I just got hired for my first job out of college. How should I start saving for retirement?

Even on a tight budget, you have ways to maximize your savings so you don’t come up short later on. One of the best things you can do is set up automatic contributions, says Filip Telibasa, a certified financial planner and founder of Benzina Wealth.

“With an IRA, schedule auto transfers from your bank account for the day after your paycheck hits and set up automatic investing in the IRA,” says Telibasa. “Now the whole process is automated, which is the key to staying disciplined over the long run.”

Unlike a 401(k), you open an IRA on your own without your employer. That might sound intimidating, but several top-rated online brokers like Fidelity and Charles Schwab let you set up retirement accounts with $0 minimums in a matter of minutes.

With a Roth IRA (or any Roth account), you contribute after-tax dollars — so you don’t get an immediate tax break when you file taxes, like you would with a traditional IRA. However, your money still grows tax-free within the account, and withdrawals in retirement are also tax-free. Plus, you can withdraw your contributions from the account tax-free before retirement so long as you’ve had the account for at least five years.

That’s why experts like Joseph Boughan, a certified financial planner and managing member at Parkmount Financial Partners in Boston, tend to recommend a Roth IRA instead of a traditional IRA for younger clients.

“With Roths, you’re paying taxes now, while your income and tax rate are likely lower,” says Boughan. “For most people, it’s about thinking big picture: Would you rather pay a little tax now or a lot more later?”

Boughan also points out that current tax rates are historically low, offering investors a “sale on taxes” when they opt for a Roth.

“It’s an opportunity you may not want to waste,” he says.

The contribution limits for Roth IRAs are the same as traditional IRAs, and you can even split contributions between the two types of accounts to give yourself some tax diversification down the road. Just make sure your combined contributions don’t exceed the annual limit.

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The power of compound returns is a beautiful thing. Compound returns are generated when an investment earns returns not only on the initial principal but also on the accumulated interest or profits — and it can significantly boost your wealth.

But compounding needs time to work its magic, says Said Israilov, a certified financial planner and founder of Israilov Financial in San Francisco, California.

“As a young worker, time is your greatest asset,” says Israilov. “By dollar-cost averaging into your retirement account over time, you can take advantage of compound growth, so don’t underestimate the power of those small, consistent contributions.”

If you’re enrolled in your workplace 401(k), you’re already practicing dollar-cost averaging. It simply means you’re making regular contributions on a set schedule.

In other words, you’re not panic-selling when bad news hits Wall Street, and you’re not buying overpriced shares after getting a hot tip from your buddy. Whether the market is up or down, you’re buying mutual funds or target-date funds in your portfolio no matter what.

And by saving early, you give yourself a longer runway for your investments to ramp up and take off. In fact, if you make saving and investing a priority in your 20s and early 30s, you won’t need to contribute as much to your accounts later in life.

To illustrate this, here’s how much you’d need to save per month to get to $1 million by age 67, assuming an 8 percent return on your investments:

• If you start at age 22: Save $218 per month

• If you start at age 30: Save $413 per month

• If you start at age 35: Save $625 per month

• If you start at age 40: Save $955 per month

A common rule of thumb is to save about 15 percent of your income for retirement, including any employer matches. But if that feels too daunting, start with a smaller percentage and work your way up.

Here’s how that might look:

• Start by contributing 5 percent of your income.

• Increase your contributions 1 percent each year or whenever you get a raise.

• Try to hit the 15 percent target by your late 20s or early 30s.

However, there isn’t a one-size-fits-all playbook when it comes to how much you need to save for retirement. That number is influenced by numerous factors, from your anticipated life expectancy to when you plan to stop working and start collecting Social Security. Some people need to save more, others can save less. It really comes down to your specific situation. Just remember, anything you save now is better than nothing.

Tools, like Bankrate’s retirement calculator, can help you get a better idea of how much money you’ll need to save now in order to afford the life you want in the future.

You probably don’t need a full-time financial advisor in your 20s, but setting up a one-hour meeting with one can be a great investment.

You’re likely going to have a lot of financial questions in your 20s. Are you saving enough? How should you balance saving for a house and saving for retirement? Did you pick the right investments?

A financial advisor can help answer all of these questions, as well as guide you as you define and prioritize your financial goals.

“If you speak to an advisor when you’re young, you’ll develop good habits early on,” says Telibasa. “This lets you use time and compounding to your advantage.”

A financial advisor that’s a fiduciary is required by law to put your interests ahead of their own. They don’t receive commissions from a company if they push you into pricey investments that don’t fit your needs. That avoids conflicts of interest, ensuring the advice you receive is truly unbiased.

If you’re looking for help with financial planning, Bankrate offers a financial advisor matching tool that can connect you with an advisor in minutes.

Many financial advisors charge between $200 to $350 for a one-hour planning session. If that’s out of your budget, there are low-cost or free tools and resources out there to help you manage your money.

• Robo-advisors: Want to start investing outside your 401(k) but don’t know which investments to pick? Robo-advisors like Betterment or Wealthfront can create an investment portfolio based on your age and risk tolerance, then manage it over time — all at a fraction of the cost of a traditional human financial advisor.

• Money management apps: Apps like Credit Karma and Rocket Money can help you track your spending, saving and investing goals all in one place.

• 401(k) resources: If you’re contributing to your workplace 401(k), you might have access to a suite of free planning tools and calculators on the plan sponsor’s website. Some employers even offer financial planning services as part of their benefits package, so make sure to check and see if that’s an option where you work.

Retirement might be the last thing on your mind after landing your first job after graduation, but saving up now can put you ahead of the pack. After all, small contributions can add up to huge returns over time, thanks to the power of compounding. Use retirement accounts like 401(k)s, IRAs or Roth IRAs to get started, and aim to save at least 15 percent of your income in order to reach your goal.