If you want to have any sort of comfortable retirement, you need to plan ahead.  Ask any financial advisor what the best thing you can do is, and most will tell you the same thing: Start saving early.  Even if you are 20 years old and not making much, most banks or credit unions will allow you to start an IRA with as little as $1,000.  This sounds like a lot of money, but you need to think of it as if you are moving it from one account to another.  You really are doing this, though, but you won't be seeing this money again until you are around 60. 

Start a pattern of depositing small amounts in regularly.  If you dump huge amounts of money that you really can't afford to part with quite yet in, you will be less-inclined to deposit anymore.  This is why it’s best to start with a dollar or two a week.  You'll be surprised at how fast the interest starts to accumulate over the years.  These tax-deferred accounts are like a gift from the government when it comes to retirement.  Taxes are not due in the interest income until after you withdrawal money from the account.

401K accounts are another wonderful way to save money for retirement.  These are mostly employer-sponsored plans where a business often matches part of the contributions deposited by an employee through a payroll deduction.  These accounts often go into funds controlled by a financial organization, so there is risk involved in terms of investments.  You can opt for the lowest risk funds to be used, but there is a potential for a large amount of gain with the high risk funds.  Many people made a fortune in their 401K accounts when the technology stocks soared in the late nineties, but accounts also tanked when the stock market crumbled in 2008.  Still, these accounts are a great opportunity, mainly due to the employer matching capability of deposits.  Many think of this as "free money."  These accounts can also be rolled into IRA's or other 401K accounts if you leave an employer.

Don't just assume that Social Security checks will get you through retirement.  Social Security, if it is even around when the majority of working citizens nowadays retire, will likely not pay all the bills.  With rising property taxes, health insurance costs, and the overall cost of living, you're likely to need a part-time job in your elderly years if you don't start planning ahead now.