6 Ways To Add $100K to Your Retirement Savings, According to Financial Experts

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Here are somesteps you might take to add that amount to your savings, according to experts.

According to Peterson, the plan needs to be specific and realistic in terms of time.

Taking advantage of employer-matching contributions is another way to boost your savings.

As Gammon noted, employer matching contributions are essentially free money that can significantly increase your retirement savings.

see to it you contribute at least enough to receive the full match.

Automation removes theguesswork and disciplinerequired to consistently save.

Another tip, according to Peterson: Make your savings a bill to be paid in the budget.

Choose a percent of your income you might save on a consistent basis, Peterson said.

Even a small increase in your savings rate can make a significant impact over time.

Or it could mean cutting down on the number of streaming services.

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For instance, stocks and mutual funds generally mean growth.

This could include stocks, real estate or even starting your own business, Collins said.

While these investments do carry more risk, they also have the potential for greater gains over time.