1. Establish goals. Gebhart made the couple write down their goals. They also want to have money set aside to care for their parents if necessary. Monitor spending for at least three months, said Gebhart, who guarantees people will be surprised where they could cut back. Of course not,'' Gebhart said.
Many employers provide preretirement seminars.
They should be attending those,'' said Tacchino, who also holds retirement seminars. Pay yourself first. Someone who wants to catch up is really going to have to save a lot,'' said Ray Forgue, associate professor of family studies at the University of Kentucky. Forgue also suggested the Web as a resource for figuring out how much money you'll need to save every month for retirement or any financial goals. Figuring out where your money goes and your net worth might also inspire you to save more and trim expenses, he said.