This weekend most of the nation will move their clocks forward one hour to adjust for daylight savings time; what we call "spring forward". I would like to suggest that you use this as a reminder to spring forward your 401(k) contributions and increase the amount you are contributing. When was the last time you increased the percentage that you are contributing to your 401(k)? Work retirement plans like 401(k)s are usually set up so your contribution is taken as a percentage of your salary. For example, if you make $50,000 and elected to contribute 5% to your 401(k) plan, your contributions will add up to $2,500 per year. A contribution increase would mean you decide to contribute a larger percentage of your income.
Because most companies do not offer pensions anymore and you cannot rely on Social Security to provide a major portion of your retirement income, more of the responsibility of providing yourself a retirement income falls on you. Most workers need to increase the amount they contribute to their 401(k) plan over time in order to reach their retirement goals. Many workers contribute a small percentage of salary early in their career when they have a smaller salary. But as their career progresses and their salary increases, they can afford to make larger contributions.