Time is Flying in 2025: Have You Caught Up With Your Financial Goals?

Retirement Roadmap

We examine essential mid-year financial steps that could help you finish the year strong and brighten your financial future. Time flies by quickly, making it crucial to check in on your financial goals periodically rather than putting them off indefinitely.
• Consider saving for retirement early, even if in small amounts, to harness the power of compound interest
• Check your workplace retirement plans - many now offer automatic enrollment at 3%, but experts recommend aiming for 10-15% contribution rates
• Consider taking advantage of catch-up contributions at age 50 ($7,500 extra in 401k) and the new higher limits between ages 60-63 ($11,250 extra)
• Are you planning for a potentially 30+ year retirement, as people are living longer but retiring earlier?
• Consider Roth accounts for tax-free growth - even opening one with minimal contributions starts the important 5-year clock
• Have you developed a tax strategy for retirement as most retirement savings are in tax-deferred accounts requiring future taxation?
• Are you prepared for healthcare costs averaging $165,000 per person during retirement?
• Have you ensured your estate planning documents are current and properly prepared?
• Is it time to rebalance your investment portfolios to match your risk tolerance and time horizon?
Schedule a complimentary consultation at masterplanretire.com or call 770-980-9262 to get comprehensive retirement planning reports that show if you're on track.

Have a topic or question you'd like Mark and Evan to address in a future episode? Email us at [email protected] or call 770-980-9262.
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Advisory services offered through MasterPlan Retirement Consultants, Inc., a Registered Investment Advisor in the state of Georgia. Insurance, tax and commodities services offered through Fricks and Associates, Inc. dba MasterPlan Retirement Consultants. The aforementioned are affiliated companies.
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Chapters

1. Time is Flying in 2025: Have You Caught Up With Your Financial Goals? (00:00:00)

2. Mid-Year Financial Check-In (00:00:05)

3. Starting Early: The Power of Compound Interest (00:04:45)

4. Catch-Up Contributions and Retirement Savings (00:08:50)

5. Planning for a Long Retirement (00:13:35)

6. Tax Strategy and Roth Advantages (00:17:15)

7. Healthcare Costs and Estate Planning (00:21:25)