As President Donald Trump kicks off a second term, many older investors are focused on how shifting policy could affect their wallets.
But some key changes for near-retirees were already enacted for 2025. These updates could have a big impact on your finances — and may easily be missed, financial experts say.
Nearly half of Americans ages 55 to 64 don’t feel prepared to retire by their target date, according to a survey from the American Savings Education Council, which polled more than 2,000 U.S. adults in early 2024.
But planning around these 2025 changes could boost retirement security, experts say. Here’s what older workers need to know.
Leverage the 401(k) ‘super catch-up’
For 2025, investors can save more with higher 401(k) plan limits. Employees can defer $23,500 into 401(k) plans, up from $23,000 in 2024. The catch-up contribution limit is $7,500 for workers ages 50 and older.
But thanks to Secure 2.0,…
