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Illinois coach Brad Underwood believes in players pushing each other during practice to improve themselves and the team. That's why he often pits starting guards Kylan Boswell and Kasparas Jakucionis against each other in practice. Underwood figures if it worked for Ayo Dosunmu and Trent Frazier, why not his newest backcourt? So far, that method appears to be paying off again as Boswell and Jakucionis are keying a strong start for the No. 24 Fighting Illini (8-3). They'll shoot for a non-conference win Sunday afternoon when Chicago State (0-14) visits Champaign, Ill. Boswell and Jakucionis' imprints were all over Illinois' 80-77 Braggin' Rights win over Missouri in St. Louis on Dec. 22. They combined for 37 points, 11 rebounds and nine assists, with Jakucionis scoring 21 for his sixth straight game with at least 20 points. Underwood said pitting the two against each other in practice is a win-win. "I play them opposite each other so they can just exhaust each other and beat each other up," the coach said. Jakucionis, who averages a team-high 16.5 points a game on 46.8 percent shooting from the field, co-signs on that philosophy. "We elevate each other," he said. "In practice, we're pushing each other by defending and attacking each other. And it makes one another better each day and every day." Boswell adds 10.6 ppg to go with 3.5 assists, while teammates Tomislav Ivisic (13.9 ppg) and Will Riley (12.5) also are in double figures in scoring. Perhaps the best thing about this team is that it appears to have more ceiling left. Illinois is averaging 83.6 points a game without being efficient from the field (43.3 percent) or the 3-point line (32.3 percent). The Illini likely will find more efficiency against the winless Cougars, who are searching for answers and consistency in their first year as a member of the Northeast Conference. They haven't played since Dec. 21, when they fell 81-57 at Cal State Northridge. It was predictable that Chicago State would struggle. After earning 13 wins last season at a program that has had a hard time winning consistently, coach Gerald Gillion left to serve as Rod Strickland's lead assistant at Long Island. New Cougars coach Scott Spinelli, who worked under Mark Turgeon (Maryland) and Jim Christian (Boston College), not only had to replace most of his roster but brought a new style of play to town. Gillion played a methodical half-court game, and Spinelli is trying to play at a faster pace. "We want to have guys out there that can get up and down the floor," Spinelli said this past summer. That hasn't come to fruition yet. The Cougars are last in Division I in field-goal percentage at 35.1 and third from the bottom in scoring at 59.6 points per game. They also rank near the bottom in free-throw percentage, 3-point percentage, rebounding, assists and turnovers. Jalen Forrest is the team's leading scorer at 9.1 ppg but is shooting only 33.6 percent from the field. Cameron Jernigan averages a team-high 4.5 rebounds. --Field Level MediaBethlehem marks a second subdued Christmas Eve during the war in GazaWith the holidays taking up much of your time, you may not be concentrating on retirement moves to make before 2025. But if you’re the type of person who does everything to the max, investing in your future retirement now could be a game changer. In 2024, you can invest up to $23,000 into your 401(k) retirement plan as per IRS contribution limits. If you’re over 50 and need to play catch-up, you can invest an extra $7,500. That means your total possible contribution for 2024 is $30,500. If that seems like a lot, it is. But you don’t have to max out your contributions if you can’t afford it. Employer matching can help. In 2025, you can invest $23,500, bringing your possible contribution up to $31,500. If you’re over 50, the catch-up contribution remains at $7,500 for 2025. But a huge change was made in SECURE 2.0 for employees aged 60 to 63 who participate in workplace retirement plans. Starting in 2025, this super catch-up contribution limit is $11,250 instead of $7,500. Adobe Stock 1. Figure out how much you contributed. If you’ve contributed as much as possible for the year, you’re in good shape going into 2025. If you’re not sure, you changed jobs or haven’t contributed consistently in 2024, you still have time to make adjustments to max out your 401(k) contributions for the year. 2. Check your employer’s match. Employer matching is a job benefit not to be overlooked. After all, for every dollar you save in your 401(k), your employer matches your contributions dollar-for-dollar or offers a partial match up to a certain percentage of your wages. Knowing where you stand can help you make the most of this opportunity. For example, let’s say you earn $50,000 per year and contribute $3,000 to your 401(k), or 6% of your salary. If your employer offers to match 50 cents of each dollar you contribute up to 6% of your pay, they would add $1,500 each year to your 401(k) account, boosting your total annual contributions to $4,500. 