Monsters under the bed aren’t the only thing keeping older adults awake at night. So are fears about retirement, and for good reason. Retirement isn’t cheap; it can easily last more than twenty years and one unexpected illness or bad financial move could derail your plans altogether. Throw the prospect of inflation creeping back up in 2025, concerns Social Security will run out of money and the skyrocketing costs of health care into the mix and it’s understandable Americans nearing or in retirement are losing sleep.
401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000
WASHINGTON — The Internal Revenue Service announced today that the