Tsvangirayi Mukwazhi, AP
Saving and investing money on a regular basis can be very useful in building up one's retirement fund.

There are plenty of ways to have a nice and big retirement fund by age 65, according to CNNMoney.

People can have a hefty nest egg for their retirement depending on when they start, how much they save and invest, according to article. But the best thing families can do to obtain a large retirement fund is to start saving immediately. The sooner people start saving, the more money they'll have when retirement comes. No matter how far along people are in their career, it's not too late to start saving. But saving sooner means more money later.

People should avoid setting a giant goal of how much money they want to have in their retirement fund. There are many variables to figure out how much money a person or couple will need in the future, according to CNNMoney. Instead of trying to save $1 million, investors can use T. Rowe Price's calculator to figure out the amount they need to save on a regular basis to maintain their current standard of living.

It's also recommended that people should strive to save more than they originally planned. There's no complete certainty in retirement savings. Saving more than planned gives people a cushion in their retirement savings, according to the article. If people are putting 8 percent of their salary into their savings, raising that number to 10 percent will give them an extra buffer.

EMAIL: [email protected]