3. Look at your budget. Maxing out your 401(k) is always a good move. However, retirement planning can be a balancing act; sometimes, your budget is downright against it. If you have high debt or no money set aside for emergencies, you may want to hold off a bit. That doesn’t mean you shouldn’t contribute to your retirement plan at all. Maintaining contributions is important, even if it means not maxing it out. Still, if you wait too long to save, you’ll have to play catch-up. Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | Stitcher | RSS Feed | SoundStack | All Of Our Podcasts If you save too much, you may have to tap into your account early, which can mean early withdrawal penalties if you are under age 591⁄2. 4. Boost your contributions. If you have enough cash stashed away to cover a large lump sum contribution to your 401(k), you could max out your 401(k) contributions before the end of the year. You can do this by increasing the percentage you contribute monthly from your paycheck. You’ll want to speak with your employer or HR department to see if this is possible and fill out the necessary paperwork. Keep in mind that how often you increase it or even if you can will depend on your plan rules. You may also want to check to be sure your contributions are still automatic. Since it’s usually easier to save money if it’s automatically deducted from your paycheck, it may be worth reviewing your budget to see if you can boost your contribution amount to max out your 401(k). If you haven’t set up automatic payroll contributions, now is a good time to do so. Maxing out your 401(k) has some clear benefits. This is especially true if you’ve fallen behind on your savings goals or you simply want to grow your retirement nest egg faster. The main advantage is that you’ll have more money saved for retirement. According to Northwestern Mutual’s 2024 Planning & Progress Study, most retired Americans believe they will need nearly $1.5 million in the bank to retire comfortably. That’s a 15% increase — which far outpaces the 3% to 5% inflation rate — over 2023 and is up 53% from 2020. The money you put into your 401(k) lowers how much you’ll pay in taxes for the year, which may put you in a lower tax bracket. Also, 401(k) investments grow tax-deferred, so you won't pay taxes on the money until you withdraw the funds in retirement. If you have a Roth 401(k), you don't get a tax break on contributions because you fund your account with after-tax dollars. But the money you contribute grows tax-free and you won’t pay any taxes on your withdrawals in retirement. Maxing out your 410(k) each year may not be enough to retire comfortably, but it is a great start. That’s why enlisting the help of a financial adviser in 2024 can help you get a head start on 2025 and a happy retirement down the road.
Dana Hull | (TNS) Bloomberg News Jared Birchall, Elon Musk’s money manager and the head of his family office, is listed as the chief executive officer. Jehn Balajadia, a longtime Musk aide who has worked at SpaceX and the Boring Co., is named as an official contact. Related Articles National Politics | Biden will decide on US Steel acquisition after influential panel fails to reach consensus National Politics | Biden vetoes once-bipartisan effort to add 66 federal judgeships, citing ‘hurried’ House action National Politics | A history of the Panama Canal — and why Trump can’t take it back on his own National Politics | President-elect Trump wants to again rename North America’s tallest peak National Politics | Inside the Gaetz ethics report, a trove of new details alleging payments for sex and drug use But they’re not connected to Musk’s new technology venture, or the political operation that’s endeared him to Donald Trump. Instead, they’re tied to the billionaire’s new Montessori school outside Bastrop, Texas, called Ad Astra, according to documents filed with state authorities and obtained via a Texas Public Information Act request. The world’s richest person oversees an overlapping empire of six companies — or seven, if you include his political action committee. Alongside rockets, electric cars, brain implants, social media and the next Trump administration, he is increasingly focused on education, spanning preschool to college. One part of his endeavor was revealed last year, when Bloomberg News reported that his foundation had set aside roughly $100 million to create a technology-focused primary and secondary school in Austin, with eventual plans for a university. An additional $137 million in cash and stock was allotted last year, according to the most recent tax filing for the Musk Foundation. Ad Astra is closer to fruition. The state documents show Texas authorities issued an initial permit last month, clearing the way for the center to operate with as many as 21 pupils. Ad Astra’s website says it’s “currently open to all children ages 3 to 9.” The school’s account on X includes job postings for an assistant teacher for preschool and kindergarten and an assistant teacher for students ages 6 to 9. To run the school, Ad Astra is partnering with a company that has experience with billionaires: Xplor Education, which developed Hala Kahiki Montessori school in Lanai, Hawaii, the island 98% owned by Oracle Corp. founder Larry Ellison. Ad Astra sits on a