If you are currently under the average retirement age, you may think you’ll have enough savings for your golden years, but your numbers might be off. There’s a helpful mind trick to help increase the odds in your favor, and it only requires the use of your imagination. If you want to ensure that you are saving more money for retirement, you need to envision your future and lifestyle expectations.

Beat the average

Many Americans are not well prepared for their retirement years, as they are not saving enough money. The average amount of savings from state to state are nowhere close to 1 million dollars, and land under the $300,000 mark.

Considering that many retirees are expected to live off of their savings for 20 to 30 years, the money is likely to run out quickly, and quality of life will suffer.

Matters of the mind

You can take charge of your future’s financial health by actively imagining how your retirement will look and feel. People who make the time to play out their retirement in their head tend to save a higher percentage of their income, compared to people who stick to a more modest number.

In a study, people who didn’t first envision their retirement thought that saving 15 to 16% of their paycheck was sufficient. Persons who were asked how much of their income should be saved regularly, after imagining their golden years, projected a high rate of about 22%.

Diversify your nest egg

To sustain the quality of life that people currently have in retirement years, you must save about 70% to 80% of your current income. Instead of relying on savings alone, take advantage of all available options to give your retirement income a boost.

Look into investing in stocks, bonds, mutual funds, an IRA, and peer-to-peer lending. Don’t count out the idea of working a part-time job during retirement years, and evaluate how much money you will need in the future to offset inflation.