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First for Women
|May 05, 2025
7 ways to boost your retirement savings
Worried about your financial future? You're not alone—59% of working women feel behind on retirement savings, according to a Bankrate survey. Here, a finance pro shares ways to grow your nest egg fast.
1. SUPERSIZE YOUR 401(K)
If possible, contribute the full $23,500 annually, an increase of $500 from 2024, says Regina McCann Hess, CFP, CDFA, author of How to Become Your Own Financial Hero. If you're 50 or older, take advantage of catch-up contributions, an additional $7,500 annually (if you're between 60 and 63, it increases to $11,250). This is a much-needed boost for those who may have started saving later.
2. LEARN FINANCE FOR FREE
This story is from the May 05, 2025 edition of First for Women.
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