Retirement is the time to enjoy the fruits of your labor, though it depends on when you begin saving to enjoy your golden years.  No matter how old you are, its never too late to prepare for retirement.  Here are some tips on how you to secure your retirement nest egg, and ease into your golden years:

1. Start saving early.

Unfortunately, many people have to postpone their retirement because they procrastinated and dont have enough to retire.  This can be avoided by starting early, making retirement easier to afford when the time comes.  How much to contribute every year will depend on how soon you start saving.  If you cant add the maximum amount recommended for the year, adding what you can afford will go a long way.

2. Catch up as much as you can.

Though it is better to start saving early, its never too late to start at all.  If youre over 50, the tax law allows you to contribute a little extra into your IRAs and 401 (k)-type plans.  So, you can do a little catching up, as you near retirement age.

3. Be wise with your savings and investments.

If your employer has 401k or 403b plans, and you havent been participating, it would be a good idea to begin right away.  Often enough, employers even have a matching contribution feature, which helps you increase your savings and better yet its free money!  Dont let opportunities to increase your savings pass you by, making you lose out on some great benefits.  Be aware of what programs your employer offers and try to contribute the maximum allowed by law.  Remember, the tax savings on your deductions will soften the blow.

Every few years, challenge yourself to save more in your various investments.  As salaries go up, it would be a good idea to contribute more to your retirement funds, if you can.  Try to increase by 1 or 2 percent every few years as your salary increases, and dont stay at the same level; never to increase.

4. Do some retirement planning.

When pulling together a retirement budget, nothing is more important than seeing how much your income can stretch.  First, estimate how much you think youll need to live on retirement.  Youll be able to find some good online calculators that can help you come up with rough figures.  Once you have an idea, calculate how much income you plan to have from sources other than your savings.  Are you expecting Social Security benefits or pension plans?  Then, set income goals to reach the amount youll need to make up the difference between these extra income sources and what you already have.

As we get older, the need for healthcare increases.  More check-ups, preventative care and even long-term care are aspects of life that that needs to be factored in your retirement budget.  Often enough, retirement savings are drained because people fail to plan for healthcare-related expenses.  Shop around when looking for the right plan.  You can reduce your costs by buying what you think you will need beyond what your family could provide in assistance.

5. Get rid of debt.

Getting rid of debt always feels like a painful financial diet.  But adding more debt to the debt you already have will not help you when your paycheck stops and you hit retirement.  Though its easy to say but hard to do get rid of your credit cards.  Cut them up, store them away or burn them until youre out of debt, but do not close your credit cards, since it can hurt your credit score.

Always try to make more than minimum payments.  It may seem to ease the pocketbook in the short run but in the end, youll end up paying significantly more than you originally borrowed.  Once you are out of debt, pay your balance in full every month.  In time, youll be surprised to see how much money it frees up for your retirement savings.

6. Consider a Roth IRA conversion.

The tax benefits of a Roth IRA for many retirement savers are attractive, though it may not be right for everyone.  If you are 59.5 years and have had the account for at least 5 years, Roth IRAs allow tax-free and penalty-free withdrawals of contributions.  Retirees love Roth IRAs since they are able to save more, and withdrawals from earnings during retirement are tax-free.  However, there is a catch: if you are converting from a traditional IRA, you may pay income taxes on those funds.

7. Create additional sources of income.

Often enough, you may not be able to increase your earnings at your day job.  If you feel that you may not be save enough for retirement, why not take on a second job and invest your earnings?  Perhaps you have skills, a talent or hobbies that could be monetized?  Even in these uncertain times, having a secondary income is a good way to provide a cushion, should your primary job be lost.

Also, if making extra money means changing your lifestyle, then do it.  Did you know that you can save over $1000 a year if you quit smoking?  Think about how much you can save by quitting other bad habits too.  Consider relocating downsize your home, not pay for the upgraded car, or jet to exotic locations.  Sock those funds away into your retirement fund, so youll be able to use when you really need it.