Small savings add up. Even increasing the amount of money you save and invest by a tiny percentage can result in huge gains, if you do it on a consistent basis.
But don't take our word for it. Personal finance site NerdWallet crunched the numbers to determine just how much you could save if you upped your retirement savings by even one percentage point a year.
The chart below assumes a 6 percent annual investment return and that you start investing at age 22 and go through age 67. It also assumes your savings rate starts at 6 percent and grows one percentage point annually until a maximum of 20 percent.
The gains are impressive: