In addition to putting away retirement savings in tax-deferred or company-sponsored plans, you can always save and invest on your own.

Remember, however, that you should first take advantage of any free money your employer might be offering in retirement-matching plans, then take advantage of tax-deferred retirement plans, and only as a third choice begin a simple savings account or a more complex investment portfolio for your retirement income.

Saving money in a savings account is quite simple and doesn't require any particular knowledge or skill. You may want to periodically shift your savings to a long-term CD or to savings bonds to earn a higher interest rate.

Investing, which is significantly more complicated, requires some knowledge of the markets, company documents, and trading rules. If you're interested in learning more about investing, do it.

If you're conservative in your investments and take time to read all the available financial documents on companies in which you're investing, the risk is far smaller than most people believe. If you have no interest in doing this, hire a stockbroker or financial consultant to invest for you.