Hundreds of Americans are quickly approaching their retirement age, but unfortunately, they have nothing to show in terms of their retirement plans. A survey by the National Institute on Retirement Security a majority of retirement households have as little as $12,000 in their savings. Which means almost everyone is behind in their retirement savings.

But don’t worry. There mechanisms to help you catch up on your retirement savings

Hey! Don’t be nervous if you are already 50, and suddenly you realize that you have nothing to show. Life is moving fast, yes, but it is never too late for a willing heart. The sooner you start building a nest around your retirement savings, the better.

Take full advantage of your 401(k) plan

The fact that this is an employer-employee equal contribution should help you scale you your retirement savings. Assuming you are 40 years old, the more you are funding your 401(k) account, the more powerful it will become by the time you are putting down your tools of work.

Reevaluate your expenditures and make adjustments to your budget

Every month, you in a substantial amount of money to different items with little or no care of whether or not you need all of them at that moment. How about if you separate the discretionary items from those that can do without? Don’t you realize how much more you would save?

Increase your income

This means either working extra hours or taking a side gig from your regular job. Both of them would give you an extra income of as much or as little as $1,000 per month. Either way, this is a surplus income, which can be used to build up your retirement savings. Besides, more often than not, money from side gigs is not subjected to tax.

You must make hard or uncomfortable choices

If you are willing to save, you must also be willing to make hard choices. According to Garcia, a financial planner, “Most people don’t start seriously saving until their kids are out of college. Until then, retirement doesn’t seem real.” Make a plan; don’t be too rigid and don’t accommodate too much risk.