62% of Americans say they're behind on saving for retirement—here are 4 ways to catch up. (via CNBCMakeIt)
. That'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 plan. If your company doesn't offer one, or you're self-employed,If you automate your retirement savings — meaning, you have a portion of your paycheck sent directly to a retirement account, such as a 401, 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.
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