Saving for retirement sounds daunting, but finding the money might be easier than you think. Itís important to remember that even small contributions can add up to big savings over time thanks to compound interest.

Here are some simple ways to save a few dollars every day – and an idea of how that money can grow over the years.

If Every Day, You
Saved the Cost of...
You'd Contribute...
in
20 Years
You'd Have*
in
30 Years
You'd Have*
in
40 Years
You'd Have*
1 mobile app ($1) $30 per month $13,860 $30,135 $59,745
1 bottled water ($1.50) $45 per month $20,790 $45,200 $89,615
1 specialty coffee ($3.50) $105 per month $48,515 $105,475 $209,105
1 dry-cleaned shirt ($4) $120 per month $55,445 $120,540 $238,980
1 take-out lunch ($7) $210 per month $97,030 $210,950 $418,215
1 short taxi ride ($8) $240 per month $110,890 $241,085 $477,955
*All figures assume a 6% annual rate of return compounded monthly and do not include matching contributions.