What you should know about naming beneficiaries?

According to Allentown, Pa. investment adviser Kevin Brosious, accounts with beneficiary designations - such as IRAs, 401 (k)s, insurance policies and annuities - aren't governed by your will. "So even if you wrote an ex out of your will eons ago, he or she would still get, say, your IRA if you never changed its beneficiary," Allenton added. As a result, he advised to reviews choices periodically, especially after major life events. And don't leave beneficiary forms blank.

Your accounts then go to probate court for distribution, and rules on who gets what which vary by state.

Savings are the key.

"The tailwind of the bull market is gone, so your savings rate will be the engine that propels your 401 (k)," says Walter Updegrave.

Given the havoc the market has wreaked on your 401 (k) over the past years, you may be wondering what you might have done differently to stay in better shape for retirement, Updegrave added.

No doubt there's room for improvement in all of these areas. But if you're many years from calling it a career, there's another issue that you need to consider: finding ways to stash more money into your retirement account. That's why, you need to save more.