Retirement Quick Tips with Ashley

This week on the Retirement Quick Tips podcast, I'm talking about why most Americans never reach financial independence and become wealthy.

Most of you listening to this podcast are boomers and gen Xers. College debt wasn't the crisis back then it was today. In fact, for many of you listening, unless you went to law school, medical school, or got some advanced degree, there's a good chance you graduated college with little to no debt.

Unless you've been living under a rock, that's obviously not the case today. Average student loan debt is now $39,075. Repayment usually takes 10-20 years at $500+ per month.

This week on the Retirement Quick Tips podcast, I'm talking about why most Americans never reach financial independence and become wealthy.

Today, I'm talking about one of the main reasons why most Americans don't reach financial independence - poor spending decisions made early in life that put you in a debt cycle that most people just don't get out of.

This week on the Retirement Quick Tips podcast, I'm talking about why most Americans never reach financial independence and become wealthy.

Today, I'm talking about an inconvenient truth behind why so many Americans never reach financial independence.

Welcome to The Retirement Quick Tips Podcast, your daily guide to preparing for and living your best retirement. I'm your host Ashley Micciche, and this week, I'm sharing with you some shocking money statistics that when you put it all together, solve the puzzle why most Americans never become wealthy.

your best retirement. I'm your host Ashley Micciche, and in the week of Thanksgiving, I'm sharing just one episode with you so I can take time to peel potatoes and make sure our turkey brine is doing it's job.

I wish you many blessings this Thanksgiving, and I'm grateful for the time you choose to spend with me on this podcast. Thank you for allowing me to be a part of your retirement planning journey, and I wish you and your loved ones a joy-filled Thanksgiving!

If you're new to the podcast - Hi there! I'm a financial advisor and co-owner of True North Retirement Advisors. For the last 18 years, I've helped my clients navigate the challenges and incredible opportunities of retirement….and this podcast is dedicated to helping you do the same!

With this week being thanksgiving, I want to share with you how gratefulness helps you make better money decisions, as well as 5 things I'm most thankful for in 2025.

It's Sunday and I'm wrapping up the week by summarizing this week's theme: Big Changes Coming For 401(k) Savers Over 50 In 2026

In case you missed any episodes this week, here's what we covered.

This week on the Retirement Quick Tips Podcast, I'm talking about the new rules for catch up contributions for higher earners over 50, going to effect in 2026: If you're participating in your 401k plan at work, if you're over 50, you're planning to maximize your contributions including the additional catch-up contribution, and you're going to make more than $145,000 in wages from your employer in 2025 - the rules for making catch up contributions are changing for you in 2026.

Today, I'm talking about your action plan for successfully implementing this rule change in 2026 in your own savings plan.

This week on the Retirement Quick Tips Podcast, I'm talking about the new rules for catch up contributions for higher earners over 50, going to effect in 2026: If you're participating in your 401k plan at work, if you're over 50, you're planning to maximize your contributions including the additional catch-up contribution, and you're going to make more than $145,000 in wages from your employer in 2025 - the rules for making catch up contributions are changing for you in 2026.

Today, I'm addressing some special circumstances and some frequently asked questions around this change.

This week on the Retirement Quick Tips Podcast, I'm talking about the new rules for catch up contributions for higher earners over 50, going to effect in 2026: If you're participating in your 401k plan at work, if you're over 50, you're planning to maximize your contributions including the additional catch-up contribution, and you're going to make more than $145,000 in wages from your employer in 2025 - the rules for making catch up contributions are changing for you in 2026.

I spent the last couple days explaining this in detail, so if you missed those episodes, be sure to go back and have a listen.

Today, I'm talking about the tax implications of this change and how you can prepare for it if you're used to getting a tax deduction on your 401k contributions.

If you're participating in your 401k plan at work, if you're over 50, you're planning to maximize your contributions including the additional catch-up contribution, and you're going to make more than $145,000 in wages from your employer in 2025 - the rules for making catch up contributions are changing for you in 2026.

Yesterday, I explained more details about who this change is going to impact, and today I want to focus on some special catch-up rules for those of you who are age 60-63.