highway outside Bastrop, a bedroom community about 30 miles from Austin and part of a region that’s home to several of Musk’s businesses. On a visit during a recent weekday morning, there was a single Toyota Prius in the parking lot and no one answered the door at the white building with a gray metal roof. The school’s main entrance was blocked by a gate, and there was no sign of any children on the grounds. But what information there is about Ad Astra makes it sound like a fairly typical, if high-end, Montessori preschool. The proposed schedule includes “thematic, STEM-based activities and projects” as well as outdoor play and nap time. A sample snack calendar features carrots and hummus. While Birchall’s and Balajadia’s names appear in the application, it isn’t clear that they’ll have substantive roles at the school once it’s operational. Musk, Birchall and Balajadia didn’t respond to emailed questions. A phone call and email to the school went unanswered. Access to high quality, affordable childcare is a huge issue for working parents across the country, and tends to be an especially vexing problem in rural areas like Bastrop. Many families live in “childcare deserts” where there is either not a facility or there isn’t an available slot. Opening Ad Astra gives Musk a chance to showcase his vision for education, and his support for the hands-on learning and problem solving that are a hallmark of his industrial companies. His public comments about learning frequently overlap with cultural concerns popular among conservatives and the Make America Great Again crowd, often focusing on what he sees as young minds being indoctrinated by teachers spewing left-wing propaganda. He has railed against diversity, equity and inclusion efforts, and in August posted that “a lot of schools are teaching white boys to hate themselves.” Musk’s educational interests dovetail with his new role as Trump’s “first buddy.” The billionaire has pitched a role for himself that he — and now the incoming Trump administration — call “DOGE,” or the Department of Government Efficiency. Though it’s not an actual department, DOGE now posts on X, the social media platform that Musk owns. “The Department of Education spent over $1 billion promoting DEI in America’s schools,” the account posted Dec. 12. Back in Texas, Bastrop is quickly becoming a key Musk point of interest. The Boring Co., his tunneling venture, is based in an unincorporated area there. Across the road, SpaceX produces Starlink satellites at a 500,000-square-foot (46,000-square-meter) facility. Nearby, X is constructing a building for trust and safety workers. Musk employees, as well as the general public, can grab snacks at the Boring Bodega, a convenience store housed within Musk’s Hyperloop Plaza, which also contains a bar, candy shop and hair salon. Ad Astra is just a five-minute drive away. It seems to have been designed with the children of Musk’s employees — if not Musk’s own offspring — in mind. Musk has fathered at least 12 children, six of them in the last five years. “Ad Astra’s mission is to foster curiosity, creativity, and critical thinking in the next generation of problem solvers and builders,” reads the school’s website. A job posting on the website of the Montessori Institute of North Texas says “While their parents support the breakthroughs that expand the realm of human possibility, their children will grow into the next generation of innovators in a way that only authentic Montessori can provide.” The school has hired an executive director, according to documents Bloomberg obtained from Texas Health and Human Services. Ad Astra is located on 40 acres of land, according to the documents, which said a 4,000-square-foot house would be remodeled for the preschool. It isn’t uncommon for entrepreneurs to take an interest in education, according to Bill Gormley, a professor emeritus at the McCourt School of Public Policy at Georgetown University who studies early childhood education. Charles Butt, the chairman of the Texas-based H-E-B grocery chain, has made public education a focus of his philanthropy. Along with other business and community leaders, Butt founded “Raise Your Hand Texas,” which advocates on school funding, teacher workforce and retention issues and fully funding pre-kindergarten. “Musk is not the only entrepreneur to recognize the value of preschool for Texas workers,” Gormley said. “A lot of politicians and business people get enthusiastic about education in general — and preschool in particular — because they salivate at the prospect of a better workforce.” Musk spent much of October actively campaigning for Trump’s presidential effort, becoming the most prolific donor of the election cycle. He poured at least $274 million into political groups in 2024, including $238 million to America PAC, the political action committee he founded. While the vast majority of money raised by America PAC came from Musk himself, it also had support from other donors. Betsy DeVos, who served as education secretary in Trump’s first term, donated $250,000, federal filings show. The Department of Education is already in the new administration’s cross hairs. Trump campaigned on the