There are many free and paid digital tools available to help you track retirement savings and budget for the future. Retirement planning tools vary in complexity, with some offering a simple overview and others providing detailed guidance.

If you're behind the eight ball, acting on some or all of these strategies can put you on sounder financial footing.

Jump reports that retirement planning is increasingly complex due to AI tools and policy changes, leading to confusion and inaction among consumers.

He suggested planning for your retirement should start no later than your 50s or 60s, since you're getting closer to retirement. That's also the time retirees should consider having the hard talk with their children about their retirement.