Saving for retirement isn't easy, and if you're falling behind, you're not alone. A 2023 report from Vanguard found that the median 401(k) balance among Vanguard participants was just $27,376. Meanwhile, the average worker is expected to need around $1.8 million to retire comfortably, according to a survey from Charles Schwab.

However, many people are stretched thin financially and finding extra cash to save isn't always possible. The good news is that if you have access to a 401(k) plan through your employer, there's a simple hack that can instantly double your savings with next to no effort. Here's how.

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Source Fool.com