Just having a retirement savings plan can be enough to make workers feel more confident about retirement planning. But it's important to regularly check in to make sure you're on track.
New research from the Employee Benefit Research Institute found that retirement confidence is rebounding faster among those with a retirement plan. Only 14 percent said they are not at all confident about having enough money for a comfortable retirement, versus 44 percent of those without a plan.
Still, it's best not to set and forget about those automatic contributions from your paycheck. While workers can't control returns, they can take action to make sure they've made the best choices when it comes to diversification, fees and taxation, said certified financial planner Artie Green, founder and principal of Cognizant Wealth Advisors in Palo Alto, Calif.
Investors have been more apt to seek out low-cost funds in recent years, according to a new study from Morningstar. The asset-weighted expense ratio across all funds, including mutual funds and exchange-traded products, was 0.64 percent in 2014, down from 0.76 percent five years ago.
If you haven't already, join the crowd. Compare expense ratios for each investment in a given asset class, said Green. Unless there's a compelling reason to go with the pricier fund, he said, switch to the less-expensive option.