Lesson #1: Be Realistic About Living Expenses. Don't assume living expenses will go down when you retire. Few people substantially slow the pace of their expenditures after they stop drawing a salary'at least in the early years.

Lesson #2: Spend Less Now. The more spent now, the harder it will be to change habits in retirement.

Lesson #3: Start Saving Now. Start saving as young as possible.

Lesson #4: Build a Portfolio. Build a diversified investment portfolio that suits your tolerance for risk.

Lesson #5: Don't Be Too Cautious. Avoid being too cautious with investing if you have many years before retiring.

Lesson #6: Take Advantage of Tax-Deferred Accounts. Put as much as possible in tax-deferred retirement savings accounts.

Lesson #7: Understand & Utilize Employer Retirement Benefits. Understand and utilize any retirement benefits offered while employed.

Lesson #8: Practice Living on Your Retirement Income Before Retiring. Try to live on your expected retirement income at least three years before leaving a job.

Lesson #9: Plan for Inflation. Plan for inflation so your purchasing power can be maintained in retirement.

Lesson #10: Be Healthy. Take good care of your health during your working years.