4 Ways to Put an Extra $1,000 into Your Retirement Savings by the End of the Year

Key Points

• There's still plenty of time left to make a 2025 retirement contribution.

• Don't forget to claim your 401(k) match if you're eligible for one.

• You can make 2025 IRA contributions until April 15, 2026.

• The $23,760 Social Security bonus most retirees completely overlook ›

You meant to prioritize retirement savings this year, but life got in the way. You had some unplanned expenses. You might've changed jobs. And now the year's nearly three-quarters over, and your retirement account looks pretty much the same as it did in January.

Fortunately, there's still plenty of time to beef up your 2025 retirement contributions. Here are four ways you could add $1,000 more to your savings before we ring in the new year.

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1. Budget for it

The most straightforward way to save another $1,000 by the end of the year is to divide $1,000 by the number of pay periods left in the year. Then, aim to defer that amount of each paycheck until 2026.

This is easiest if you have a 401(k). You may be able to change your deferral amount through an online account or by talking to your HR department. If you're saving in an IRA, you might have to set up an automated funds transfer. Talk to your plan administrator to learn how to do this.

2. Claim your 401(k) match

If you aren't able to save $1,000 on your own by the end of the year, you might be able to get there with the help of your 401(k) match, if you haven't claimed it already. This is extra money employers sometimes give employees for their retirement savings.

Check with your company to learn whether it offers a match and, if so, how its matching formula works. Some companies offer a 100% match, where they contribute $1 for every dollar you contribute, while others have a 50% match. This gives you $0.50 for every $1 you contribute. Both types of matches generally only apply to a certain percentage of your income. For example, you might get a 100% match on up to 3% of your income or a 50% match on up to 6% of your income.

In the best-case scenario, your match could halve the amount you have to save on your own to reach your $1,000 goal. That should be much easier on your budget, especially with the holiday season coming up.

3. Save your year-end bonus

If you receive a year-end bonus from your employer or even just cash gifts from family or friends this holiday season, you could set that aside for retirement. This could reduce the amount you need to defer from your paychecks to reach your $1,000 goal.

It's not possible to make one-time, lump-sum payments to your 401(k), so you may have to stash this money in a traditional or Roth IRA. You have until April 15, 2026, to make 2025 IRA contributions. However, if you wait until 2026 to do this, you may have to contact your IRA administrator to ensure that it correctly applies your contribution to the 2025 tax year.

4. Start a side hustle

Businesses often seek additional help around the holiday season, so this is an option worth considering if you have the time to spare and cannot accommodate extra retirement contributions on your current budget. You could also look into year-round side hustles like food delivery or ridesharing if that's more your style.

If you aren't able to reach your $1,000 goal even after trying these steps, that's OK. Celebrate whatever you are able to save and then start working on your plan for 2026. If you qualify for an employer match, begin saving for it early in the year so you can claim the entire thing by year's end.

The $23,760 Social Security bonus most retirees completely overlook

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