1. Start saving now. The sooner you start saving, the more money you will have working for you. Put money away into mutual funds on a monthly basis. Or go for Index funds to be on the safer side.

2. Make retirement your top priority. Your retirement is more important than funding your children\'s education. There are many loans and work programs they can tap. But if you run out of money in retirement, you do not have those options. In fact, you may end up asking for your children\'s support.

3. Your expenses will be at least 90%. The rule of thumb is about 80%, but don\'t count on it. Higher medical costs will surpass inflation, it always has and always will.

4. Work part-time during retirement. You can start a part-time business at about the age of 50 to get ready for when you do retire. This will give you some extra money and most people usually are happier when they keep busy during retirement.

5. Vacation homes are not wise investments. A vacation home is not an investment until you are ready to sell it. All of the expenses will not help you and it depletes your retirement money.

6. Do not take an early retirement. You will be giving up your most productive years, cutting into your retirement kitty. Stopping at the age of 55 or 60 is a non-productive situation, especially if you have the skills of doing something that can keep your mind occupied and income intact.

7. Do not pay down your mortgage. Instead, use that money for investing. You will probably gain more interest investing than you would save paying down your mortgage.

8. Do not count on inheritance. Your parents may have money now, but many things can happen to eat up their savings and your future inheritance. High medical bills, custodial care, or a very long life may mean that you get little or nothing.

9. Buy long term insurance. It may be a stretch to make those premiums, but you will probably live a long time in retirement and need custodial or nursing care. If you do need special care you do not want to use up all of your nest egg.