to multiple accounts, start by depositing small amounts and increase them over time as your situation allows. The important thing is to stay consistent.

If you are nearing retirement, it might be a good idea to look at guaranteed forms of income you can rely on once you stop working. One option is to purchase an annuity. An annuity is an insurance contract between you and an insurance company where the company pays you on request, as periodic income, or as a death benefit. You can purchase the security through a single, lump sum payment or a series of payments. There are various types of annuities so be sure you purchase a contract that suits your financial needs and aligns with your financial goals. If you’re interested in making this kind of investment, be sure to consult with a financial advisor who can help you find one that works best for you.

Your golden years should be rewarding. After decades of hard work, retirement allows you to reclaim your time and spend it how you want. The last thing you want is to spend it worrying about your finances and potentially returning to work to stay afloat. Prioritize your retirement planning in 2025, your future self with thank you.

“Index or fixed annuities are not designed for short term investments and may be subject to caps, restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer. Please refer to our firm brochure, the ADV 2A Item 4, for additional information.”

2025 Financial Resolutions: Prioritize saving for retirement

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By JB Beckett, Beckett Financial Group 2025 is here. As we come out of the holidays, you may find yourself reflecting on the year you’ve hadContinue Reading

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By Robin All A longer backswing gives you more time to generate clubhead speed, adding distance to your shots. Short backswings work best for shorter,Continue Reading

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