Hey,
We’ve made it through the first 7 steps of the Mouni Money Map together. Many of you are working through those, maybe even feeling stuck or revisiting them. Others are finding yourselves in the later steps, ready to look further ahead. Wherever you are, there’s no competition here. Your money path is uniquely yours, and knowing your next step is something to be proud of. Even if you're still on Step 2, continue reading as there is something in here for you too! Just because you’ve built a stable foundation does not mean retirement is “taken care of.” There’s still space to grow, refine, and move with intention. That’s what Step 8 is about: Boost Retirement, adding more wind in your sails, with calm and clarity. |
Why this matters (and why it can feel heavy)
It’s completely normal to feel anxious or even ashamed about not “doing enough” for retirement. I hear this often in my therapy work. Maybe a part of you worries: Will I become a burden? Will I regret not starting sooner? Those are real, human questions. And while it’s true that you could have started earlier, it’s just as true that you’re starting now, and that matters more than anything. There will always be someone farther along on their journey, but that doesn’t make your progress any less meaningful.
From a therapeutic lens, this is where money and identity often overlap. Retirement planning isn’t just about math — it’s about meaning. It’s making space for your fears, giving your future self a voice, and showing compassion when the path feels uncertain. Moving forward doesn’t mean pushing yourself harder or criticizing past choices. It means acting from your values — things like dignity, security, and peace — rather than from fear or comparison.
You deserve to move forward and feel steady.
A Note on Comparison
Comparison is one of the most dangerous habits in personal finance. It’s subtle, seductive, and corrosive. It convinces you that your progress isn’t enough, that your effort doesn’t count, that someone else is doing it “right.” But comparison is the silent killer of financial peace — and it thrives in the age of social media, where envy has been rebranded as cute and inspirational. Don’t take the bait.
Even if you’ve made it to the later steps of the Mouni Money Map, comparison can still whisper that you’re behind, that someone else has it easier, or that your achievements are smaller. The people you’re comparing yourself to are often caught in the same trap. There’s always someone wealthier, flashier, or farther ahead. The chase never ends.
I once sat across from a multi-millionaire in my therapy office who told me, “I have everything I ever wanted. My life is perfect on paper. But I’m still depressed. I have no joy.” That moment has stayed with me. It was a reminder that more money doesn’t heal discontent, it just raises the stakes.
Pay attention to the people who have more, and you’ll notice: their possessions haven’t delivered peace. Cars, houses, and vacations can decorate your life, but they can’t define it. True contentment comes when you stop measuring your worth by someone else’s timeline and start finding meaning in your own. The things worth chasing in life never come with a price tag.
Comparison steals clarity. Contentment restores it. Choose contentment — not because it’s easy, but because it’s the only way to build real joy at any step of the journey.
So...What’s new in this step? You may be wondering why this step is separate from Step 7. Contributing to retirement vehicles like a Roth IRA and HSA are vital. To “boost retirement,” we lean more into employer-sponsored retirement plans (401(k), 403(b), 457(b), etc.), because they allow larger contributions and powerful tax advantages. |
2025 contribution limits & rules Let's dive into Step 8 and the power of boosting our investments for retirement. |
The annual employee deferral limit for 401(k), 403(b), and similar plans in 2025 is $23,500.
If you’re age 50 or older, you can add a catch-up contribution of $7,500, bringing your personal max to $31,000.
For people aged 60–63, there’s a “super catch-up” under SECURE 2.0: you may be able to contribute $11,250 as a catch-up amount (instead of $7,500), depending on your plan.
The total limit (employee + employer contributions) is $70,000 for those under 50, and higher with catch-ups.
For Traditional IRA / Roth IRA (combined), the 2025 limit is $7,000 if you’re under 50, or $8,000 if over 50.
These limits are the maximums. You don’t have to hit them all right away but knowing them helps you set realistic goals.
Which path if you don’t have access to an employer plan?
If your workplace doesn’t offer a retirement plan, or you’re self-employed, these strategies can help:
Max out a Traditional IRA or Roth IRA (or both, but within the same limit).
If your income is high and you can’t contribute to a Roth IRA directly, consider a backdoor Roth (i.e., contribute nondeductible to Traditional, then convert).
Explore SEP-IRA, SIMPLE IRA, or solo 401(k) if you have self-employment income.
Continue to use HSAs (if eligible) as a powerful “stealth retirement account.”
If your income is variable, aim for consistency: even small automatic contributions matter.
How much is “enough”?
A common guideline is aiming to save 20–25% of your income toward retirement (on top of your emergency fund, short-term goals, etc.). But that rate is not a rigid rule — your ideal number depends on your age, income, goals, lifestyle, and how aggressively you want to pursue early retirement (if that’s on your radar). You may have noticed a small caveat in the Mouni Money Map with regards to this step: “invest extra for FIRE.” That may be confusing if you’re unfamiliar with the term. FIRE stands for Financial Independence, Retire Early. If you’re drawn to this idea, many people in that community aim for saving 40–50% or more. That path often requires trade-offs now (like cutting spending, side hustles, or delaying “fun” expenses). Aligning this with your values is key. You don’t want to experience burnout. I will be sending a special Guest Edition of Making Cents with Mouni soon where my guest will be sharing his experience in achieving FIRE that will act as a stark contrast to the successful multi-millionaire who sat on the couch in my office experiencing a lack of joy. Stay tuned! Not everyone’s path ends in “leaving Step 8.” You may live in this step for many years — that’s okay. What matters is incremental growth, intentionality, and staying connected to why you’re doing this.
Values-aligned money mindset reminders |
Values first, numbers second. Let your goals (safety, autonomy, creative work, travel, legacy, etc.) guide how much you push.
Progress over perfection. It’s okay if you can’t max out — doing something is better than freezing.
Normalize financial self-care. Taking deep breaths, journaling fears about the future, or talking your money anxiety out with a friend or therapist is part of this work.
Give your future self permission to rest. This is long-term work, not a sprint.
What you can do today (action plan) Here’s a simple roadmap. Choose something that feels doable. |
Check your current retirement accounts
What % of your income are you currently contributing (401k, IRA, etc.)?
Are you hitting employer match and beyond?
What “leftover space” remains before you hit limits?
Decide your stretch goal
Increase from 10% → 12%, or 15% → 18%. Even a 1% increase will reap rewards in the future.
Plan for “catch-up years” if you’re age 50+ in the future.
Set up automatic increases
Automate your contributions to increase 1% annually until you reach your goal.
If your plan allows, allocate new raises or bonus income into retirement.
If no employer plan, open or max out an IRA
Traditional, Roth, SEP (Simplified Employee Pension), or solo 401k — choose the option that fits your situation.
If using a backdoor Roth, read up on rules or get support if it feels confusing.
Schedule a “future self check-in”
6-12 months from now, review your progress and adjust as needed.
I believe in you. This is not about chasing a number. It’s about building a life where your future self feels seen, secure, and appreciated. If you ever feel stuck, overwhelm creeping in, or guilt when you “fall behind,” I hope you pause and remember: your self-worth is not tied to the balance in your retirement account. I’ll be sending that guest edition soon where you will hear from someone who walked the FIRE path and will talk about what worked, what didn’t, and how they kept their values front and center throughout. I hope you’ll learn a lot from it! Forward this to a friend to gain another entry to the $50 Amazon Gift Card + 2 Free Coaching Sessions Giveaway! We're 1 week away! Until next time. Slow progress is still progress. |
Warmly, |
P.S. Some links may be affiliate links, meaning I earn a small commission. No extra cost to you, and I only share what I trust! |
