20 Ways to Increase Your Savings and Retire Rich

Get a Side Gig

You can boost your income — and funnel that extra cash into retirement savings — by getting a second job, doing freelance work or turning a hobby into a money-making venture.

If your side gig is considered self-employment, you might be able to make contributions to a solo 401k or a Simplified Employee Pension plan. And, those contributions could be tax deductible. You can set up either type of account through an investment firm with low fees, such as Fidelity or Charles Schwab.