4 Power Moves To Save More For Retirement

&l;p&g;Sometimes saving enough for retirement isn&s;t just a math problem. It&s;s a motivation issue.

While the math is pretty durable -- the more you save, the better off you&s;ll be -- that&s;s not enough for most savers. They&s;ll need that extra nudge.

What motivates savers the most? Simple lessons in how much you can increase your nest egg by doing little or nothing is a start. Here are four big motivators most retirement savers need to know:

&l;img class=&q;dam-image getty size-large wp-image-1127345267&q; src=&q;https://specials-images.forbesimg.com/dam/imageserve/1127345267/960x0.jpg?fit=scale&q; data-height=&q;640&q; data-width=&q;960&q;&g; Getty

&l;strong&g;-- Take the Employer Match Because It&s;s Free Money. &l;/strong&g;Many 401(k) and 403(b) plans offer a matching contribution, but you have to have skin in the game to get the free cash.

&q;Many employers,&q; notes &l;a href=&q;http://planpilot.com/five-ways-to-increase-retirement-plan-participation-among-millennials/&q; target=&q;_blank&q;&g;Planpilot.com&l;/a&g;, &q;will match employee contributions dollar-for-dollar up to a certain percent, doubling the total amount the employee contributes to retirement while generating a deductible business expense. As an alternative, or to encourage an even higher savings rate, employers may opt to stagger the match&a;mdash;for example, offering a 100% match up to three percent and then a 50% match from three to ten percent.&q;

&l;strong&g;-- Know the Silent Superpower of Compound Interest. &l;/strong&g;This is what happens when you leave money in and it grows all by itself over time. It works for everyone and it&s;s simple math.

&q;Someone who puts aside $1,000 per month from age 25 to 35 (at 7% annual return rate) will have more than $1.4 million by age 65, whereas someone who sets aside the same amount from age 45 to 55 will end up with just a hair under $375,000 at age 65,&q; according to Planpilot.com.

&l;strong&g;-- Know that your retirement savings are portable.&l;/strong&g; You&s;ll probably work several jobs in your lifetime. Even if you start investing in a 401(k), all the money is yours. You can roll it over into a new employer&s;s plan, leave it with your old employer or transfer it into an IRA. Just don&s;t pull it out. Leave it in your plan.

&l;strong&g;-- Know the Power of Tax Advantages. &l;/strong&g;If you contribute to a 401(k)-type plan, you&s;ll pay no taxes going in, but your withdrawals are taxed.

Roth IRAs and 401(k)s are the opposite: There are no taxes on withdrawals, but there are &l;a href=&q;http://money.com/money/4258994/traditional-401k-roth-401k-retirement/&q; target=&q;_blank&q;&g;restrictions. &l;/a&g;Health Savings Account contributions are not taxed; withdrawals are not taxed either, as long as you use the proceeds for health-related expenses.

The bottom line is that money knowledge is power. Use it wisely and you can build a great nest egg.&l;/p&g;