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Take a breath.

We're a little more than halfway through the year, and if you're anything like me, you're probably wondering how on earth we got here so fast. Weren't we just setting those New Year's resolutions? You know, the ones about maxing out your retirement contributions and being super responsible with money?

Yeah... Those resolutions.

But hey, life happens. You get busy, you buy a few too many iced coffees, and before you know it, you're sitting there with your retirement savings looking a little... sparse.

But here's the thing…

It's not too late. You've still got the rest of the year to make up for lost time. And trust me, you can do a lot in a few months. It's all about getting a game plan together, making a few small adjustments, and letting those little actions snowball into something big. Because saving for retirement isn't about doing one massive thing — it's about doing a bunch of little things right.

Here are 10 steps to help you get back on track.

1) Conduct a Mid-Year Financial Checkup

First things first — how much have you saved so far this year? Take a minute to review your retirement account statements and calculate your total contributions. Are you on track to meet your goals?

This is where a lot of people get tripped up. You might think you're doing okay, but a quick review could reveal some gaps in your plan. Maybe you started strong but slowed down as life got busy. No worries. The key is to assess where you are now so you can make adjustments moving forward.

Picture this like a halftime locker room huddle. You've played the first half of the game, and now it's time to regroup and refocus for the second half. What's the strategy? How can you push harder the rest of the year?

Action step: Pull up your retirement account balance and compare it to your year-end goal. If you're behind, don't panic — there's still time to adjust.

2) Understand Contribution Caps for Different Retirement Accounts

Let's talk contribution limits for 2024. The IRS has rules about how much you can contribute to your accounts in a given year. If you're over 50, those limits go up thanks to catch-up contributions (more on that in a minute). They are…

-401(k) account… $23,000 (+ $7,500 if you're over 50)

-IRA account… $7,000 (+ $1,000 if you're over 50)

-457(b) plans… $23,000 (+ $7,500 if you're over 50 + special pre-retirement catch-up period)

Two other common retirement accounts are Simplified Employee Pension (SEP) IRAs, and Savings Incentive Match Plan for Employees (SIMPLE) IRAs, which both fall under the "IRA" category. Similarly, 403(b) accounts fall under the same category as 401(k) accounts.

Here's the thing: Those contribution limits are shared across all accounts under that category of account.

So, let's say you're 35 and you have a traditional IRA, a separate Roth IRA, and a 401(k) with your employer. Your total combined contributions between your two IRAs can't be more than $7,000 because they're the same type of account. You can, however, still contribute the full $23,000 to your 401(k) because it's a different type of retirement account.

Just remember, if you have multiple retirement accounts that belong to the same category — IRAs, 401(k)s, etc. — keep in mind that the limit is shared across them.

Action step:Check your current contributions to each retirement account. Are you maximizing your contributions without exceeding the limits? If you have room, consider increasing your monthly or annual contributions to hit the cap.

3) Increase Contribution Rates

Small increases can lead to big results. Boosting your contribution rate by just 1% can make a significant difference over time.

Think about this: If you're making $50,000 a year and currently contributing 4% to your 401(k), bumping that up to 5% may feel like nothing in your paycheck. But over the next 20 or 30 years, that tiny increase could turn into tens of thousands of dollars in additional retirement savings.

And if you automate those increases — setting your contributions to go up by 1% every year — you won't even have to think about it. Before you know it, you'll be maxing out your retirement accounts without breaking a sweat.

Action step: Increase your contribution rate today by at least 1%, and set up automatic increases for the future.

4) Take Advantage of Catch-Up Contributions

If you're over 50, congrats! You've unlocked the bonus level of retirement saving — catch-up contributions. These allow you to contribute extra to your 401(k) and IRA. For 2024, that's an additional $7,500 in your 401(k) and $1,000 in your IRA.

Catch-up contributions are a lifesaver for those who might have fallen behind in their earlier years. They give you a chance to catch up (hence the name) and make up for lost time.

Action step:If you're 50 or older, check if you've made catch-up contributions this year. If not, increase your contributions to take full advantage of the higher limits.

5) Maximize Employer Matching Contributions

Employer matching is like free money. If your employer offers to match your 401(k) contributions, make sure you're contributing enough to get the full match. For example, if your employer matches 50% of your contributions up to 5% of your salary, contributing less than 5% means you're leaving money on the table.

A quick story…

Right out of college, I worked with a guy who didn't know what an employer match was — or that our company offered one — until two years into the job. He figured he had tons of time before he needed to start worrying about retirement, so he had opted out of the company's 401(k) policy.

