The start of a new year is a natural time to set fresh financial resolutions, but unfortunately most don’t last past February. One reason may be that our money goals often don’t align with the way we naturally think or how we stay motivated once the initial enthusiasm fades. A study of more than 2,400 individuals published by American Psychologist found that people tend to save more successfully when their savings goals fit their personality — specifically their “Big Five” personality traits. Here’s how higher levels of these traits may influence everyday saving behavior… Openness: You’re creative, future-minded, and receptive to new experiences. Goals tied to inspiration, growth, or meaningful exploration may feel more motivating. If this sounds like you, saving for retirement abroad, travel, or a hobby you’ve always wanted to try may help you keep your saving plan on track. Conscientiousness: You like plans, order, and follow-through. Practical, clearly defined goals (e.g., methodically paying down a credit card balance or making extra mortgage payments) might appeal to your disciplined nature. Extraversion: You gain energy from people and social interactions. Goals connected to shared experiences or exciting future plans that involve others — such as organizing a family reunion, group travel, or saving to move to an active retirement community — may help keep you on course. Agreeableness: You’re driven by connection, cooperation, and concern for others. Financial goals that benefit loved ones or reflect shared values, such as creating a legacy trust for future generations or prioritizing charitable giving, may feel more purposeful and motivating. Neuroticism: While this word may feel like something you’d hear in a Woody Allen movie, neuroticism is simply a measure of sensitivity to stress and negative emotions. So, goals that ease worry and create a sense of security, calm, or safety — such as building a rainy-day fund or reducing debt — might be particularly effective for you. Saver, Know Thyself Even without taking a formal personality test, you can still consider which traits feel like a match and choose goals with those tendencies in mind to achieve what the researchers called “person-goal fit.” Ask yourself: “Am I drawn more to new experiences, regimented plans and checklists, energizing social interactions, supporting others, or easing financial anxiety?” Ultimately, your likelihood of sticking with a financial goal often depends on what it truly means to you. What motivates one person may barely register for someone else. When your savings goals fit your personality, you may be surprised at how much easier the follow-through becomes. Sources: https://www.apa.org/pubs/journals/releases/amp-amp0001128.pdf

Most people don’t look forward to annual IRS announcements the same way they do the next season of their favorite Netflix show, but this one’s worth a look. Higher retirement plan contribution limits have been announced for 2026, and even a modest bump in your savings rate can make a big difference down the road. Here’s what’s new for 2026: 401(k), 403(b), and 457(b) : the elective deferral limit is increasing to $24,500 (from $23,500 in 2025) Catch-up contribution (for those aged 50+): the limit is increasing to $8,000 (from $7,500 in 2025) Super catch-up contribution (for those aged 60–63): the limit remains at $11,250 for 2026 Participants who earned more than $145,000 in 2025 will need to make any catch-ups as Roth (after-tax) contributions Consider Saving More Today. Your Future Self Will Thank You. Even a small bump in your annual contribution rate can result in a meaningful boost toward your retirement goals. Let’s consider Ann. She is 45 years old, earns $50,000 a year, has $150,000 in her 401(k), and contributes 10% of her paycheck annually to the plan. Raising her contribution to 12% (just $1,000 more per year) could yield more than $42,000 in additional savings for Ann over 20 years (assuming an average 7% annual investment return and no change in her salary). Add a 50% employer match on the first 6% of her contributions, and Ann’s overall savings and earning boost could reach approximately $63,000. Small Moves Can Make a Big Difference If you want to sock away that extra $1,000 – or any additional amount – to help build a bigger nest egg for your future self, consider one or more of these strategies: Adjust your budget. Even small changes, like reducing subscriptions or discretionary spending, can help create more space in your paycheck for retirement savings. Use gift money or other non-paycheck income to make room for savings. Money you get from outside your paycheck can’t go directly into your 401(k), but it can help you take care of other expenses and create an opportunity to bump up your retirement plan contribution rate. Maximize any employer match. Don’t go it alone. Depending on the formula, your employer match could cover a large share of the extra amount you want to save. Once you retire, any extra amount you’ve saved and earned could help you cover healthcare costs, create a travel fund, manage financial emergencies, or bump up your charitable giving — whatever future freedom means to you. If you’re eligible and capable, take advantage of catch-up contributions to increase your momentum and potentially make your 50s and early 60s some of your most impactful years for savings. Even if you’ve fallen behind on your retirement savings progress, there’s still time to make a significant difference. Forge a Brighter Retirement Reality So, if you’re catching up on Stranger Things over the holidays, remember that you don’t need to visit a parallel dimension to set your future self up for a more secure retirement. Consider what small adjustments today could mean for yourself and your retirement portfolio tomorrow. Sources: https://www.irs.gov/newsroom/401k-limit-increases-to-24500-for-2026-ira-limit-increases-to-750 https://www.aarp.org/money/retirement/401k-calculator/

