Just because it’s mid-January doesn’t mean you can’t still make a New Year’s resolution!  Here are some tips for those who are looking into retirement planning.

1. Look for a high yield savings account.

A high-yield or high-interest savings account is one that pays a higher interest rate than regular accounts.  It may come with some special requirements or a higher minimum deposit compared to a standard checking account, but if you are saving for retirement, it is worth it, especially when you factor inflation into your retirement savings.  With a high yield savings account, your savings can grow as inflation rises, protecting you into retirement.

Need help finding a high yield savings account?  Check out this comparison of the best savings accounts from Nerdwallet.

2. Find a job that offers an employer-sponsored retirement plan or 401(k).

Some employers offer matching funds on what you invest.  Look into your current employer’s policy and see what you have to work with.  You may consider making a strategic career move to an employer who offers a generous retirement package.

If your employer does not offer a retirement plan, you can take advantage of myRA, a service developed by the US Department of the Treasury.  The service was created for people who don’t have a retirement savings plan through their employer.  There is no risk of losing your money, and the interest rate is about 2% – meaning that if you save $1000, after one year you will make $20 in interest.

3. Social Security is part of your retirement, too.

Don’t forget about Social Security!  This part of your retirement fund is part of the taxes you pay while you work.  You can estimate your future retirement benefits and check your earnings record with a mySocialSecurity account.  If you haven’t already signed up for the service, here’s why you should.

Joni Beth Bailey is a Southern Illinois Social Security Disability representative.