Want to Save Better for Retirement in 2026? 3 Key Moves to Make Now

Core Insights - The article emphasizes the importance of boosting retirement savings in 2026, especially given the average Social Security benefit for retired workers is just over $2,000 a month, highlighting the need for additional savings to supplement these benefits [2]. Group 1: Budgeting - Budgeting is essential for understanding spending habits and creating room for retirement contributions. Various methods exist for budgeting, including traditional notebooks, spreadsheets, and budgeting apps that sync with bank accounts [4][5]. - Budgeting helps individuals manage their finances effectively, allowing for better planning and increased contributions to retirement plans [7]. Group 2: Automating Contributions - Automating retirement plan contributions, particularly through a 401(k), ensures consistent savings directly from paychecks, which can help maintain a steady contribution rate [5]. - For IRAs, it is recommended to prioritize contributions before other expenses to avoid the common pitfall of spending income first and saving later [6]. - Setting up automatic contributions to an IRA can enhance retirement savings, especially when starting in January and taking advantage of any salary increases [8].