Saving money in 2025 feels a little different. Prices are higher, markets are unpredictable, and the idea of a comfortable retirement in Springfield can feel more like a moving target than a milestone. But here’s the good news: there are smart, actionable ways to boost your savings this year—and not all of them involve major sacrifices. Whether you’re a few years from retirement or already in it, these five strategies can help you build momentum and protect your financial future.
- Automate Your Savings
Automation works, but mindless automation? Not so much. Make sure your monthly contributions to retirement and investment accounts reflect your 2025 goals, not last-decade habits.
- Review and adjust your contributions regularly.
- Take advantage of 401(k) catch-up contributions if you’re 50 or older.
- Schedule automatic increases annually, especially after raises or bonuses.
- Reevaluate Your Emergency Fund
The old three-month rule probably doesn’t cut it anymore. Today, many Springfield financial experts recommend 6 months or more, especially for retirees or those on fixed incomes. If your emergency fund is still sitting in a low-interest savings account, consider transferring it to a high-yield savings account or money market fund to earn a little more while keeping access flexible.
- Rethink Your Tax Strategy
Taxes are one of the most overlooked areas for savings, especially in retirement. And Springfield retirees may not realize how local and federal tax laws affect their plans.
- Consider Roth conversions in lower-income years.
- Use Qualified Charitable Distributions (QCDs) to reduce taxable income.
- Work with an advisor to structure withdrawals that keep you in a lower tax bracket.
- Review Your Investment Allocation
The right portfolio in 2020 might not be the right one in 2025. Life changes, markets shift, and your financial strategy should evolve, too.
- Rebalance your investments to reflect your current risk tolerance.
- Diversify across sectors and asset classes to protect against volatility.
- Consider working with a Springfield-based advisor who understands local economic trends and national investment opportunities.
- Get Personalized Financial Advice
Here’s the truth: no article can give you the perfect savings strategy. Your goals, income, family situation, and future plans are all unique. The best way to boost your savings is to get a custom plan tailored just for you. At LaTour Asset Management of Springfield, we help you:
- Identifying hidden opportunities for growth while eliminating unnecessary losses.
- Build a plan that fits your lifestyle—not someone else’s.
Save Smarter in 2025—Let’s Build Your Strategy
Boosting your savings in 2025 doesn’t mean overhauling your entire life. It means taking smarter steps and working with experts who have your best interest at heart. If you live in Springfield or the surrounding area and want to take control of your savings, reach out to the team at LaTour Asset Management today at (877) 888-5724. We’ll help you make this year one of your strongest yet.
