A lot of people who save for retirement do so steadily and consistently throughout the year. They'll either sign up to have the same amount deducted from their paychecks automatically to land in a 401(k), or they'll set up a series of automatic transfers to an IRA.

But what if you didn't max out your 401(k) or IRA for the year, but you're still hoping to do so? Maybe you were only able to save a certain amount during the year due to inflation, but now have money from holiday gifts or a year-end bonus to allocate to your retirement plan.

In some cases, it may be too late to add more money to your retirement account. But whether that's so will depend on the type of account you have.

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Source Fool.com