people say they’re behind on saving for retirement

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62% of people say they’re behind on saving for retirement—Are you one of them, here are 4 ways to catch up

If you’re feeling behind when it comes to saving for retirement, you’re not alone: Most Americans, 62%, say they need to catch up.
1. Put your money to work today
The sooner you start saving and investing, the less you’ll have to save each month to reach your goals, thanks to the power of compound interest.
hat’s assuming a 6% average annual investment return. If you start at 35, on the other hand, you’d have to set aside $30 a day, or $900 a month, to reach seven figures by 67.
One of the simplest ways to get started is to fund your employer-sponsored 401(k) plan. If your company doesn’t offer one, or you’re self-employed, consider other options, like contributing to a traditional or Roth IRA.
2. Automate your contributions
If you automate your retirement savings — meaning, you have a portion of your paycheck sent directly to a retirement account, such as a 401(k), Roth IRA or traditional IRA — you’ll never even see the money you’re setting aside and will learn to live without it.
Once you’ve set up automatic transfers, check to see if you can also set up “auto-increase,” which allows you to choose the percentage you want to increase your contributions by and how often. This way, you won’t forget to up your savings or talk yourself out of setting aside a larger chunk when the time comes.
If you can’t find the feature online, call your retirement plan provider to find out if it’s possible.
3. Take advantage of your company match
This is essentially “free” money. But it’s up to you to take advantage of it.
These programs are pretty straightforward. Typically, your employer will match whatever contribution you put toward your 401(k) up to a certain amount. If you choose to put 5% of your salary directly into your account and your employer matches dollar-for-dollar, then it will put that same amount in as well, in effect doubling your contribution. And whatever money your company contributes doesn’t count towards the IRS contribution limit.
Note that depending on where you work, the match sometimes comes with stipulations. You may have to work at the company for a certain amount of time before it goes into effect, for instance.
4. Increase your income
The more money you bring in, the more you can put toward savings
Next, develop another income stream in addition to your regular job.

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