It's no secret that retirement planning can seem like a dizzying process. At the same time, however, what it really boils down to is incredibly simple: Spend less than you earn, and invest the difference. Wash, rinse, and repeat.

Two weeks ago, Motley Fool contributor Brian Stoffel offered up a very simple and practical way for just about anyone to retire in under 20 years. The article garnered a lot of positive attention from readers, but many were confused by a chart offered up at the end of the article.

In the following video, watch as Brian explains how by simply saving 5% or 10% more of your salary every year, you could be shaving years off your wait to retirement.  

Key retirement planning tip: Take advantage of this little-known tax "loophole"
Recent tax increases have affected nearly every American taxpayer. But with the right planning, you can take steps to take control of your taxes and potentially even lower your tax bill. In our brand-new special report "The IRS Is Daring You to Make This Investment Now!," you'll learn about the simple strategy to take advantage of a little-known IRS rule. Don't miss out on advice that could help you cut taxes for decades to come. Click here to learn more.

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