Alex Langan | Source | Chief Investment Officer at Langan Financial Group LLC

Alex advises, "Pump up contributions to 401(k)s and IRAs to cut taxable income." Review investments to align with goals. Use FSAs to avoid losing funds. Consider charitable donations for tax benefits. Plan for 2025 by setting a budget and financial targets. These steps can enhance your financial wellbeing as you enter the new year.

Alex suggests retirees use their career expertise for side gigs. "Use your experience and ability to your advantage," he advises. Former accountants might offer bookkeeping services during tax season, while ex-landscapers could join larger companies in peak months. This approach not only provides extra income but also utilizes retirees' valuable skills.

Alex advises treating Social Security as "longevity insurance." Delaying benefits until age 70 ensures higher payments, crucial for married couples to maximize survivor benefits. Consider health, life expectancy, and financial needs when deciding when to claim. Thoughtful planning can enhance financial security in retirement.