If You’re Retired, or Not: 5 Changes That Will Affect Your Money in 2025

Published On Jan 18, 2025, 5:01 AM

This article discusses recent changes that will benefit retirees and those nearing retirement in 2025, particularly pertaining to retirement savings, prescription drug costs, and financial management. Key highlights include a new provision allowing individuals aged 60 to 63 to increase their 401(k) catch-up contributions to $11,250, significantly higher than previous limits. This change aims to help older workers save more as they approach retirement, taking advantage of their peak earning potential.