7 Tips to Elevate Retirement Savings in Q3
July 14, 2025
We’re halfway through 2025, which means now may be the ideal time to check in on retirement savings in Q3.
Are you on track to meet your savings goals?
Recent news reports suggest that Americans are continuing to contribute even though their personal 401(k) savings may have experienced a market loss.
According to CNBC, “The average 401(k) balance fell 3% in the first quarter of 2025 to $127,100, according to a new report by Fidelity Investments. […] The average individual retirement account balance also sank 4% from the previous quarter to $121,983.”¹
Given the market volatility, this isn’t unexpected.
But there is good news!
Reports show, “The average 401(k) contribution rate, including employer and employee contributions, increased to 14.3%, just shy of Fidelity’s suggested savings rate of 15%.”²
This shows that many savers are focusing on long-term retirement goals and continuing to contribute rather than giving up during tough times.
Is this true in your case?
Whether you have stayed consistent or struggled in 2025, you still have half a year to get back on track.
Continue reading for 7 tips to help elevate retirement savings in Q3 and the rest of the year.
#1 Review Your Goals and Adjust Accordingly
If you hope to boost retirement savings in Q3, you should start by reviewing your financial goals.
Mid-year is typically the perfect time to see if you are on track to meet your financial goals for the year.
Did you plan to contribute more to your 401(k) in 2025? Have you done so?
If you haven’t yet, be honest with yourself about why.
Were you planning to commit to a side gig but haven’t yet?
Don’t give up on this idea of bringing in a little extra to meet your retirement goals.
There is still time in 2025.
As you review your goals, make sure you adjust as necessary.
For example, if you discover you are behind on your contributions, revise your budget to allocate retirement savings accordingly.
#2 Create or Revise a Retirement Plan
If you don’t have a retirement plan in place, we recommend now is the time to create one.
If you do have a retirement plan, mid-year is typically a wise time to make revisions.
We believe retirement is not something that will just happen – you must plan for it.
You must think carefully about your retirement needs.
Consider where you’ll live, the age you plan to retire, and how much income you’ll need in retirement.
If you don’t make a retirement plan, you may find yourself in the same spot as many elderly Americans are today – relying on family members to take care of them or having to forgo essential needs.
Kelly LaVigne, VP of consumer insights at Allianz Life, explains, “If you don’t know how you will draw from your retirement assets for income, then you aren’t ready to retire. […] So much of retirement preparation focuses on accumulating assets – and that’s important – but it is critical to understand how those assets will be able to fund your life after you retire. To do that, you need to make important decisions like when to start claiming Social Security and examine what resources you have to fund your retirement.”³
If you find the process of creating a retirement plan overwhelming, seek help from a financial advisor.
[Read More: Americans Lack Plans for Retirement Income (New Study)]
#3 Raise Your Contribution Percentage for the Rest of the Year
As reports have shown, many Americans stuck to their 401(k) contributions through the tough first half of the year.
Sharon Brovelli, President of Workplace Investing at Fidelity Investments, explains, “Although the first quarter of 2025 posed challenges for retirement savers, it’s encouraging to see people take a continuous savings approach which focuses on their long-term retirement goals. This approach will help individuals weather any type of market turmoil and stay on track to reach their retirement goals.”⁴
This is excellent.
If you have consistently contributed to a 401(k), bravo!
Don’t just keep up the hard work – elevate it.
See if you can raise your retirement savings by 1% – 3% for the rest of the year.
Every little bit today can add up to a better future.
#4 Contribute to an IRA
Having both a 401(k) and an IRA allows you to take advantage of both types of retirement savings programs.
If you do have an IRA, how much more do you need to contribute to max it out before the end of the year?
If you aren’t on track, what do you need to do between now and December to get there?
Note – You technically have until Tax Day of the following year (April 15, 2026) to contribute, but why wait?
#5 Learn More about Your 401(k) Plan
Midway through 2025 is a good time to get serious about your 401(k) plan.
Read your 401(k) statement and see where you stand currently.
Opening and reviewing your statements may help you determine whether or not you’re on track to meet your financial goals.
See a breakdown of statement images, graphs, and explanations in How to Read a 401(k) Statement and Understand It.
Ask questions about things you don’t understand, such as your vesting schedule, employee match, and plan fees.
If you can’t find the information you need, ask your plan representative or the Human Resources department.
Staying engaged can make a significant impact on your retirement savings overall.
According to Empower’s second annual research study, Empowering America’s Financial Journey — How People Save, Invest and Get Advice, “Engaged participant savings rates are 56 percent higher than rates for unengaged participants. They are also more likely to take full advantage of their plan’s employer match.”⁵
#6 Rebalance Your 401(k)
We recommend rebalancing a 401(k) regularly throughout the year.
Rebalancing your 401(k) statements simply means allocating assets differently.
For example, your 50/50 stocks and bonds may need to shift to 72% stocks and 28% bonds to stay inline with your retirement goals and risk tolerance.
When you review your 401(K), ask yourself if the investments you have are working for you.
Rebalancing today may help protect you from losses and give opportunities to boost your 401(k).
[Read More: One Move That May Improve Your 401(k) Returns in 2025]
#7 Get More out of Your 401(k) with 401(k) Maneuver’s Help
One of the best tips for elevating retirement savings in Q3 – specifically your 401(k) – is to have 401(k) Maneuver help you grow your 401(k) savings.
401(k) Maneuver provides independent, professional account management to help employees, just like you, grow and protect their 401(k) accounts.
Our goal is to increase your account performance over time, manage downside risk to minimize losses, and reduce fees that are hurting your retirement account performance.
With 401(k) Maneuver, you can go about your life doing what you love with confidence, knowing we are managing your 401(k) for you.
Have questions or concerns about your 401(k) performance? Book a complimentary 15-minute 401(k) Strategy Session with one of our advisors.
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Sources
- https://www.cnbc.com/2025/06/04/average-401k-balances-fall-due-to-market-volatility-fidelity-says.html
- https://www.cnbc.com/2025/06/04/average-401k-balances-fall-due-to-market-volatility-fidelity-says.html
- https://www.allianzlife.com/about/newsroom/2024-Press-Releases/Americans-Lack-Plans-for-Retirement-Income
- https://www.fidelity.com/about-fidelity/Q1-2025-retirement-analysis
- https://www.empower.com/press-center/empowering-americas-financial-journey-2022
