As Americans, we can take pride in the many things we do well. But there’s one thing that we could all do better— saving for the future. 

If you are already saving for your retirement through your employer-sponsored savings plan, each contribution you make brings you closer to your retirement goal. But are you saving as much as you can? 

Given the uncertainty surrounding the Social Security system, maybe it’s time to rethink your own saving habits. 

1. Apply a raise or bonus to retirement savings. Boosting your contribution rate with each increase in pay you receive to move you closer to the maximum contribution allowed by your employer—$18,500 to a 401(k) plan (workers age 50 and older may add an additional $6,000 in catch-up contributions, subject to plan limits). 
2. Cut back household expenses. Small savings can add up. Set up a monthly budget of income and expenses to help you find ways to cut back more. 
3. Forgo a tax refund. If you typically get a tax refund, consider revising your W-4 form to reduce your withholding. Your paycheck will grow, allowing you to increase the amount you save in your employer’s retirement plan. 

It really doesn’t matter how you save. The important thing is to build your retirement account in ways that work for you.

The team at Kirtland Financial Services is ready to help you put together a retirement plan that works for you. And your initial consultation is absolutely free!