This year, older workers will have chances to save more for retirement, spend less on medicine and see other ways to improve their finances.

Amid the global turmoil of this young new year comes a flurry of welcome developments that will help many people — especially retirees and those close to retirement — supercharge their savings, cut prescription drug costs, keep more of the money they earn and, possibly, raise their credit scores.

Fair warning, though: It’s complicated.

The details of the changes, which are partly tied to the phasing in of provisions from the SECURE 2.0 and Inflation Reduction Act of 2022, can be head spinning. But the payoff — and, in one case, possible penalty — can be substantial.

Here is a roundup of the most important changes to retirement savings plans, Medicare, Social Security and consumer regulations that could affect your finances in 2025.

A Boost for Retirement Savers

For the first time,

Keep reading this article on The New York Times Your Money.