The IRS provides retirement tips for individuals:1. Set a goal: Take a "painless" payroll deduction (Ah, come on. You can) to save money in your 401(k), IRA or savings account. Start small and make it grow.
2. Open a traditional or Roth IRA and save on your taxes.
3. Learn about your employer's retirement plan (if available) by studying the "summary plan description."
4. Review your individual benefit statement from your employer's retirement plan to see if the amount is vested or is fully owned by you.
5. Sign up for 2009 401(k) contributions (up to $22,000 for 50+).
6. If you are 70 1/2 years old, take your required minimum distributions from your qualified retirement plan or IRA by year-end.
7. Review your Social Security statement for:
A. Your personal record of earnings on which you have paid Social Security taxes
B. Your summary of estimated benefits you and your family may receive for retirement and in case you become disabled or die before retirement age
8. Learn about your spouse's retirement plan (if available)
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