You may contribute to an employer-sponsored retirement program without giving it much thought. After all, the money you save will be there ten, twenty, or thirty years from now when you retire, right? Guess again. There are no guarantees with investments,and many retirement accounts (whether they realize it or not) have taken a real bath as Wall Street markets compete with Death Valley to achieve the distinction of being the lowest elevation in the United States.

Switching Retirement Account Elections to Save Your...Assets
Try to keep no more than 10% of your retirement money invested in your own company. Anything more is too risky--people who used to get their paychecks from Worldcom or Enron can tell you how it feels to lose not only your job but your entire savings in one shot. Taking that kind of risk is not just putting all your eggs in one basket--it's tossing that basket into a backpack and heading up Everest wearing flip flops and armed with a slingshot.

Ignorance Is Not Bliss: Know How Your Retirement Account Is Invested
If you work for a government agency, you may have a defined benefit retirement pension fund--lucky you! If in the private workplace you may have a defined contribution plan such as a 401(k). These accounts may limit investment options--check with your retirement plan benefits administrator to learn how your plan works. Research the available choices (Morningstar.com and sites like it are helpful) to make sure you're invested in the best options available.

Don't Skip the Free Lunch
401(k) accounts may offer a provision for your employer to match your contributions up to a certain percentage, but as the economy worsens, employers are reducing or eliminating their contributions as part of cost-cutting. If your employer does match retirement savings contributions, make sure that you are contributing enough to gain the maximum amount your employer will match. Otherwise, you are turning down free money.

Be a Bloodhound: Track Down Your Investments
It's essential to know where and how your retirement funds are allocated. As you move closer to retirement. you may want to move some of your stocks and mutual funds into less volatile investments such as bonds or money market deposit accounts (cash). If you have more time to work with you can be more aggressive. Consider than while stocks are low, the same investment buys more! And when prices recover, you'll be there reaping the benefits. Free online retirement calculators can help you allocate your retirement funds according to you age, risk-taking preferences, and goals.

If You're in the Dark, Consult a Financial Advisor
If you're not comfortable choosing or changing investments, it can be worth it to pay a financial advisor (and not one who is selling investments!) for a crash course on how to recover and protect remaining retirement funds. Reading up on basic personal finances can help you learn to make choices for your financial future; taking a course on personal finance can help you learn about investment and savings options so that you can steer your retirement savings away from looming icebergs.