What can I do now to save for retirement?

This chart demonstrates the power of saving money over time. The example starts with a portfolio valued at $450,000 with an annual income of $18,000, which is the result of saving $450 per month for 30 years, returning 6% per year. When you save an extra five years, the portfolio value increases to $640,000 with an annual income of $25,600; save $100 more per month or earn a 1% higher return and that same portfolio increases to $550,000 with an annual income of $22,000 in either case. Source: Edward Jones. This hypothetical example is for illustrative purposes only and does not reflect the performance of a specific investment. Income based on a 4% initial withdrawal rate. Portfolio value rounded to the nearest $5,000.