Around this time of the year, it's all too easy to spend your way into debt. You can do a great job saving for eleven months just to blow it in December.  But no matter the length of your gift list is this holiday season, one person simply can't be left off your list: you.  Have you made a 401(k) contribution this year? Have you set up and funded an IRA - either a Roth IRA or a regular IRA?  Have you created an emergency fund?  Sure, it's more fun to shop today than to save for something in the future. But when the future comes - and it will - you'll be much happier if you prepared and saved consistently along the way.  Not sold? Think about it this way: if you have ample money in retirement, you can but a lot of stuff for your grandchildren!

There's no law saying you must roll over your 401(k) or 403(b) plan to a regular IRA when you leave an employer.  Still, I believe an IRA rollover is a great idea in such a situation.  Both for purposes of keeping things less complicated (e.g., fewer statements, fewer contacts to keep track of) and for greater organization (e.g, easier to invest holistically), an IRA rollover has significant advantages.

Fortunately, processing an IRA rollover is remarkably easy and, done properly, free.  Indeed, there should be no cost to roll over your IRA.  Furthermore, once you determine which custodian (e.g, brokerage house, bank) you wish to use going forward, you'll receive help from your selected customer service department with any part of the paperwork you don't understand.  Learn more about how to roll over to an IRA.

Now that we've had some time to digest the results of the November 2 elections, it's time to process their implications for your retirement planning. (I'm assuming you've already assessed its potential impact to the rest of your life.) Obviously, be on the lookout for tax rate changes, which have been widely discussed for months in terms of the possible extension of the Bush-era tax-cuts.  One would hope if tax rates are held at their current level, we'd save more than if our rates went up.  Will you?

Personally, I think it's doubtful much significant will change in terms of the guidelines and laws around our retirement plans as a result of the election. Historically speaking, a split government has generally meant more talking and less doing. While I'd like to see greater incentives for retirement saving, I don't see the government shelling out the cash it doesn't have to do so.  Still, I hope we start a real dialogue on Social Security soon. Will we?

Available to the self-employed only, a Keogh plan can be an incredibly powerful retirement planning saving tool. Due to its very high contribution limits, saving in a Keogh plan allows you to both jumpstart your retirement plan as well as significantly increase your current year tax deductions.  While you have until the due date of your tax return plus extensions (likely October 15, 2011) to make a Keogh plan contribution, the plan must be set up by December 31, 2010 in order to make a contribution related to your 2010 income (and deductible on your 2010 return).  Since that date is coming soon, all self-employeds (and their loved ones) ought to catch-up on their understanding of Keogh plans or self-employed retirement planning in general.