The calendar is about to turn to June – and that means nearing the halfway point of 2025. For those contributing to 401k, 403b and TSP accounts, adjustments or tweaks at this time can make a real difference overall for the current tax year and future savings overall.
The most basic considerations are in the dollar amount and tax classification of how 401k/403b/TSP contributions are made.
It may be a key time – before mid-year – to check in on goals made back in January. These goals could have focused on saving more or differently, spending reduction or realignment and areas of investment focus and diversification.
How is your progress on certain goals? Can tweaks be made? Can specific ones be scrapped and new goals or ideas formed?
One particular goal from January was something I nicknamed FSP:
“Focus on Saving in order to maintain Patience” – in the event of the inevitable market decline, or volatility similar to that of 2025.
The words of Pope Francis often had very down-to-earth meaning. Here are excerpts from an encouraging reflection, merely two months ago, on “old age” from the late Pontiff*:
“Yes, we must not be afraid of old age, we must not fear embracing becoming old, because life is life, and sugarcoating reality means betraying the truth of things. …Restoring pride to a term [“old age”] too often considered unhealthy is a gesture for which we should be grateful…
