In the next few posts, we will explore the many facets of saving for retirement, in detail.

Earlier, we discussed how to set up a 401(k) or 403(b) plan and Roth IRA. I expect that by now you have enrolled in your employer-based plan, if available, and opened an account to hold your Roth IRA. If not, please read my [1] previous posts on retirement accounts.

Now, it is time to examine the power of asset allocation, the value of dollar cost averaging, different types of investments, and how much you will need to save and invest to live comfortably in retirement.