When you think of the benefits of your retirement plan, tax-deferred savings and matching contributions are probably top of mind. But there’s more to your workplace retirement plan than meets the eye. Beyond the basics, retirement plans can come with a number of lesser-known advantages that can help you protect, grow, and pass on your savings more efficiently. Here are six perks you might not even realize you have. Dollar Cost Averaging. Your retirement contributions go into your account on a regular schedule, regardless of fluctuations in the market. This means you buy more shares when prices are low and fewer when prices are high, evening out your average cost per share over time. This is known as “dollar cost averaging.” It’s a simple, steady approach that takes the guesswork and emotion out of investing, helping you stay consistent through market ups and downs. Greater Creditor Protection. Retirement balances are generally shielded from commercial creditors, adding an extra layer of security for your nest egg. This protection is built into federal law, offering a safeguard most personal investment accounts can’t match. Even if you face a lawsuit or bankruptcy, your retirement savings are generally off-limits to most creditors. While certain exceptions can apply — such as for federal income taxes owed to the IRS — this layer of protection can help keep more of your hard-earned savings dedicated to your financial future. Access to Exclusive Investments. Your retirement may include options not found in regular brokerage accounts, such as collective investment trusts (CITs). These pooled investment vehicles, maintained by a bank or trust company, are designed specifically for retirement plans and often offer lower costs and greater operational efficiency than mutual funds. CITs operate with fewer marketing and administrative expenses, and they’re managed in bulk for institutional investors like retirement plans. Lower costs can translate directly into higher long-term returns, which can help your balance grow faster over time. Easier Estate Planning. You can name beneficiaries directly on your retirement account, helping your savings transfer smoothly without probate delays. By naming your beneficiaries, you can help ensure that your savings pass directly to your chosen heirs, avoiding the time, expense, and complications of probate. Regularly reviewing and updating your beneficiary designations after major life events, such as marriage, divorce, or the birth of a child, can help keep your estate plan aligned with your wishes. Professional Oversight. Retirement plans have designated fiduciaries that are responsible for reviewing fund performance, keeping fees reasonable, and ensuring investment options meet the plan’s standards, giving you the benefit of built-in due diligence and expert oversight. These fiduciaries are legally obligated to act in your best interest, quietly working behind the scenes for your benefit. Potential Fee Savings. Many larger plans offer institutional share classes with lower fees. While the difference may seem small, perhaps just a few tenths of a percent, those cost savings can add up to tens of thousands of extra dollars over decades of compounding. Lower expenses mean a higher percentage of each contribution stays invested, allowing more of your savings to keep working for you. By understanding and taking advantage of these benefits, you can help make the most of your plan and strengthen your retirement readiness. A little knowledge can go a long way toward securing your financial future. Sources: https://www.equifax.com/personal/education/life-stages/articles/-/learn/protect-retirement-account-from-creditor https://www.kiplinger.com/personal-finance/the-basics-of-estate-planning https://www.ey.com/en_us/insights/financial-services/the-growing-popularity-of-cits-in-us-retirement-plans s

When you think of the benefits of your retirement plan, tax-deferred savings and matching contributions are probably top of mind. But there’s more to your workplace retirement plan than meets the eye. Beyond the basics, retirement plans can come with a number of lesser-known advantages that can help you protect, grow, and pass on your savings more efficiently. Here are six perks you might not even realize you have. Dollar Cost Averaging. Your retirement contributions go into your account on a regular schedule, regardless of fluctuations in the market. This means you buy more shares when prices are low and fewer when prices are high, evening out your average cost per share over time. This is known as “dollar cost averaging.” It’s a simple, steady approach that takes the guesswork and emotion out of investing, helping you stay consistent through market ups and downs. Greater Creditor Protection. Retirement balances are generally shielded from commercial creditors, adding an extra layer of security for your nest egg. This protection is built into federal law, offering a safeguard most personal investment accounts can’t match. Even if you face a lawsuit or bankruptcy, your retirement savings are generally off-limits to most creditors. While certain exceptions can apply — such as for federal income taxes owed to the IRS — this layer of protection can help keep more of your hard-earned savings dedicated to your financial future. Access to Exclusive Investments. Your retirement may include options not found in regular brokerage accounts, such as collective investment trusts (CITs). These pooled investment vehicles, maintained by a bank or trust company, are designed specifically for retirement plans and often offer lower costs and greater operational efficiency than mutual funds. CITs operate with fewer marketing and administrative expenses, and they’re managed in bulk for institutional investors like retirement plans. Lower costs can translate directly into higher long-term returns, which can help your balance grow faster over time. Easier Estate Planning. You can name beneficiaries directly on your retirement account, helping your savings transfer smoothly without probate delays. By naming your beneficiaries, you can help ensure that your savings pass directly to your chosen heirs, avoiding the time, expense, and complications of probate. Regularly reviewing and updating your beneficiary designations after major life events, such as marriage, divorce, or the birth of a child, can help keep your estate plan aligned with your wishes. Professional Oversight. Retirement plans have designated fiduciaries that are responsible for reviewing fund performance, keeping fees reasonable, and ensuring investment options meet the plan’s standards, giving you the benefit of built-in due diligence and expert oversight. These fiduciaries are legally obligated to act in your best interest, quietly working behind the scenes for your benefit. Potential Fee Savings. Many larger plans offer institutional share classes with lower fees. While the difference may seem small, perhaps just a few tenths of a percent, those cost savings can add up to tens of thousands of extra dollars over decades of compounding. Lower expenses mean a higher percentage of each contribution stays invested, allowing more of your savings to keep working for you. By understanding and taking advantage of these benefits, you can help make the most of your plan and strengthen your retirement readiness. A little knowledge can go a long way toward securing your financial future. Sources: https://www.equifax.com/personal/education/life-stages/articles/-/learn/protect-retirement-account-from-creditors https://www.kiplinger.com/personal-finance/the-basics-of-estate-planning https://www.ey.com/en_us/insights/financial-services/the-growing-popularity-of-cits-in-us-retirement-plans

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