Retirement is one of those things that requires a hefty amount of preparation. If you haven’t already started saving, what are you waiting for? Give your future self a leg up by using the following tips to jumpstart your retirement savings.

Stay the Course

Don’t sacrifice your ultimate goal for things that don’t matter. What does that mean? Don’t get distracted by debt. There are many things we think we ‘need’ but really don’t. A healthy retirement account requires sacrifice. Be prepared to forgo many of the material items that are currently ‘all the rage’. Fancy new electronics, high-end clothing, expensive hobbies (i.e. boating, dirt bikes, etc.), and other unnecessary purchases are just a few ways society will try to sell debt to you. Always keep your long term goals in mind. Small sacrifices today will add up in the end. If you want a fat retirement account, stay the course of thriftiness and make do with what you have.

Live Beneath your Means

There’s no question that a sound financial strategy is to live beneath your means. This is the easiest way to pay off debt and save for retirement. An article written by Scott Spann for explains this further. Spann states, “There is a fine line between living in the moment and planning for the future. It’s okay to reward yourself but remember to do so in moderation and put a hefty chunk of your pay increases or other windfall amounts into retirement savings. It takes a little discipline upfront, but if you never give yourself a raise you can put extra money in your 401(k), IRA, or regular investment account.”

Commit to Saving

One really easy way to increase your savings is to prioritize it. Commit to a specific amount you can afford to set aside from your paychecks. Once you’ve determined what that number is, take it out of your checking account as soon as you get paid. Essentially, you’re paying yourself before you pay for anything else. To streamline the process, you can even automate your savings. Make it super easy for yourself. Set goals. When it’s possible, increase the amount you’re contributing to your savings. This will guarantee that your retirement account will continue to grow.

Seek Help from Professionals

Meet with a financial advisor to discuss your options for retirement savings. You can seek advice on investing or whether or not you should open a Roth IRA. Additionally, talk to your employer about your 401k options. Find out your company policy in terms of matching funds. This will help you decide how to best maximize your retirement contributions.

Saving up enough money to live off of after retirement seems a bit scary. There’s always the fear of not having enough. Ditch the worry and focus on what you can do to prepare. Start saving now in order to give your retired self the best lifestyle possible.

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