Small Tricks to Boost Your Retirement Savings

Last week I wrote a post for the U.S. News On Retirement blog about different mind tricks you can use to help your retirement planning.  Three of the tips involved thought strategies that can help us save more by avoiding discretionary purchases and/or by motivating us in very specific ways. For example, setting aside extra cash is a lot easier when that cash is for a “go on a yearly cruise when I retire” fund.

< A common negative thought pattern that impairs retirement saving is the idea that we can only afford to make small changes in our spending and saving and that these small changes aren’t significant.

That’s not the case.

Coincidentally, I learned this week about an online calculator that the New York Times publishes called the “1% More Savings Calculator.”   The calculator has a very specific purpose. Using sliders in your browser, you input your current retirement savings balance and savings rate (based on a percentage of your earned income). The calculator uses those numbers to display a future retirement savings balance over time at your current rate and the balance if you increased your savings rate by 1%. It provides excellent visual feedback of just how powerful a small change in retirement saving can be.

You should check it out and maybe share it with your adult children as well.  Here is the link: The 1% More Savings Calculator.


  1. says

    I think that capitalism has made us zombies. All we can think of is getting more and getting the best thing. However, we can live by getting cheap stuffs. We just need to get rid of that stupid mindset capitalism has taught us.
    Thank you so much for this great post.

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