What follows are the 10 rules you need to know to effectively save for retirement. I will expand on each one as time goes by.

1. Start now

2. Make it automatic (either from your paycheck or checking account)

3. Diversify, Diversify, Diversify

4. Don't be overly conservative in your allocation

5. Don't be overly aggressive in your allocation

6. Consistently increase contributions

7. Tax Diversification - use both pre-tax & post tax accounts (Roth)

8. Don't borrow from your retirement savings

9. Keep overall expense low

10. Avoid products with long surrender periods and high surrender charges

If you follow these ten rules you will have a successful retirement savings plan.

Scott Dauenhauer, CFP, MSFP