How to save (for) your retirement

Retirement seems scariest before you take the leap, experts say. But there are things workers can do now to prepare and feel less anxious — no matter your age:

The big picture: Take a look at the numbers.

• Make a budget, and figure out what you need. Take everything into account — not just your retirement account, but housing wealth too, if you have it.
• "It's important to step back," says Kerry Hannon, co-author of the recently published book, "Retirement Bites: A Gen X Guide to Securing Your Financial Future."

Save money. It's obvious but worth repeating. Take advantage of those 401(k)s and any kind of employer match. If you're older and need to catch up, increase your contributions if you can.

• "It's really when people get into their 30s that ramping up their retirement contributions makes sense," Andrew Biggs, an economist at the American Enterprise Institute, tells Axios. "Their incomes have risen, so they've got more to save, plus their taxes are higher, so the tax break may be worth more."
• If you don't have a workplace plan, you can set up a plan for yourself. There are options like a SEP-IRA or solo 401(k), says Diane Harris, deputy editor of Kiplinger Personal Finance magazine.
• A key thing to do is automate your contributions, with the money going directly from your paycheck to the account. "Harness the power of inertia," says Harris, who runs the magazine's retirement coverage.

Prioritize paying down high-interest debt. This is especially important for young workers, Biggs says.

• "Lots of research shows debt is the biggest buzzkill for retirees, the big obstacle to happiness," Harris says. "The stress will really get you."

Take care of yourself. Medical expenses are one of the biggest expenses in retirement — get regular checkups, think about nutrition and exercise. "Health is wealth," says Hannon.

Delay. Most experts say to keep working, if you can.

• "For someone who's later in life and hasn't saved enough, delaying retirement is a more powerful tool than saving more," says Biggs, who was principal deputy commissioner of the Social Security Administration in the early 2000s.
• When you continue your job past full retirement age, your Social Security benefit increases by about 7% annually when you do retire. The annual increase stops at age 70. Plus you get a similar increase to your retirement savings courtesy of more contributions and interest, and you reduce the amount you'll need to save.

It's not all about money. Non-financial things matter more for your happiness as you age — health and relationships in particular, says Harris.

• "People make do, and the vast majority of retirees report being pretty happy. People are more resilient than they give themselves credit for."