No matter how old you are, saving for retirement should be a top priority. While knowing how much you will need to live a comfortable retirement and saving to reach that goal is the key, here are some quick tips for saving for retirement during each stage of life.

Saving In Your 20's

  • Save at your workplace. Starting early is one of the best ways to save for retirement. Take advantage of any workplace retirement plans you can and make sure to contribute enough to receive matching contributions. This is one of the few places you will get a 100% return on your “matched” investment. Don’t have a workplace savings account? 

Saving In Your 30's

  • Plan for how much you will need to save with the Ballpark E$timate tool.
  • As your salary increases, consider gradually increasing the percentage you contribute toward your retirement.
  • Consider expanding your retirement portfolio to include at work or outside of work savings options.

Saving In Your 40's

  • Calculate how much you will need to save for retirement. According to the Employee Benefit Research Institute, nearly half of workers age 45 and older have not tried to calculate how much money they will need to save so that they can live comfortably in retirement.
  • Pay off as much debt as possible.
  • Consider increasing retirement contributions.
  • Address any life changes that could impact your retirement plan.

Saving In Your 50's

  • Play Catch Up - Once you turn 50, you can make "catch-up contributions"  - an extra amount, beyond the normal limits, that you can make to tax-deferred retirement plans.
  • Review your accounts to learn when and how you can withdraw money from your accounts, and make sure you are on target with your savings to last your through retirement.
  • Estimate how much you will receive from Social Security and determine the age you should apply for Social Security benefits.

Saving In Your 60's

  • Waiting a few years can add up to greater payouts from Social Security. Decide when you should start receiving social security benefits.
  • Find ways to reduce your spending so that you can live within your means during retirement.

America Saves, managed by the Consumer Federation of America (CFA), is a non-profit research-based social marketing campaign that seeks to motivate, support and encourage low- to moderate-income households to save money and build wealth. Learn more at

This blog is intended to be an informational resource for readers. The views expressed on this blog are those of the bloggers, and not necessarily those of FSB. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. FSB does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog.