7 Smart Money Moves Fidelity Says Will Make Retirement More Comfortable

Core Insights - The article discusses the financial challenges many Americans face during retirement due to high living expenses and low savings, and offers recommendations from Fidelity to improve financial comfort in retirement [1][2] Group 1: Tax Strategies - The Tax Cuts and Jobs Act significantly increased the standard deduction, leading to nearly 90% of taxpayers opting for it instead of itemizing deductions [3] - The One Big Beautiful Bill Act temporarily increased the state and local tax deduction limit from $10,000 to $40,000, which could provide substantial deductions for qualifying taxpayers [4] - A new senior deduction of $6,000 is available for taxpayers aged 65 and older starting in tax year 2025, with additional deductions for those who are blind or unmarried [5][6]