Behind on Retirement Savings? 4 Ways to Catch Up in 2026

Saving a regular amount for retirement might sound easy at first, but then the cost of living rises, and you have a few unplanned expenses. Before you know it, you're way behind where you wanted to be.

You're definitely not the only person this has happened to. The typical American only has $87,000 saved for retirement, according to The Motley Fool's research on average retirement savings. Even many in their 50s and 60s have less than $200,000 set aside.

The best time to correct this issue is as soon as you notice your original retirement plan going off track. Here are four things you can try to get yourself back on course in 2026.

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1. Try to negotiate a raise

Many workers spend most or all of their income on their current living expenses, leaving little left over for retirement savings. Changing this usually requires reducing costs today or increasing your income.

Now may be a good time to negotiate a raise, as Jan. 1 marks the start of a new fiscal year for many companies. This means they have a new budget to work with and may be able to better accommodate your request.

If you'd like to give it a try, make sure you have clear examples of what you've done to help the company as evidence of why you deserve higher pay. Then, put at least a portion of any raise you receive toward your retirement savings.

You could also look outside of your current employer to see if there are other companies offering better pay for the work you do. The beginning of the year is a popular time for hiring, so you may find new opportunities that might not be available later in the year.

2. Save tax refunds and year-end bonuses

You may be able to partially offset smaller paycheck deferrals through larger, one-time retirement account contributions. This could work for you if you expect a tax refund or a year-end bonus.

You cannot make one-time contributions to your 401(k), though. So you may need to open an IRA to hold these funds. You can contribute up to $7,500 to an IRA in 2026 if you're under 50, which should be enough for most people.

3. Make catch-up contributions if you can

Workers 50 and older are eligible to make catch-up contributions to their 401(k)s and IRAs. These are additional contributions they can make above the standard contribution limit for adults under 50. This could be your best option if you have cash to spare.

In 2026, workers 50 and up can save up to $8,600 in an IRA. For 401(k)s, those aged 50 to 59 and 64 and older may save up to $32,500 next year. Those aged 60 to 63 at the end of 2026 can save up to $35,750. By contrast, workers under 50 can only save up to $24,500 in their 401(k)s next year.

4. Consider delaying retirement

Delaying retirement might not be something you want to do. However, if you're unable to increase your savings rate, it may be the best option available to you. You'll be able to keep your savings invested for longer, and you'll have more time to add to your retirement accounts. Delaying retirement can also reduce the number of years of living expenses you need to cover.

How long you'll have to delay will depend on how far off your planned savings goal you are. You may only need to postpone your retirement by a few months. Others may need to work for a few additional years to get the cash they need.

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