Have you ever been to a psychic? 🔮 Calling the Miss Cleo hotline doesn’t count. Although, if you’ve ever talked to Sylvia Browne on the Montel Show, we need your story ASAP. 🤯 And if you’re old enough to know what we’re talking about, you might need some eye cream. 👁️
Saving for retirement is all about playing the long game. Join us as we stare deep into our crystal ball to see what the rest of 2025 has in store! 👇
Here’s Five Fast Facts on what the rest of the year holds for retirement savers:
- 🚀 Full Send - We came out the 2025 gate faster and more furious than Vin Diesel. At the end of Q1, many 401(k) and IRA balances were down, thanks to the market’s undiagnosed bipolar. Although it bounced back in Q2, people are still very much worried about a rising cost of living, inflation, and how that impacts retirement savings.
- 📈 High Times - Interest rates are still somewhat high as well. The Fed is playing a game of wait-and-see before making any big moves, mainly watching what impacts the Trump tariffs have on the economy. Bad news for people with debt, but elevated interest rates are a good thing for people who want to make their money work for them.
- 🎢 Coasting Through - Should we expect more financial roller coaster rides for the rest of 2025? Experts say, “yes.” We’re still learning how to deal with the changes that took place in the first half and more changes could be on the way. Trump gave an early July deadline for a whole bunch of trade deals. If the outcome is higher tariffs, the markets could get wild and cray-cray.
- 💰 Rate Ready - Experts also say the Fed will likely keep interest rates where they are until the fall, if not for the entire rest of the year. If you have cash sitting on the sidelines, boost your retirement savings by parking it in a high-yield savings account. You could also take advantage of higher than usual rates on Certificates of Deposit (CDs).
- 🛣️ On the Journey - Remember, saving for retirement is a marathon, not a sprint. Weathering the economy’s ebbs and flows is all part of the process. Know the risks of your investments, brush up on where to put your money so it gives you the best returns, and steer clear of anything super-risky.
🔥Bottom line: The world might be going off the rails like a crazy train, but that’s no excuse to put off financial planning. In an uncertain economy, many Americans are becoming more reactive when managing their household budgets. To get all the details, bop over to this article.
What's your savings plan?
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