With the dawn of 2025 fast approaching, Americans are re-evaluing their financial resolutions against the backdrop of rising inflation and economic uncertainty. A recent survey conducted by Fidelity Investments reveals what many might expect: over 65% of respondents are considering setting financial goals for the new year. This marks a clear pivot from last year's priorities.<\/p>
The 2025 Financial Resolutions Study indicates this year will be one focused on practicality, coinciding with the common practice among many to reassess spending and savings behavior post-holiday season. Among the survey’s notable findings, 79% of participants expressed intentions to build their emergency savings, addressing what many Americans feel to be pressing financial concerns, namely unexpected expenses and inflation's toll on everyday spending.
Top financial concerns listed for 2025 include:
- Unexpected expenses
- Inflation's impact on daily costs and savings
- Economic uncertainty and the looming prospect of recession
This heightened awareness surrounding financial stability has led individuals to redefine their goals. Those who struggled to achieve their financial targets last year cited the importance of setting realistic and achievable goals, often by breaking them down through smaller, manageable milestones. Younger generations, particularly, seem inclined to make financial resolutions, drawn by the belief they will find themselves financially buoyant in the coming year.
Two-thirds of the survey participants expressed optimism about their financial situations improving, driven by aspirations for greater peace of mind and the ideal of living debt-free. The Ohio Department of Commerce’s Division of Financial Institutions also suggests various resolutions to help individuals steer their financial practices, reinforcing the need for strategic budgeting and saving:
- Save more for retirement
- Improve credit scores
- Establish an emergency fund
- Manage debt effectively
- Develop and stick to personal budgets
But as these resolutions take shape, individuals might also explore investment options to secure their future. Entering 2025 means many will want to revisit their investment strategies, particularly concerning Individual Retirement Accounts (IRAS) and Exchange Traded Funds (ETFs).
The best IRA accounts of 2025, as pointed out by experts, include trusted names such as Charles Schwab, Fidelity, and Vanguard, each offering distinct advantages. Charles Schwab boasts commission-free trades and access to financial insights, claiming the title of best overall IRA account. Fidelity's traditional IRAS also rank highly for retirement saving, with $0 account minimums, making it accessible for beginners.
For those seeking personalized investment guidance, the Ellevest IRA stands out for its access to human advisors. Meanwhile, Betterment serves the robo-advisor niche, perfect for tech-savvy and low-maintenance investors. It offers automated management with minimal fees, aligning perfectly with the trend of implementing smaller, achievable financial goals.
“With 2025 at the threshold, individuals are often drawn to the idea of automated systems to streamline their investment process,” says Brian Fry, founder at Safe Landing Financial. “Robo-advisors can help remove the guesswork, allowing users to focus on their bigger picture as they save and invest.”
Goldco, for example, has made headlines as the best Gold IRA, catering to those aiming to diversify their portfolios with precious metals, important for hedging against inflation. These avenues can prove beneficial for those resolving to bolster their financial status.
Alongside traditional savings and investment goals, the renewed interest in ETFs provides additional flexibility for investors. Sector-focused ETFs, such as those offered by Fidelity, deliver the opportunity for tactical rebounds— particularly relevant as market conditions fluctuate. “The flexibility to adjust sector allocations based on market dynamics is key,” reflects Charlotte Geletka, managing partner at Silver Penny Financial Planning.
Fidelity’s ETFs, such as the Fidelity MSCI Information Technology Index ETF (FTEC), have made waves this year, returning impressive figures of over 34% YTD. Investors must be prepared to make strategic moves, reassessing their allocations as sectors pivot and evolve.
Notably, as these resolutions envelop financial planning for the new year, the integration of financial well-being and investment knowledge becomes increasingly significant. Individuals are reminded to safeguard their finance-related information, from enabling two-step verification to being vigilant about personal data management.
Whether focusing on growing retirement savings, improving financial literacy, or simply establishing solid emergency funds, the approach for 2025 showcases the intention to live practically and manage finances effectively. It is clear; the year promises to usher individuals toward informed investing and strategic resolution setting.
While many are already gravitating toward traditional investing vehicles such as IRAS and ETFs, as experts suggest, the diligence exhibited during this period sets the foundation for enduring financial health well beyond the year’s initial months.