He eventually figured it out over lunch one day when a group of us was betting on whose 401(k) had the best return. (It was me by a mile, but that's a story for another time.) When he asked how I had managed to save so much in just two years, I told him that I always make sure I'm maxing out the employer match… and then had to spend the rest of lunch explaining what that meant and how he could do the same thing.

Still, that's two years of free money he missed out on, all because he wasn't paying attention. Don't be that guy.

Action step:Review your employer's matching policy and make sure you're contributing enough to get the full match.

6) Cut Unnecessary Expenses to Increase Savings

Let's be real: Saving for retirement can feel overwhelming when you're juggling everyday expenses. But a little belt-tightening can free up extra funds to put toward your retirement.

Start by looking at your monthly budget. Are there subscriptions you forgot to cancel? Are you dining out more than you need to? Cutting back on just a few non-essential expenses could open up more room in your budget for retirement contributions.

Action step:Identify at least one expense you can reduce or eliminate and redirect those savings into your retirement account.

7) Automate Future Increases

Have you ever noticed how much easier life gets when you don't have to think about every little decision? That's where automation comes in.

When it comes to retirement savings, automation is your best friend. Many 401(k) plans allow you to set up automatic contribution increases, which means your contributions can go up by a small percentage each year without you lifting a finger. This is one of the easiest ways to steadily boost your savings without feeling the pinch in your paycheck.

Imagine this: Every year, your contributions go up just a little bit — maybe 1% or 2%. You don't notice it right away, but over time, it adds up to a lot more money in your retirement account. And all without the hassle of manually adjusting your contributions.

Think of it as setting your future self up for success. One small tweak today can lead to a much bigger payoff down the road.

Action step: If your retirement plan offers it, set up automatic contribution increases to ensure you're steadily boosting your savings each year.

8) Consider Other Retirement Accounts

401(k)s and IRAs are great, but they're not the only retirement accounts out there. Depending on your situation, you might benefit from looking at alternative options like Roth IRAs, SEP IRAs (if you're self-employed), or even Health Savings Accounts (HSAs), which can double as retirement savings if used strategically.

Take a moment to consider where your money is going. Are you only contributing to a 401(k), or do you have a mix of accounts? Diversifying your retirement portfolio can help you maximize tax benefits and protect against market volatility.

I once heard someone say they were "all in" on their 401(k) and thought that was the only account they needed. But by branching out into a Roth IRA, they were able to set themselves up with more tax-free income in retirement. Sometimes, it's just about knowing what options are out there.

Action step:Evaluate your retirement accounts and consider opening an additional account — like a Roth IRA or an HSA — to diversify your savings.

9) Tax-Deferred vs. Tax-Free Accounts

Here's a fun one — tax strategies.

When it comes to retirement, it's not just about how much you save — it's about where you save. Tax-deferred accounts, like 401(k)s, let you delay paying taxes until you withdraw the money in retirement. Meanwhile, tax-free accounts, like Roth IRAs, let you pay taxes upfront so you can enjoy tax-free withdrawals later.

Which is better? It depends on your situation. If you think you'll be in a lower tax bracket in retirement, tax-deferred accounts might make sense. But if you expect to be in a higher tax bracket, you might prefer to lock in your tax rate now with a Roth IRA.

Think of it like this: It's not just about the money you save — it's about keeping more of it in your pocket when it really counts.

Action step:Assess your current mix of tax-deferred and tax-free accounts. Are you balancing them in a way that will give you flexibility in retirement?

10) Set a Goal and Track Your Progress

At the end of the day, saving for retirement is about more than just hitting arbitrary numbers. It's about making sure you have the money to live the life you want when you're no longer working. That's why setting a clear goal for your retirement savings is so important.

What does your retirement look like? Are you dreaming of traveling the world? Or maybe you just want the peace of mind that comes with financial security. Whatever your vision, knowing how much you need will make the process of saving feel a whole lot more meaningful.

Set benchmarks along the way and track your progress. It's like running a marathon — those mile markers help keep you motivated. And when you hit a savings milestone? Celebrate it! You're one step closer to your dream retirement.

Action step: Set a specific retirement savings goal and break it down into smaller milestones to track your progress.

Small Steps, Big Payoff

Saving for retirement isn't about perfection — it's about progress. Whether you're just starting out or playing catch-up, the steps you take today can make a world of difference tomorrow. So don't stress about where you are now; focus on where you're headed. With these strategies in your back pocket, you've got everything you need to boost your retirement savings and get back on track. Small actions, big results — that's how you win the retirement game.

Now go out there and make the rest of the year count.