Do-it-yourself retirement is upon us.

Employers are doing away with traditional pension plans that promised monthly checks for life. And Social Security? Who knows what may happen to it over the next 20 or 30 years.

That's why everyone needs at least some savings to ensure a secure and comfortable retirement.

The easiest and smartest way to save is through your employer's 401(k) plan. Our 5 simple rules for a successful 401(k) can help you get started, boost your contributions, invest wisely and make the most of your retirement savings over the years.

They're surprisingly easy to understand: A percentage of your income is withheld from your paycheck and deposited in your retirement account. That money is invested in stocks and bonds -- usually through mutual funds. You pay no taxes on what you save or earn from your investments until you begin withdrawing money from your account.

Our pointers can help you get started, boost your contributions, invest wisely and make the most of your retirement savings over the years.

If a 401(k) plan isn't available where you work, an individual retirement account or IRA is the next best thing.

You can open an IRA without your employer's help and save up to $5,000 a year in everything from CDs to stocks. As with a 401(k) plan, your savings grow tax-free at least until you retire. With the best type of IRA, you never have to pay taxes on your earnings.

Our 6 simple rules for a successful IRA will help you make all the right decisions.

Just look at how school teacher Kim Gray is saving for her future with an IRA. You can do it, too.

IRAs and 401(k)s are far better ways to save for retirement than annuities. Insurance companies promise greater security but you'll pay dearly for that, collecting a pretty puny check for the amount you've invested, the risk you've taken and the aggravation you may have endured.

Were not saying 401(k) plans are perfect even after four recent changes make it easier sign-up, save more and ensure that your family gets to keep your savings after you die.

When 401(k) plans were created in 1981 they were supposed to supplement the traditional pensions that covered 30 million workers and guaranteed a check for life based on their income and years of service.

But today, only 19 million of us are earning a traditional pension and 47 million Americans have a 401(k) plan, which means they've become the primary source of retirement income for tens of millions of workers.

Alicia Munnell, director of the Center for Retirement at Boston College told the Wall Street Journal that they're "ill-suited" for that role "because they shift all of the responsibility and risk onto the individual and away from the employer."

But it's a responsibility we must accept if we're going to be prepared for life after work -- a time that may come much faster than we expect.

While nearly half of Baby Boomers expect to work past 65, only 13% of current retirees surveyed by consulting firm McKinsey & Co. actually worked that long.

McKinsey found that health problems or layoffs forced 40% of current retirees into retirement earlier than they had planned.

The average age they left the workforce: 59.

That's why the Bureau of Labor Statistics says just 60% of 60-year-olds, 32% of 65-year-olds and 19% of 70-year-olds were employed in 2005.

All of these changes have turned retirement into one of life's biggest financial challenges. Let us help you make all the right moves for a secure life-after-work.

By Mike Sante

Interest.com Managing Editor

Have a question about your finances? Ask us at editors@interest.com