For those nearing retirement, there’s one truth that becomes increasingly clear: the window to build wealth narrows with each passing year. While starting early is always ideal, it’s not too late for pre-retirees in their 50s or early 60s to make meaningful progress toward financial security. In fact, now is the time to double down on savings—and fortunately, there are tools designed to help.

A recent report revealed that retirement savings balances have reached a new high, thanks in large part to increased contributions from Gen X savers. But despite this encouraging data, many Americans still feel behind. Rising healthcare costs, market uncertainty, and longer lifespans have created real concern about whether existing savings will be enough to last through retirement. According to the Center for Retirement Research, nearly 50% of U.S. households may not be on track to maintain their standard of living in retirement.

That’s why boosting savings now is so important. One of the most powerful ways to do this is through catch-up contributions—a provision that allows individuals age 50 and older to contribute beyond the standard retirement plan limits.

In 2025, individuals can contribute up to $23,500 to a 401(k)—but if they’re 50 or older, they’re eligible to add an additional $7,500, bringing the total to $31,000. For IRAs, the standard limit is $7,000, with an extra $1,000 allowed for those 50 and older. Thanks to the SECURE 2.0 Act, individuals aged 60 to 63 may be eligible for an even larger “super catch-up,” raising that additional limit to $11,250 in some cases.

These expanded limits aren’t just a nice bonus—they can dramatically improve retirement readiness. One Georgetown University study found that middle-income households that took advantage of catch-up contributions increased their retirement assets by an average of over 25%.

But increasing savings isn’t just about hitting numbers. It’s about preparing for the lifestyle, challenges, and opportunities that retirement brings. That means taking into account not just investments, but taxes, healthcare costs, inflation, and the legacy one hopes to leave behind.

That’s where financial advisory plays a vital role. For pre-retirees trying to make the most of their remaining working years, an advisor can help:

• Evaluate your retirement readiness and identify any gaps.
• Implement catch-up contributions and other high-impact strategies.
• Tailor investment and withdrawal strategies to minimize tax burden.
• Plan for healthcare and long-term care needs.
• Adapt to changes in the economy, policy, and personal goals.

Retirement is more than a milestone—it’s a transition that should be made with clarity, confidence, and a strategy. Working with a trusted financial advisor can turn uncertainty into action and help ensure that every dollar saved works harder and smarter. For those who want to get the most out of their journey to—and through—retirement, expert guidance can make all the difference.  Click HERE to reach out to one of our professionals at Zinnia Wealth Management today for a complimentary review of your finances.