“It’s never too late to retire early”

Three easy ways to save more for retirement than what you’re saving today

Three easy ways to save more for retirement than what you’re saving today

Here’s a bit of bad news for you ― retirement will probably cost more money than you think it will.

Many people expect their living expenses to drop drastically once they stop working, but when you stop and think about it, there’s a good chance most of your expenses will stay the same. Some might even increase (think healthcare).

It’s for this reason that you need to approach retirement with a healthy level of savings. If you go in ill-prepared, you might really struggle to cover your expenses once your career comes to an end.

If you’re thinking of falling back on Social Security, don’t. Those benefits will only replace about 40% of your pre-retirement income if you’re an average earner, and most seniors need roughly double that amount to live comfortably.

If you’re already in the habit of setting funds aside for retirement, you’re doing your future self a solid. But if you can also acknowledge that you’re not saving as much as you could be, well, then it’s time to do better. So here are a few painless ways to sneak more money into your retirement plan and boost your savings rate in a meaningful way.

Top Headlines

One of the best ways to get tax-free retirement savings

These states will cost you less than $45,000 a year in retirement

Here’s the top Social Security income at age 62

Is it possible to retire a millionaire using only a 401(k)?

What you need to understand the basics of Social Security

What it means to live a truly rich life and how to achieve it

Gordon Fox is the editor of investinglate.com and writes about Investments, Savings, and how to make the most of your money