Steven Rattner's NY Times Op-Ed piece, "Pension Holders Need a New Retirement Plan, Not Stock Tips" has some good rules of thumb for retirement saving, including:
- Try to save as much as possible of your income, ideally 10 percent to 15 percent.
- Use only low-cost index mutual funds rather than individual stocks or actively managed funds
- If you have a good 401(k) plan and you change jobs, either leave it where it is or move it to your new employer; I.R.A.s should be your last choice. They often come with higher fees.
- Don’t cash out early.