Perhaps the market turmoil has you rattled, or you made a New Year's resolution to clean up your finances. Or new projections about rising health-care costs have you jittery about making your savings last.
Whatever your reason, January is an excellent time to take stock of your savings behavior and make sure you are socking away enough for retirement.
While it sounds like a good plan, the fact is, many of us are not doing anything.
Only about 58 percent of workers have access to a workplace retirement plan, and only 49 percent of workers are participating in one, according to research by the Pew Charitable Trusts.
Even when people do save, they are not putting a lot away. To that point, 57 percent of workers in the Employee Benefit Research Institute's 2015 Retirement Confidence Survey who provided this type of information said they had less than $25,000 saved for retirement. And while many respondents estimated what share of their earnings they should be saving, more than 1 in 4 had no idea.