Assistant Secretary of Labor Phyllis Borzi wants Americans to make a resolution this year to save more for retirement. In her (Work in Progress) blog, she recommends individuals do the following:
1. Make your job pay. The best way to save for retirement is through an employer-sponsored retirement plan, she said. Take the time to review how much you are contributing and see if you can increase it. A small increase now will mean bigger savings down the road.
4. Make a budget. If you are having trouble saving, take a look at what you earn and how much you spend. Put together a budget plan to help track where your money is going and what you can do to reduce that and save.