7 Unique Ways To Save for Retirement in 2025
Written by
Laura Beck
Edited by
Amber Barkley
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Saving for retirement isn’t getting any easier. With inflation a constant challenge and salary increases often not enough to outpace it, every dollar counts. Here’s what financial experts say about finding extra money for your nest egg.
The Side Hustle Advantage
Have a consulting gig on top of your day job? You might be leaving money on the table.
“Even if you have access to an employer-sponsored retirement plan, if you have self-employment or consultancy income, you may be eligible to contribute to a SEP IRA,” explained Marguerita Cheng of RetireGuide. One of her clients earned $38,000 from consulting and was able to stash away an extra $8,000 for retirement.
The Insurance Game-Changer
Here’s a simple move that paid off big for Cheng: “By increasing my deductible from $500 to $1,000, I was able to save $408 per year.” That’s found money for retirement.
The Subscription Cleanup
Emily Millsap, CFP and manager of financial planning at Avantax, got brutally honest about those sneaky monthly charges: “I currently have a $20 gym membership I’ve been meaning to cancel. That’s $240 per year that I could put to much better use — for example, by contributing it to my 401(k) or IRA!”
The Debt-First Strategy
Before you max out those retirement contributions, Stewart Willis, president of Asset Preservation Wealth & Tax, suggested taking a hard look at your credit cards: “Evaluate whether it makes sense to pay off high-interest debt, as falling rates may not apply to credit cards.”
The Car Payment Trick
Just paid off your car? Cheng recommended “saving half [the amount of the payments you were making] to build up emergency savings and the other half for retirement.”
After all, you’re already used to not having that money in your monthly budget.
The 5-Minute Phone Call
“Call your cell phone, insurance and internet providers and ask for a discount,” Millsap said. “It sounds simple, but it’s often lucrative.”
The 1% Solution
“Even a 1% increase can really add up over time!” Millsap said of retirement contributions. Small changes today can mean big differences tomorrow.
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