idea of disbanding the department and dismantling diversity initiatives, and he has also taken aim at transgender rights. “Rather than indoctrinating young people with inappropriate racial, sexual, and political material, which is what we’re doing now, our schools must be totally refocused to prepare our children to succeed in the world of work,” Trump wrote in Agenda 47, his campaign platform. Musk has three children with the musician Grimes and three with Shivon Zilis, who in the past was actively involved at Neuralink, his brain machine interface company. All are under the age of five. Musk took X, his son with Grimes, with him on a recent trip to Capitol Hill. After his visit, he shared a graphic that showed the growth of administrators in America’s public schools since 2000. Musk is a fan of hands-on education. During a Tesla earnings call in 2018, he talked about the need for more electricians as the electric-car maker scaled up the energy side of its business. On the Joe Rogan podcast in 2020, Musk said that “too many smart people go into finance and law.” “I have a lot of respect for people who work with their hands and we need electricians and plumbers and carpenters,” Musk said while campaigning for Trump in Pennsylvania in October. “That’s a lot more important than having incremental political science majors.” Ad Astra’s website says the cost of tuition will be initially subsidized, but in future years “tuition will be in line with local private schools that include an extended day program.” “I do think we need significant reform in education,” Musk said at a separate Trump campaign event. “The priority should be to teach kids skills that they will find useful later in life, and to leave any sort of social propaganda out of the classroom.” With assistance from Sophie Alexander and Kara Carlson. ©2024 Bloomberg News. Visit at bloomberg.com. Distributed by Tribune Content Agency, LLC.Liverpool transfer news as Wolves star Matheus Cunha rises to be an in-demand player for 2025 and won't come cheap anymore Only four players have scored more goals than Wolves' Matheus Cunha after 18 matches of the Premier League season. Alexander Isak is the sole name to have done it without needing a single penalty. Add in Cunha's assists (four), and he is sixth in the division for overall contributions. With Wolves down in 17th, hovering just above the relegation zone and within a matchday swing of dropping back into the bottom three, his achievement is all the more impressive. When it comes to goals and assists, Bryan Mbeumo in 12th with Brentford is the next player to represent a higher-placed team above Wolves on this list. Jarrod Bowen at West Ham (13th in the league, 17th in the contribution chart) follows them. Markers for a player's worth, value, and performances don't come much bigger than that. It is why Liverpool have now been linked with Wolves' star. He is reportedly one of the targets heading into 2025 with Manchester City, Manchester United, Arsenal, and Newcastle all providing competition. Cunha is not said to be pushing for an exit next month despite the form and interest but is sure to be one to watch for the coming winter and summer windows regardless. Having ended last season with 12 goals and seven assists - only one of those coming from spot - it is a bank of work being built by Cunha that now demands attention. Always a promising player at Hertha Berlin and then Atletico Madrid, he is developing into a genuine standout for the Premier League . Despite being young, the Brazilian international has always commanded large fees. RB Leipzig spent over £10million to sign him as a teenager before nearly doubling their money two years later in a move across the Bundesliga. 18 months later it was Diego Simeone again nearly paying twice as much with Atleti. Wolves were convinced by his six-month loan and parted with over £45million to get him to Molineux. It is said that at least the same again will be needed to see them part way with Cunha in 2025. On current form, it is a price that is hard to argue with. If anything, at current market rates, it is probably less than might have been expected. Wolves are not in a position where they need to sell right now, though, and have seen their fortunes start to pick up under Vitor Pereira. If they stay up then it will only boost their resoluteness to keep him. Such has been the rise of Cunha, his estimated value has shot up as well as his own standing in the game. Shortly after moving to Wolves on loan he was deemed to be worth just over £25million by Transfermarkt. That has almost only gone up since, which shows just how influential he has been. This time last year his price was seen to be at just shy of £30million with last season ending with him up at over £40million, reflecting where Wolves thought he was as a player. Now resting a notch higher at nearly £45milion. CIES Football Observatory agrees, pitting him at £43million earlier this season. For Liverpool, who know they will have to go big in order to try and prize him away from the Midlands, it will hurt to see where his stock was and how readily available he might have been previously. However, competing at the top of the table leaves the club with very little room for manoeuvre and waiting for Cunha to shoot up is not much of an option either. Given that he was picked up for £25million just over three years ago and is now worth considerably more, it is a blow to see the price now be so much more. That is the game that is played at the highest end, though, and Liverpool may well see it as being reasonable now.
