Diversify your savings and investments

The sooner you start putting money into a retirement plan, the more you will have when it's time to retire.  Types of resources to allocate for retirement planning include 401k and IRA plans.  Generally you should invest a portion of your income each month into your retirement plan, taking advantage of the compounding interest.  Many times your employer will match what you deposit up to a limit.  

Control Your Spending Now

You must control your spending and learn to budget properly when it comes to your retirement plan. Most resources can be 
set up to have a monthly stipend or take a lump sum.

Health Coverage

Health insurance is another crucial issue that you need to have taken care of in advance of retirement, such as eligibility for medicaid or medicare.  Unfortunately, too many retired people don’t have adequate medical coverage resulting in less care      than they actually need or depleting their savings to cover medical bills and prescriptions. 

Plan, Then Plan Some More in Advance

A financial planner can also help you get your retirement plan on track.  There are also plenty of books you can purchase that will take you step by step with planning for your retirement future, no matter what stage in life you are at. As long as you are willing to make a commitment to adjusting your spending AND savings habit, it's never too late!  Retirement is supposed to be about enjoying oneself, not stressing out about finances.  Worry about that now to save your old self the headache!