This article is for those of you who believe that you'll never have enough saved for retirement and as a result you choose not to think about it. You may think that you'll never be able to save enough money to live a comfortable retirement and have therefore resigned yourself into believing that social security will take care of you. Or, you may feel like you're too old and should have started earlier. Your way of dealing with not saving for retirement is hoping things will work out. Unfortunately, you may be right. Saving what you'll need may be impossible. Maybe you should have started earlier. Who knows? However, I'm pretty sure that starting a retirement savings plan late is better than not starting one at all. You have the ability to change your financial future if you're willing to take a few steps towards your retirement savings plan today. A $500,000* retirement fund can be in your future.

Here's how.

First, ask yourself where can start saving around $300 each month. Let's start with your employer-sponsored retirement account, or for this example a 401(k). If your current annual income is $30,000 consider making a 6% pre-tax contribution of your income into your 401(k). Guess what? 6% of your monthly income equals $150.

You're halfway there.

Now let's suppose your employer offers a dollar-for-dollar match on your contribution up to a maximum of 3%. That means your employer will contribute an additional $75 to your 401(k). Go ahead and take it, it's free money!    

You're already saving a monthly total of $225. Are you convinced that this may be easier than you thought?

So, where can you find an additional $75 each month? The additional $75 will most likely be found after you've performed an assessment of how you spend your money and are honest about those expenses that you could probably do without. Here are a few money saving ideas to get you started.

Be creative when you're looking for ideas to save money. Remember your future financial freedom is at stake.

Drum Roll Please!

Your Total Monthly Savings = $300  

(Congratulations, you did it!)

the IRS website.

But don't stop there. In addition to saving $300 each month towards your retirement, consider saving your current and future tax refund check. Yes, it's exciting to get a great big check once a year from Uncle Sam. However many professionals would argue that waiting on a tax refund actually reinforces bad money management habits. For example, if you usually plan a trip with the refund, try saving money throughout the year in a vacation savings account. Or, if you use the money to pay off debt you've accumulated during the year that probably means you're living beyond your means and it may be a good idea to start being more realistic about what you can and cannot afford.

Let's assume your tax refund is $2,500. If you save your 2012 check and each refund check for the next 30 years and place into an investment account, with an assumed return of 8%, you'll have approximately $83,000 in 30 years.*    

$447,108 + $83,000 = $530,108* 

Cali Pearl is committed to your education as an investor and to helping you develop a better understanding of your relationship with money. Cali Pearl can help you understand your personal financial goals, exposures and investments by means of a financial plan, workshop and/or direct advice.

Cali Pearl Financial Advisor, Sherri Brown, offers her opinion on a variety of financial planning subjects. She is expressing personal and professional opinions and views. Her advice or recommendations should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial advisor and obtain professional advice before exercising any investment decisions or choices based on information featured in this email.