Drought, fires and deforestation battered Amazon rainforest in 2024The Kings headed into Saturday’s rubber match of their three-game homestand with serious concerns about their power play as well as some individual offensive performers that they hoped to get back afloat against the surging Seattle Kraken. They disposed of the dead-tired Detroit Red Wings to kick off the homestand – which is part of nine straight games to be played in California – but were shut out for the first time this season by the Buffalo Sabres Wednesday. The black and silver became the not-so-proud owners of the NHL’s worst power play since Nov. 10 – they’ve scored no power-play goals since Nov. 9 and that one was an empty-netter – and have the fourth-worst conversion rate over all of 2024-25. Their 0-for-5 performance as they were bageled 1-0 by Buffalo was their third such display this season, including an 0-for-6 showing in a loss to lowly San Jose . They’ve gone 0 for 4 on four other occasions, and went without a power-play goal in 13 of their 20 games so far. Their newly assembled top unit of five forwards has had the vibe of Dean Smith’s four-corner offense at times and, at its best, has produced nothing but near misses. The second unit’s struggles have been season-long, with the ineffectual play of both groups rendering meaningless the Kings’ numerous bromides about “looks” and “movement.” Their struggles haven’t been limited to the power play either. Overall, they’ve lost four of their past six games, and in those defeats they’ve managed a meager 1.25 goals per game. Since Nov. 10, they’ve been the NHL’s lowest scoring team on a per-game basis (1.75). Forward Quinton Byfield signed a lucrative extension this summer with the expectation that he’d push upward into the top tier of the Kings’ scoring leaderboard. But instead of chasing captain Anže Kopitar, Byfield’s production has more closely mirrored that of checker Trevor Lewis. The No. 2 overall pick in the 2020 draft surmounted several setbacks: a broken ankle and not one but two viral illnesses, one of which robbed him of about 25 pounds. Last season, he appeared poised for a breakout, but mixed form, tentativeness and tough luck have inhibited him in the first quarter of this campaign. “He’s had tough stretches before that he’s come out of,” Kings coach Jim Hiller said. “If anybody’s faced adversity, it’s been him through the first run of his career here. So, he’s been through that, he’ll get through it.” Hiller remarked that Byfield “wasn’t alone” among players who could not convert Wednesday. He also wasn’t unaccompanied in a crowd of slumping Kings. Winger Kevin Fiala has gone pointless in six straight games and defenseman Jordan Spence has spent much of the season turning the puck over as if he were cooking it on a grill. Meanwhile, Brock Faber, whom the Kings dealt along with a first-round pick for Fiala, has been the No. 1 defenseman for the West’s second-best team to date, the Minnesota Wild. Even the Kings’ early-season scorchers have cooled significantly. Brandt Clarke has been held scoreless in four straight games and six of his past seven. In his last two games, he and the top power-play unit have clearly missed each other. Related Articles Alex Laferriere remained in that grouping, but his production continued to sag. After a torrid stretch of eight goals in 10 games, he has one goal in his last eight appearances and no points in his four most recent outings. Slumping totals and shoulders alike will have to straighten up against leading scorer Jared McCann and Seattle, which rebounded from a four-game winless skid to capture five of its past six decisions. The Kraken have killed 90% of its penalties during their ascent, good for sixth in the NHL, and allowed a miserly 1.67 goals per game, the fourth-best mark in the league during that span. When: 1 p.m. Saturday Where: Crypto.com Arena How to watch: FDSNWAustralian Senate begins debate on world-first social media ban for children under 16
Till that happens, for the last column of the year, here are a few wild, random remarks and observations, just to keep our flagging spirits up. 2024 was a year of murder and mayhem. Assassinations and attacks. Danger and defeat. Struggles and strife. Excess and absurdity. Opulence and irreverence. Upheavals and upsets. Wars and no peace. But the world continues to spin on. So does Sunita Williams. Tu Mera Hero Contest 2024, in India, was won hands down by an unlikely candidate (ask Amit Shah), who emerged as a clear topper for the vast majority of citizens -- Babasaheb Ambedkar. And we mustn’t forget another superhero who put India on the international sports’ map by moving a few white pieces around on a board: 18-year-old Gukesh Dommaraju, the third youngest Grandmaster in the history of chess. In the controversies stakes, Babasaheb and the Constitution of India generated enough heat to give sleepless nights to millions. While showbiz folks like Diljit Dosanjh, Allu Arun and Kangana Ranaut kept the entertainment press working overtime by getting in and out of trouble with their provocative statements. Such a pity our favourite Flamboyance Pharoah Ranveer Singh, opted for a Daddy Cool break after the birth of his daughter Dua (no, not that Lipa). We miss his antics! The Americanisation of Middle India reached saturation point. Look around you. What do you see and hear? Yankee Doodle Dandy? Urban schoolkids behave like from Cartoon Network, down to the weird accents. Older children, the pre-teens and teens, have zero connect to their immediate environment -- they don’t think they are Indian. They don’t want to be Indian. Their fantasy lives are mixed up with a distorted “global” reality, as they binge on bizarre content across OTT platforms and play nasty video games. When we start reviewing the year just gone by, our selective memory kicks in. Every list in the universe is subjective and partial. Prejudiced and lop-sided. No matter what is claimed by those compiling it. Surveys and their interpretations are open to many challenges, which is what makes lists so much fun. If I say, for example, that the meteoric rise of Tripti Dimri to the top of the heap of “most searched Bollywood celebrities of 2024”, did not surprise me, there will be thousands asking: “But who is she?” Fair... Ditto for “Aaj ki Raat” the hottest item song of 2024, picturised on the luscious and luminous Tamannah Bhatia. It is this year’s unsurprising (to me) winner, as is “Stree-2”, a nonsensical horror movie about a feminist ghost (I swear I’m not making this up). Tamannah has fans swaying sexily from here to the North Pole. Can anybody explain its hold? It has become the number one song for DJs spinning away at New Year parties. 2024 has been a Year of Loss, more than anything else. So many legendary, iconic personalities have passed away, leaving those who knew and respected their work, totally bereft. My own, very personal sense of losing beloved people, began with fashion designer nonpareil Rohit (“Gudda”) Bal, who died under tragic circumstances, aged 63. In today’s times, with increased longevity, one can safely state, he died young and had a lot more to live for and give the world. We may not have been close friends, But Bal had the special ability to make people feel “seen”, appreciated and cherished. Our interactions, over the years, remain vivid and precious in my memory bank. Bal’s immense contribution to the world of fashion, will (hopefully), be meticulously documented in the years to come -- he deserves nothing less. Bal’s legacy extends well beyond fashion and couture. Rohit worshipped beauty, surrounded himself with beauty, and shared his commitment to beauty with uncommon generosity with all those lucky enough to have been in his orbit. Next to leave us was tabla wizard Zakir Hussain, who was gone just like that -- poof! The insistent beat of those magic fingers stopped abruptly, and we, his adoring admirers, lost our own rhythm briefly, recalling the many concerts he had drawn us to, the countless encounters here in India and across the world. Zakir was 73. His father and guru, the great Alla Rakha, had lived till 80. Hearing the duo energetically engaged in a was an unforgettable experience, a few music lovers from my generation were fortunate to have enjoyed. Zakir’s outgoing, entirely unaffected and consistently charming personality, made him one of the most approachable superstars of today, always ready to oblige fans with a selfie, autograph and hug. Shyam Benegal, at 90, was remarkable and unique. His movies transcended labels and are impossible to categorise or box into convenient “genres”. Simply because Shyam Benegal was a genre unto himself! He made films with an abiding passion for the subject, uncaring how they would fare at the box office. At the time of his death, he was raring to go, with three or four subjects he was toying with as future projects. Asked by a cocky, immature interviewer whether he had thought about his “after life”, he was puzzled and amused. The podcaster, not satisfied with Shyam’s thoughtful answer, kept badgering. Then came this cringe-making clincher: “Are you a bad Hindu?” Shyam laughed: “There’s nothing like a ‘bad Hindu’. You are a Hindu. Hinduism accepts everything -- good and bad.” He celebrated his 90th birthday joyfully on December 14, with friends and family cheering him on at a poolside party. On December 23, Shyam was no more. Then came the final blow: India’s beloved “Turbanator” and liberator, Dr Manmohan Singh, our former Prime Minister, crossed over, aged 92. The Bharat Ratna which he richly deserved was denied to him during his illustrious lifetime. A posthumous recognition is no recognition at all! But do award it, for God’s sake! Everyone will have their list to review as 2024 ends a few days from now. If the pleasant memories exceed the sad ones, consider yourself blessed. The political chaos around us cannot be ignored. Remaining upbeat and optimistic is obligatory, as