A recent study done by the University of California, Irvine found that people who had established a savings plan accumulated between 28% and 85% more than those who didn’t have a plan. To achieve wealth, or  in other words, to have more than enough for retirement, there are a few important basics that can establish the foundation you need to achieve your financial goals.

1.  Know Your Number
That is, know how much money you need in retirement. There are several online calculators that can help with that or better yet, find a planning professional who can help you find an even more accurate number.  

2.  Where to Save
Once you know how much you need to save, determine where you are going to save. The best place to start is in your 401k or similar retirement savings plan.  These plans offer options and benefits that will help boost your savings that you can’t find anywhere else.

3.  Track Your Progress
Making sure you are staying on track with where you want to be can be a great motivator to stay the course.  You should track both quarterly and annually.  

4.  Play Catch-Up
If you fall behind in saving, find a way to catch-up. Figure out how much you would have saved had you continued at your previous rate, and try to reach that. If you borrowed from your savings for any reason, pay yourself back as quickly as possible.

5.  Bump it Up
Many people forget that you should adjust the amount you are putting back for retirement if you receive a pay increase.