If youre feeling shaky about your retirement savings, youre not alone.
Weve rounded up a few tips to help get you there.
5 Ways to Boost Your Retirement Savings in 2025
There was a lot going on this year.
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Maybe you started a new job, picked up a side hustle or bought a home.
Or maybe you barely made ends meet amid record-high inflation.
Putting aside money for retirement may have been the last thing on your mind.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
Thats because contributions made to atraditional 401(k)before Dec. 31 help lower your yearly taxable income.
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Its not atax creditor deduction.
But lowering your taxable income can save you money at tax time or even boost your refund.
Dont Have a 401(k) at Work?
Open an IRA With a Robo-Advisor
Not everyone has access to a 401(k).
If thats your situation, you might still save for retirement on your own.
And we promise, its not as scary as it sounds.
Robo-advisorsare online companies that use computer algorithms and advanced software to build and manage your investment portfolio.
Thebest robo-advisors on the marketgive you access to tax-advantaged individual retirement accounts (IRAs).
Roth and traditional IRAs also come with sweet tax perks.
But how and when you get a tax break is different.
Who can afford to retire?
Thankfully, there are five different retirement accounts for small business owners, self-employed people and individual contractors.
It lets you serve as both an employer and an employee and make contributions in both capacities.
The contribution limit is very high: $69,000 in combined employee and employer contributions in 2025.
Another option is a SEP IRA.
Or you’ve got the option to use it just for yourself.
As always, dont contribute more than you might afford.
Remember this: The losses you see inside your retirement account arent actual lossesuntil you sell.
If you simply wait for the market to recover, your investments will go back up.
A single day or even a few months of volatility shouldnt change your long-term savings plan.
A down market is not a time to panic.
In fact, smart investors see it as a time to buy.
Youre investing on a regular schedule (each time you get paid).
It might be confusing and intimidating to open your first 401(k) or IRA.
But the only way to overcome those fears is to jump in and get started.
We have easy-to-follow strategies forhow to save for retirementwhether youre in your 20s or your 60s.
Boosting your retirement savings doesnt need to be dramatic or life-altering.
Even setting aside $10 or $20 more from each paycheck next year can make a huge difference.
The worst thing you might do is nothing.
Ditch the excuses in 2023 and start contributing what you’re able to reasonably afford to your retirement.
Youll thank yourself later.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
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