William Robert “Bill” Cunningham is a retirement income consultant and the founder of Retirement Income Planning Group. At the Lincolnshire, Illinois financial practice he started with his son David, William Robert Cunningham helps women near or in retirement design, implement, and monitor retirement income plans with the goal in ensuring them a worry-free retired life.

According to data from Charles Schwab, a leading financial services provider, a third of Americans estimate they'll require about $1 million to $3 million in savings to retire comfortably. Financial counselors advise people to begin saving for retirement when they're in their twenties, after they complete college and get their first permanent job, as it can take decades of hard work to amass this much money. They recommend this because the sooner someone begins building a retirement nest, the more time the money they put aside has to grow from investment returns and compound interest.

Unfortunately, over 60 percent of working Americans don't begin saving for retirement until their 30s. This leads to many people finding themselves with little time to save enough retirement money to sustain the same quality of living they have while working or provide them with their hoped for retirement. As a result, over 20 percent of Americans say that delaying saving for retirement is one of their biggest financial regrets.