It is a common question. Where should you be putting your money to make the most of your retirement? And, have you left it too late to save up a reasonable amount? When you are planning for your retirement, the earlier you start saving, the better – obviously. However, it is never too late to start putting money aside.

Here are some tips that will make sure that you have a little something saved up.


Yes, the day is today. Saving and arranging finances is something many people ‘will do at the weekend’ or ‘when I have a few spare minutes’. Consider each of those minute or days as money that could have been saved.

The more you can invest before you have many other financial commitments the better off you will be later in life. Of course, most people realise the importance of saving when they already have financial obligations.


There is a saying that goes ‘pay yourself first’, and when it comes to automated savings, that is precisely what happens. There are a few options when it comes to automated savings.

Most banks have also created their own automated savings too. So see what you have available within your personal accounts. Automatic savings often have a similar style. They either round up what you spend and skim the excess into a ‘wallet’ or bank account. For example, when you pay $6.70 for something that extra 0.30 will go to a separate account. Others will use an algorithm to work out how much you can afford to save and automatically move the money into the wallet weekly.

Spend Less

This isn’t a revolutionary tip. But it is one that will work. Take a look at what you spend and where. If you are regularly grabbing a $4 take-out coffee, or a weekly $20 on pizza, then move it from weekly to a monthly treat.

Perhaps you have a lot of subscriptions, if that is the case then look at what you really need and want. If you have a range of streaming services, could you manage with just one? When you go out for the day, are you bringing your own lunch or are you buying lunches at restaurants? Don’t restrict everything, because that will make it a chore. But look at where you could be spending less.


One of the main goals that you should set is to have enough set aside for things like nursing homes, funerals and illness. They commonly eat up a lot of savings as people get older. And while it isn’t nice to think about, it is practical. Researching the best nursing homes (and avoiding those involved in the genesis lawsuit) ahead of time will give you an idea of costs. Then think about things that you want to do, like that trip to Iceland to see the northern lights in an igloo.

Extra Cash?

When you find you have extra cash, one of the first things people do is treat themselves to something. Instead, think about what that additional cash can do for you further down the line. Try to dedicate at least half of and extra income to your savings, then treat yourself to something small.