If you're nearing retirement, you're probably checking your accounts

The numbers can be a hard reality check, but don't beat yourself up if you feel ill-prepared for the days ahead

As soon as you hit 50, you can save more money in employer retirement plans such as a 401(k), 403(b), or the Thrift Savings Plan (TSP) for federal workers

The more you contribute, the better your chances of reaching a million dollars during retirement. You'll also get tax benefits when you save in these accounts

You can choose between a traditional or Roth IRA. It all depends on when you want to pay taxes and your earned income for the year

Going along with the same time horizon, you can rack up more than $250,000 in your Roth IRA if you contribute the $7,000 maximum every year

If you want to ease the pressure of saving a ton of money in your employer-sponsored retirement plan each year

If you're willing to do your research and dig up high-potential investment opportunities, you may snag a higher return