How to maximize your 401(k) contributions

Saving for retirement may seem like a daunting task, but it's proven the sooner you start, the better it ends up.

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Cathy Clauson, a senior vice president at AssetMark, spoke to FOX Business about steps people can take to maximize their 401(k) contributions.

Contribute, no matter how small

"Put a small amount of your paycheck into your 401(k), even if you don't think you can afford it," Clauson said.

Bonus money is just that ... bonus

"Every time you get a raise, put 1 percent more into your 401(k)," Clauson said. "If you get a bonus, work with your HR representative to have a percentage of your bonus also go into your 401(k)."

Clauson said even if you're in your 50s, "every little bit helps."

Don't delay

Clauson said student debt has been a significant contributor as to why people are delaying contributing to their 401(k). Coupled with the cost of housing soaring, many investors don't have much leftover to their paychecks to save for retirement.

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"When you are young, you tend to think retirement savings is something that you can always catch up on," Clauson said. "Employees in their 30s and 40s who are entering their peak earning years put off saving for retirement when they should be maximizing their savings.