LIVE SHOW REPLAY: What's Changing in Your 401(k) in 2025—and What Does It Mean for You?

Today, we're diving into the nitty-gritty of financial freedom, and spoiler alert: it’s all about breaking free from that pesky financial stress. Our financial evangelist, Ralph Estep Jr., is here to guide us through some serious financial discussions, whether you're eyeing that Secure Act 2.0 and how it impacts retirement savings or pondering the mysterious Form 8606. We're also covering the wild world of side hustles—yes, those little gigs that can help fatten your wallet without taking over your life. So if you're ready to take control of your finances and maybe even laugh a little along the way, stick around. This episode is packed with tips, tricks, and a sprinkle of humor to keep us all motivated on our journeys to financial success-including a deep dive into what's changing in your 401(k) in 2025 and how it could impact your retirement planning.Read today's blog articleCheck out the full podcast episode hereCrushed by debt and stuck in the paycheck-to-paycheck grind? Fear not! Ralph Estep Jr. is here to guide you through the chaos of financial despair with his show, Ask Ralph. Today, Ralph dives deep into retirement planning, especially for those in their 60s, as he unpacks the Secure Act 2.0 and its catch-up contributions. He keeps it light and relatable, reminding us that retirement doesn’t have to mean the end of working; rather, it can be a transition into something even more fulfilling. Plus, he’s got the scoop on Form 8606 — a tax form that can save you from financial headaches down the line. For anyone eyeing a side hustle, Ralph shares some fun ideas that could put extra cash in your pocket without the stress of a second job. Spoiler alert: it involves dogs and focus groups! So, grab a snack, tune in, and let’s get our financial futures on track!Podcast Timestamps:00:00 Episode Overview00:59 Guest Introduction: Dr. Craig Van Slyke and His Podcast AI Goes To College https://aigoestocollege.com/ 01:19 Listener Question #1 Understanding Secure Act 2.0 and Catch-Up Contributions02:33  If You Have A Question You'd Like Answered, Head Over To https://justaskralph.com/02:46 Bible Verse: Proverbs 21:2003:18 Detailed Breakdown of Catch-Up Contributions06:34 Balancing Retirement Savings and Debt09:04 Honoring God with Your Retirement Plans17:23 Listener Question #2: Form 8606 - What You Need to Know18:10 What is Form 8606? 19:35 Who Needs to File Form 8606?20:15 Do You Need to File Form 8606 Every Year You Contribute to a Roth IRA? 22:51 What Happens If You Don’t File Form 8606?30:04 Listener Question #3: Starting a Side Hustle - Tips for Success30:42 Top Side Hustles Requiring No Experience35:01 How to Make a Side Hustle Successful43:46 Treating Side Hustles Like a Business49:10 Mail Bag: Listener’s Testimonials50:17 Share Your Story With Ralph! Email Ralph Directly At [email protected]:25 Visit https://www.askralphpodcast.com/blog/ for Free Financial Resources51:01 Join the Ask Ralph Newsletter http://askralphpodcast.com/newsletter for Daily Encouragement & Financial Tips!52:38 ClosingTakeaways:In today's episode, we dove into how the Secure Act 2.0 will shake things up for retirement savers, especially if you're in your 60s and thinking about the future. We discussed the importance of Form 8606, which tracks non-deductible contributions to IRAs, and why you need to file it if you're making those contributions. If you're looking to boost your income, we shared awesome side hustle ideas, like being a virtual assistant or joining focus groups, which can pay surprisingly well! Ralph emphasized that financial planning is a journey, not a sprint, and it’s crucial to take small, manageable steps towards achieving your financial goals. Links referenced in this episode:Ask Ralph Newsletter for Daily Encouragement & Financial Tips! http://askralphpodcast.com/newsletter Ask Ralph Blog   https://www.askralphpodcast.com/blog/ Support the Show https://askralphpodcast.com/supportAsk Ralph Insiders Community https://mailchi.mp/askralph.com/groupAsk Ralph Show Live https://askralphpodcast.com/liveWhat is your question that you would like to ask Ralph? Send Your Question here: https://justaskralph.com/ Join our email list and get a free copy of "Mastering Your Finances" at https://askralph.com/💛 Join the Financially Confident Christian CommunityIf today’s episode encouraged you, we’d love to invite you to be part of something bigger — the Financially Confident Christian Community.This is where faith and finances come together — a growing family of believers supporting one another, sharing encouragement, and helping spread God’s truth about money.Your membership helps keep the show free for everyone while funding new devotionals, study guides, and outreach resources.👉 Learn more and join the mission at financiallyconfidentchristian.com/joinTogether, we’re helping believers everywhere break the cycle of financial shame and live with confidence in Christ. 🙏Get Ralph's Book on becoming a Financially Confident Christian financiallyconfidentchristian.com/becomingLISTEN NOWWATCH NOW ON YOUTUBE (OUR VIDEO VERSION)WATCH NOW ON RUMBLE (OUR VIDEO VERSION)Please share our Podcast with all your friends and family!Submit your questions or ideas for future shows - email us at [email protected] or leave a voicemail message on our podcast pageLeave A Voicemail Message