Saving more for retirement is a common New Year’s resolution. But it takes more than tucking away a few dollars when you can to build retirement security. Here’s how to make a better retirement resolution you can stick to throughout the new year.
Make a specific plan. Aiming to save more this year isn’t enough. “Don’t just say this is the year that you’ll start to save,” says Hal Hershfield, an assistant professor of marketing at UCLA’s Anderson School of Management. “Rather, set up a specific plan. For example, when I get back to work on January 5, I’m going to make an appointment with my human resources manager and figure out how to start contributing or contribute more to my retirement account.”