Retirement tips to get you saving more

Adequately planning for senior retirement can seem like a daunting task. As there is so much to consider, you might feel overwhelmed, and therefore won't prepare like you should.

However, when taken in stride, planning for retirement is simpler than you might think. There are numerous ways to improve a retirement plan – it's just about taking the time to get it all set up. 

Get a retirement plan at work
This is one of the best ways to save for retirement. First, you will need to see whether or not your employer offers a retirement plan. Oftentimes, with these plans, employers will match the money you contribute. Therefore, you should maximize the amount of money you can put into this account because it will be matched with no cost to you. Ever heard of free money? Well this is about as close as it gets. Even when choosing a place to work, it's not a bad idea to inquire about a retirement plan. 

"You need to recognize that many employers are willing to provide a matching contribution," Ric Edelman, CEO and founder of Edelman Financial Services, told USA Today. "If your employer isn't doing that, you owe it to yourself to change jobs."

And where this might not be an option, you can always get an individual retirement account and put money toward that. 

Create a household budget
While this might seem like simplified way to save more for retirement, the fact of the matter is most Americans don't properly plan their finances. Instead of blindly paying bills, draw up a monthly household budget. Seeing how much you make and how much is going toward bills each month will give you a good perspective on where you stand financially, allowing you to not only plan better, but also potentially put more money away for retirement.

Think long term
Preparing for retirement is marathon, not a sprint. You should diversify your portfolio as much as possible, taking a proper amount of risk and not putting all your eggs in one basket. Whether it's stocks, bonds or real estate, finding ways to invest can be a surefire plan to saving more for retirement. 

"If you are terrified of the stock market, you need to invest in it anyway," Edelman said. "A lot of people are terrified to go to the dentist, but they go anyway. Don't let your fears stop you from doing what you need to do."

Pete Blasi