When developing your plan, one of the first things you need to consider is flexibility in your savings. Some savings options include being able to change your main retirement fund and having the ability to decide what you want in your portfolio.
Another option to improve flexibility in your retirement should include the ability to changes the location of your money. Because there are continuous fluctuations in the retirement funds, and not all of the stay where they are, you should be able to move yours when you feel it necessary. Some funds are less risky than others, as well. Since it is possible that the fund you've invested in could have problems, you should have the flexibility to move your investment so somewhere safer.
With this in mind, if you are counting on Social Security as your only form of retirement savings, you may want to rethink this plan. There are a lot of reports that suggest those who are relying strictly on Social Security for their retirement may be in trouble if the system is unable to support all of the people who will need it in the future, as is indicated by current estimates.
Other examples of retirement plans you may want to reevaluate are ones like the 401K. Once considered risk free, they are not now as safe as the once were. Analyze your plan and if it seems like it may not be enough to support you during you retirement you may have to find another way to save.
Flexibility is something that you need to build into your retirement plan before it is too late to make changes. One way to accomplish this is to diversify your retirement portfolio. Be sure to invest in several different companies and make sure those investments are spread across a variety of industries. If there is a financial crisis in a particular industry, it usually affects all companies involved. By diversifying you'll ensure that your retirement investment won't be wiped out, because you won't have all of your money in one place.
Consistency in your contribution is a huge concern. Even if you get into a financial crunch and want to stop paying in for a few months, this is the last place that you should cut your budget. Once you stop making contributions, it can be difficult to get back into the routine.
Take charge of your own retirement plan, if you want to be assure the funds will be available when you need them. Follow the advice listed above and spread your retirement money out across a diversity of plans, be flexible and ready to move your savings if the economy changes, and always be consistent in your contributions.