August Newsletter

What could you gain by being more intentional with your finances right now? For many adults in their 50’s, Income may be at or near its highest point, with earnings often peaking between age 45 and 64 [1]. This period can be an important time to evaluate your financial plan and consider adjustments. Here are a few considerations. 1. Revisit Retirement Contributions If you’re age 50 or older, you may be eligible for additional “catch-up” contributions to retirement accounts. In 2025, the IRS allows up to $7,500 in extra contributions to a 401(k), on top of the $23,000 standard limit [2]. Depending on your circumstances, this may provide an opportunity to increase retirement savings. 2. Review Your Financial Strategy Your goals, risk tolerance, and time horizon may have changed over time. It can be helpful to review your retirement accounts and overall financial strategy to determine whether your current allocation continues to align with your objectives. 3. Plan for Healthcare Costs Medical expenses can become one of the largest line items in retirement. Strategic steps now, such as exploring long-term care coverage or contributing to a Health Savings Account (HSA), if eligible, may help you prepare for those future costs with more confidence. These are just a few of the many financial considerations worth exploring in your 50’s and beyond. Your financial picture is unique, and we’re here to help you make sense of the options that align with your priorities. Interested in a Second Opinion? If you’re considering a second opinion on your retirement plan, we offer a complimentary phone call where we will outline our process and pair you with an advisor who can review your situation and discuss available options. Schedule yours today! [1] Source: U.S. Census Bureau, Median Household Income by Age of Householder. [2] IRS contribution limits, 2025