Auto increase automatically bumps up your retirement contribution percentage at the start of each year, usually by 1%. So if you are contributing 5% of your paycheck this year, next year it goes to 6%, then 7%, and so on, without you having to do a single thing. It sounds small, but the compounding effect over time is massive. That extra 1% each year can translate into tens of thousands of additional dollars in your retirement account by the time you are ready to stop working.

Two big factors are driving record retirement savings. First, more people are opting into auto increase and letting it do the work for them. Second, profit sharing contributions, where employers put a portion of company profits directly into employee retirement accounts, tend to hit in January, giving balances a meaningful boost at the start of the year. If your employer offers profit sharing, make sure you understand how it works and whether you are eligible. It is essentially free money added to your future.

If you have a Fidelity retirement account through your employer, log into NetBenefits and look under the Take Action section. From there you can set up automatic contribution increases so your savings grow on autopilot. Not sure if your plan has this feature? Call your HR department or log into your retirement account portal and search for contribution rate or auto escalation. Most modern 401(k) plans offer it.

You do not have to be a financial expert to build serious retirement wealth. You just have to set up the right systems and let time do the heavy lifting. Auto increase is one of the simplest, most powerful tools available to you, and it costs you nothing to turn it on. One small action today can mean a completely different retirement tomorrow. Go turn it on.