The key to your success in developing any plan, especially your retirement plan, is to be as informed as possible about all of your options. During this step, you should educate yourself in all of the applicable types of investments. Even if you currently are not enrolled in some of these outlined below, it may still benefit you to understand how they work and know what are the advantages and disadvantages.

• 401(k) employer-sponsored plan
• 403(b) employer-sponsored plan
• 457(b) employer-sponsored plan
• Keogh employer-sponsored plan
• Simple IRA employer-sponsored plan
• SARSEP-IRA
• SEP-IRA
• Military retirement
• Government retirement (CSRS/FERS)
• Personal IRA
• Annuity
• Stocks (not in a retirement plan)
• Bonds (not in a retirement plan)
• Mutual funds (not in a retirement plan)

Once you understand your curent investment plans as well as the other investment options available to you, it is time to assess your current situation, both in terms of your investment choices and also how much you are saving in various types of plans.

Step Four - Assess Your Situation