Ideally, you will get a raise for most of your career, if not annually. Since you are not used to spending that money, an easy way to supplement your nest egg is to transfer that money straight into your retirement plan.
Likewise, you could make extra money at random times. For example, think back to last year and earlier this year when stimulus checks went public three times. Granted, you might have needed this money to cover important bills, but the point is that you could make extra money at various points in time, and putting it into your savings is a smart move.
2. Take advantage of your full employer 401 (k) match
Many employers who offer 401 (k) plans also equalize employee contributions to different degrees. If you contribute enough of your own paychecks to claim your full match, you could end up receiving quite a bit of free cash that will add nicely to your retirement plan’s balance.
Imagine claiming a 401 (k) annual match of $ 2,400 over 20 years. Invest your savings at an average annual return of 8% and you will be sitting on about $ 110,000 from your employer alone.