How to save for retirement

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GREENSBORO, N.C. -- The idea of saving for retirement sounds great, but actually doing it, for many families, is an entirely different story altogether.

"The cost of living is so expensive, between my husband and I, we have four jobs," said mom of three Elaine Grimes. "Paying our bills, sending one son to college, it's just near impossible. It's really, really hard."

They're not alone. According to a recent survey, Edward Jones found that nearly half of all adults aren't saving for retirement at all.

"What happens is, anxiety goes up, health becomes a problem, they get worried and that's when arguing breaks out in families," says HMC Partners' Vice-President and Financial Planner John Hardy.

Hardy says there are four non-negotiables that are essential for building your family's nest egg.

"First, if your company has a 401K, match it, pronto. That's free money. Then, pay yourself, no matter what. Even if it's $100 a month, do that. That's $1200 a year. Then, the next year, save more. Then, budget. Actually sit down and make one. Factor in everything. Finally, and this is the toughest part, stick to that budget and live within your means. It takes discipline, but you have to do it."

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