2025 Retirement Prep

The new year is an ideal time to reassess and optimize your retirement savings strategy. With increases in contribution limits and enhanced benefits, setting up and contributing to an IRA, HSA, and 401(k) can significantly bolster your financial security for the future. Let’s explore how you can make the most of these accounts, and don’t forget our exciting referral incentive program that rewards you and your family and friends!

Setting Up and Contributing to an IRA

If you don’t have an Individual Retirement Account (IRA) yet, contact us at 480-820-0901, or email kim@brockira.com and we can get you started.  An IRA is the cornerstone of a well-rounded retirement plan. For 2025, the maximum contribution limit is $7,000 for individuals under 50, and $8,000 for those 50 and older.

If you already have your IRA set up, making consistent monthly contributions is a smart strategy to reach your maximum contribution for the year. Automate your contributions to ensure regular deposits into your IRA, thereby enhancing your retirement nest egg over time.

Health Savings Account (HSA) Benefits

An HSA is not just a savings account but a powerful tool for retirement planning. It offers tax-free growth, tax-deductible contributions, and tax-free withdrawals for qualified medical expenses.

If you are enrolled in a high-deductible health plan, consider maximizing your 2025 HSA contributions, which are set at $4,300 for individuals and $8,550 for families. The individual contribution for those who are age 55 or older is $5,300.  If your employer does not offer an HSA option, anyone who is in a high-deductible health plan can set up their own individual or family HSA.

 Remember, funds roll over year to year and do NOT have to be spent down by the end of the year, making your HSA a strategic asset for healthcare costs in retirement.

Joining Your Employer’s 401(k) Plan

Participating in your employer’s 401(k) plan is indispensable for building a robust retirement fund. Many employers offer matching contributions, effectively giving you free money towards your retirement. The 2025 contribution limit stands at $23,500, with an additional $7,500 catch-up contribution for those over 50. Ensure you contribute enough to receive the full employer match and consider increasing your contributions annually to keep pace with inflation and salary increases.

If you have old 401(k) accounts with previous employers, contact us here at Brock Asset Management, and we will help you recover those funds and roll them into your personal IRA as a non-taxable event and with no penalties.

Our Referral Incentive Program

We believe that financial wellness is better when shared. Therefore, we are excited to offer our referral incentive program. Refer a friend or family member to us to set up a personal IRA or investment account.  When their account is opened and funded, both you and your referral will receive a $50 Amazon Gift Card. It’s a win-win situation that enhances your financial future and that of your loved ones.

Making the most of your IRA, HSA, and 401(k) accounts in 2025 is a wise move toward securing a comfortable retirement. We’re here to assist you every step of the way, from setting up your accounts to maximizing your contributions. Don’t miss out on our referral incentive program and start building a brighter financial future today!

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