First, stop sizing up other people’s nest eggs. You might think peer pressure will motivate you to save more, but a study in The Journal of Finance found the opposite is true. Kick your savings into high gear by increasing contributions to your employer-sponsored retirement plan (if you have access to one) and your IRA. Starting at age 50, you can stash an extra $6,000 a year in catch-up contributions in a 401(k), plus an extra $1,000 in an IRA, for a total annual savings of $31,000 across both accounts. Automatic contributions are the best way to turn good intentions into actual savings, says Godwin. And if your kids haven’t left home yet, know that your retirement savings may rise by up to 1 percent once they do, according to a study by the Center for Retirement Research at Boston College. Downsizing to a house with cheaper upkeep, lower taxes, and a pint-size mortgage could free up money to invest.