3 things to do if you're worried about having too little saved for retirement

With guaranteed pensions a thing of the past for most people, workers must take steps to secure their own retirement. Unfortunately, many people aren't great at that, and there's a very real risk many Americans will reach retirement age with too little money to support themselves.

If you're worried you might be one of them, there are steps you can – and should – take now to shore up your benefits and ensure you'll have more retirement security later. Here they are.

1. Increase your savings rate

It may seem obvious, but the best and most important thing you can do if you're worried that you won't have enough money saved is to simply increase the amount of money you are investing. Of course, this is also easier said than done.

The good thing is that you do not have to make a drastic change to greatly impact your retirement account balance, especially if you have a long time left until you retire. If you increase your savings by just $200 a month -- not an insurmountable amount for most people -- you will end up with almost $400,000 extra in your 401(k), assuming you keep contributing this extra $200 monthly for 30 years and earn a 10% average annual return.

Don’t understand your 401(k)?:You’re not alone, survey shows.

There are a few simple ways to save. You could drop one or two unnecessary memberships and immediately redirect that money to retirement investing. Or you could divert any raises you get right to your investment accounts before you get used to having the money. You can also just slowly inch up your savings. If you're currently contributing 5% of your income to your 401(k), for example, just bump that up to 6%. Then, in a few months, do it again as you get used to having a slightly smaller budget.

Whatever approach you take, the key is to automate your savings. Sign up to have contributions taken right out of your paycheck and put into your 401(k) or arrange for automatic funds transfers to your brokerage account on payday. Making this happen automatically ensures saving is the default and increases the chance you'll stick to your plan.

2. Make sure you have the right investments

It's also really important to make sure you have the right investments and the right mix of assets. You do not want to be invested so conservatively that you don't earn the returns you need. You also don't want to have money in assets that charge you very high fees, such as actively managed mutual funds.

A diversified portfolio that's heavy on stocks while you're young is the key to earning generous returns and really benefiting from compound growth. If you don't know how to pick individual stocks, an S&P 500 index fund is a great option. It tracks the performance of around 500 large U.S. companies. The funds come with very low fees, you get instant diversification, and the fund has produced 10% average annual returns over the long term.

3. Work on boosting your income

Finally, if you're worried about your retirement nest egg, you should seriously consider exploring options for increasing your income. Making more money allows you to save more, and it will increase your Social Security benefit since your retirement checks are based on average income over your working life.

If you take these three steps, you can go a long way toward reducing your worries about the future size of your retirement account balance. You can set yourself up for the security you deserve. It's well worth it.

The Motley Fool has a disclosure policy.

The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY.

The $22,924 Social Security bonus most retirees completely overlook

Offer from the Motley Fool: If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $22,924 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.

View the "Social Security secrets" ›