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Here are four smart moves retirees should make tobuild their retirement savings in 2025.
Utilize ahigh-yield savings account, and consider locking in rates on bonds or fixed annuities, Coley said.
Understand that Social Security payments could change.
There is talk of reducing COLAs (cost-of-living adjustments) and delaying or reducing Social Security benefits.
While these developments may create new opportunities, retirees should focus on protecting their savings by rebalancing their portfolios.
In practice, this means diversifying their portfolio with stocks and bonds, Stroup said.
Retirees could commit to making meals at home, Musson said.
YouTube has a lot of helpful content to learn how to cook.
Homemade meals cost a lot less than the same meal eaten out.
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