The new year is a great time for people to examine their retirement savings strategy and make changes as needed. Appleby Retirement Consulting founder and CEO Denise Appleby joins Madison Mills on Wealth to discuss what investors can do to better set themselves up for retirement.
"This is a time to look back at what went right and what didn't go right," Appleby says, adding, "What you want to do for 2025 is continue to implement what worked and change what didn't."
Examining how you can maximize your retirement contributions heading into the new year can help set you up for success. Appleby notes, "I'm finding that a lot of individuals did not maximize their 401(k) contributions as much as they could have, and now they're having regrets. Come next year, you want to make sure you pace those contributions; even if you want to max out your contributions, you want to look at it sort of like a budget."
Watch the video above for more expert tips on retirement savings.
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This post was written by Naomi Buchanan.