we head into 2025, unsure of how things will unravel. More people will go to the great beyond. Icons will disgrace themselves. Tyrants will strive aggressively to continue their reign of terror. Millions will die. Millions will laugh. The French say it best: “ ” This is life! Brace yourselves. “Winter is coming”. You are warned. Come on, 2025 ... surprise and delight us! No more Annus Horribilis, okay??? Give us Annus Mirabilis, !!!With the holidays taking up much of your time, you may not be concentrating on retirement moves to make before 2025. But if you’re the type of person who does everything to the max, investing in your future retirement now could be a game changer. In 2024, you can invest up to $23,000 into your 401(k) retirement plan as per IRS contribution limits. If you’re over 50 and need to play catch-up, you can invest an extra $7,500. That means your total possible contribution for 2024 is $30,500. If that seems like a lot, it is. But you don’t have to max out your contributions if you can’t afford it. Employer matching can help. In 2025, you can invest $23,500, bringing your possible contribution up to $31,500. If you’re over 50, the catch-up contribution remains at $7,500 for 2025. But a huge change was made in SECURE 2.0 for employees aged 60 to 63 who participate in workplace retirement plans. Starting in 2025, this super catch-up contribution limit is $11,250 instead of $7,500. Adobe Stock 1. Figure out how much you contributed. If you’ve contributed as much as possible for the year, you’re in good shape going into 2025. If you’re not sure, you changed jobs or haven’t contributed consistently in 2024, you still have time to make adjustments to max out your 401(k) contributions for the year. 2. Check your employer’s match. Employer matching is a job benefit not to be overlooked. After all, for every dollar you save in your 401(k), your employer matches your contributions dollar-for-dollar or offers a partial match up to a certain percentage of your wages. Knowing where you stand can help you make the most of this opportunity. For example, let’s say you earn $50,000 per year and contribute $3,000 to your 401(k), or 6% of your salary. If your employer offers to match 50 cents of each dollar you contribute up to 6% of your pay, they would add $1,500 each year to your 401(k) account, boosting your total annual contributions to $4,500. 3. Look at your budget. Maxing out your 401(k) is always a good move. However, retirement planning can be a balancing act; sometimes, your budget is downright against it. If you have high debt or no money set aside for emergencies, you may want to hold off a bit. That doesn’t mean you shouldn’t contribute to your retirement plan at all. Maintaining contributions is important, even if it means not maxing it out. Still, if you wait too long to save, you’ll have to play catch-up. Listen now and subscribe: Apple Podcasts | Spotify | RSS Feed | SoundStack | All Of Our Podcasts If you save too much, you may have to tap into your account early, which can mean early withdrawal penalties if you are under age 591⁄2. 4. Boost your contributions. If you have enough cash stashed away to cover a large lump sum contribution to your 401(k), you could max out your 401(k) contributions before the end of the year. You can do this by increasing the percentage you contribute monthly from your paycheck. You’ll want to speak with your employer or HR department to see if this is possible and fill out the necessary paperwork. Keep in mind that how often you increase it or even if you can will depend on your plan rules. You may also want to check to be sure your contributions are still automatic. Since it’s usually easier to save money if it’s automatically deducted from your paycheck, it may be worth reviewing your budget to see if you can boost your contribution amount to max out your 401(k). If you haven’t set up automatic payroll contributions, now is a good time to do so. Maxing out your 401(k) has some clear benefits. This is especially true if you’ve fallen behind on your savings goals or you simply want to grow your retirement nest egg faster. The main advantage is that you’ll have more money saved for retirement. According to Northwestern Mutual’s 2024 Planning & Progress Study, most retired Americans believe they will need nearly $1.5 million in the bank to retire comfortably. That’s a 15% increase — which far outpaces the 3% to 5% inflation rate — over 2023 and is up 53% from 2020. The money you put into your 401(k) lowers how much you’ll pay in taxes for the year, which may put you in a lower tax bracket. Also, 401(k) investments grow tax-deferred, so you won't pay taxes on the money until you withdraw the funds in retirement. If you have a Roth 401(k), you don't get a tax break on contributions because you fund your account with after-tax dollars. But the money you contribute grows tax-free and you won’t pay any taxes on your withdrawals in retirement. Maxing out your 410(k) each year may not be enough to retire comfortably, but it is a great start. That’s why enlisting the help of a financial adviser in 2024 can help you get a head start on 2025 and a happy retirement down the road.