retirement

3 lame excuses for not saving for retirement and how to overcome them

Excuse: 'I'm too broke to save'
Excuse: 'I'm too broke to save' | Geber86/Getty Images

Excuse: 'I'm too broke to save'

Bills, bills, bills. Between student loans, credit card debt and the cost of living, your financial life may feel overwhelming. Is there ever enough money? Most people have the same tug-of-war between present needs and (very distant) future goals.

"Competing financial priorities make it difficult for people to set money aside," says Sam Friedman, insurance research leader of Deloitte Center for Financial Services. Common demands are paying a mortgage, building a college fund, paying medical bills or coping with a job loss. All can make it harder for people to put money aside.

If you're one of the approximately 50% of Americans without a workplace retirement plan, that can make it a bit more challenging to save for the future.

A few techniques and apps can make it easier to build up retirement reserves -- no strict budget needed.

Check out a savings calculator to see how interest builds up over time.

RATE SEARCH: Find high-rate IRA money market accounts today.

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