In the course of saving for retirement, a number of things could, unfortunately, go wrong. Investing too conservatively, for example, could leave you short on funds for your senior years. That is why it's generally a good idea to load your retirement plan with stocks -- either individual companies, if you're comfortable choosing them, or S&P 500 index funds.

You might also choose the wrong account in which to save for retirement and forgo tax savings in the process. Traditional IRAs and 401(k) plans give you tax-free contributions and tax-deferred gains. Roth IRAs and 401(k)s give you tax-free gains and withdrawals.

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Source Fool.com