The holidays are over: let’s get serious about 2025

Some simple motivation for the new year - whether your retirement is imminent or a few years off.

Jan 12, 2025

The holidays are winding down, and for most of us, Monday marks the return to normal life (maybe you went back last week in some countries). Instead of just reflecting on New Year’s resolutions, let’s challenge ourselves to take practical steps toward improving our financial health this year.

This is when intentions meet reality. Let’s make 2025 the year we stop flying blind with our finances and start taking meaningful action to build the life we want.

Set clear goals for your prime time

If you’re in your 40s, 50s, or 60s, now is the time to focus on achievable financial goals that prepare you for your prime time and retirement years. Retirement doesn’t have to mean giving up work entirely—it can mean shifting to a life where passive income takes the lead, and you have more freedom to choose how you spend your time. Incremental goals will help you build financial confidence and lay the foundation for your future.

Step up your budgeting game

If you don’t have an up-to-date budget, now’s the time to create one. In today’s high-inflation world, revisiting your spending habits is critical. Build a 2025 cost-of-living budget that reflects your current reality. Be intentional—ditch unnecessary expenses and redirect savings toward meaningful goals, such as paying off your mortgage, increasing retirement contributions, or growing your investment portfolio.

Audit your subscriptions and recurring payments

The start of the year is perfect for a deep dive into your recurring expenses. Review your credit card and bank statements: are you paying for services you no longer use? Can you consolidate or find better deals? I recently identified and cancelled three unnecessary subscriptions and consolidated others, saving hundreds annually. Those savings add up and can help fund your future goals.

Get proactive with investments

Your retirement savings and other investments are critical to your financial future. Log into your accounts, monitor your returns, and review the fees you’re paying. Make sure your risk level aligns with your financial goals. Understanding compounding—the way your investments grow over time—is one of the smartest ways to build wealth.

Learn how your retirement savings work

If you’re in your 40s, 50s, or 60s, understanding your retirement savings system is fundamental. Whether it’s superannuation, 401(k)s, or pensions, learn about the tax advantages, contribution limits, and how to maximise returns. Being informed empowers you to make decisions that will pay off for years to come.

Once you’ve built your financial foundation, treat yourself! Set lifestyle goals that fit within your budget and give you something to look forward to. It’s fine to aim for the fun stuff—just make sure your financial house is in order first. Let’s make 2025 the year we take charge and build a life we love.

We’re baack! Wasn’t that a lovely break! This week marks the return of my newspaper columns (in Australia), the Prime Time podcast (also Aussie centric but many episodes have huge international relevance) and this newsletter. I hope you enjoyed the time off as much as I did.

Over the Christmas break I was still pretty busy on other things that needed to get done. I finished the first edit of Prime Time (the book), so the publisher now has a fully edited manuscript headed into layout design. It’s a great experience the second time around. And the full draft of the international edition of How to Have an Epic Retirement is with the publisher too. So it wont be too long.

Over the holidays we gave the whole Epic brand a little glow-up! This is because we’re building up the Epic Retirement Institute this year as a serious provider of retirement education. Watch this space.

And then it was all about family time. And that was magic.

I’m back at my desk - I hope your new year is off to a great start. If you haven’t set your goals yet - you might enjoy my previous newsletter — ‘Guilt free motivation - setting goals for 2025’ which you can read here.

I can’t wait to get your letters when you’re back too. I love them. Please, send them to bec@epicretirement.com.au. or, so I know you’re out there - leave me a comment!