Max out your employee benefits
"In your 40s, you should at least be saving as much in your 401(k) as your employer matches," Laux says. "Even if you weren't making any profit on that investment, your money doubles just because of the employer match."
Corey says since every employer has a different retirement plan, you should find out how much you can contribute, and maximize your contributions up to that limit.
"Find out how your pretax contribution will impact your cash flow because you may be able to contribute more than you think," Corey says.
People in their 40s can contribute up to $18,000 in a tax-deferred 401(k) in 2015.
"Hopefully, the employer-sponsored retirement plan has someone who can explain the investment options within the plan," Laux says. "In particular, people need to understand why it may be better to be a little more aggressive with their investments at 42 than at 62."