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Retirement is a milestone many look forward to but do not want to confront. It is estimated that only 40% of working adults have calculated the income they will need for retirement, according to the Employee Benefit Research Institute. This is an alarmingly low number because without a goal, many could be undercutting their monthly savings they need to be secure. Of course, you can’t predict your future, but you can commit to save yourself from retirement financial disaster.

For many of us, life is all about working hard and spending time with our loved ones. While our days can get carried away with work projects, family events and other chaotic responsibilities of adulthood, one of the best things you can do for yourself is to set aside time and effort to save for your retirement. People are expected to live longer than ever and saving is even more essential. There are numerous opportunities to save that you may already be taking advantage of, but most folks are only saving to be comfortable – are you saving to maximize your golden years?

The most unexpected costs for seniors are medical bills and assisted living. Expensive costs like these means that you may need to rely on more than just Social Security. The Employee Benefit Research Institute found that 70% of retirees rely on personal savings as income, as opposed to Social Security. A misconception of retirement is that you only need to budget to be comfortable, but emergencies and other unexpected costs do not listen to budgets and boundaries. Don’t let those retirement nightmares become your reality.

I encourage you to invest in yourself and take steps to build your own reliable savings. The difference between saving to be comfortable and saving to be confident begins with contributing to your fullest financial potential. There are many ways to save but the best is to maximize the opportunities available to you. Planning for your future may be your most valuable tool. Take the first step to safeguarding your future. There are many online tools, such as retirement calculators, to help you know how to anticipate for retirement. If you are not sure what resources are available to you, check in with a professional financial advisor to ensure you are maximizing your savings. Secure confidence in your retirement – and remember that you can never save too much.

If you are planning to retire in Wyoming, you’ve taken a great first step! Our Cowboy State is consistently named one of the best states to retire in the country. Between the affordable cost of living and the low tax rate, families can spend more of their hard-earned savings on retirement adventures. Even if you are looking to keep up a small workload during retirement, Wyoming is ranked highly for opportunities in the older adult labor market. Wyoming is a good example of how location can play into your budget planning.

Retirement security is an important issue for all Americans, and that’s why I introduced a U.S. Senate resolution declaring Oct. 20-26 as National Retirement Security Week. I have sponsored this resolution since 2015 to capture the importance and raise awareness of personal financial literacy. During this week, take the time to look into retirement saving options available to you and your family. I also teamed up with Governor Mark Gordon to support Wyoming’s own retirement security week by sharing state resources and assistance. The key to a financially healthy retirement is maintaining a reliable savings that you are confident in. Save for the life you worked so hard for before it is too late.