Save, save, save! If you are just starting, put away as much as you can to make up for lost time. Make ongoing contributions to retirement plans. Two things will come into play: how much you can afford to put away on a regular basis and contribution limits. If you can save more than the annual maximum, consider supplementing your retirement plan with a tax-deferred annuity.

Evaluate your investments. Make the necessary changes so that your percentage of growth investments is approximately equal to your age. For instance, if you are fifty, you'll want to have half growth and half income investments. If you're investing for the first time, learn to make disciplined investment choices and learn to be patient.

Know your tax bracket. If you're in a high bracket, consider shifting some of your income-producing investments to insured tax-free municipal bonds. If you don't own your own home, think about investing in real estate as an inflation hedge. Not only does it appreciate over time, but it provides you with a tax deduction on interest and property tax payments, as well. Reexamine your health, life, and disability insurance to make sure you have sufficient coverage.

Make a will or establish a trust. If your gross estate is valued at less than $600,000, a will may be adequate. If it's more, think about establishing a trust. Talk to an attorney who specializes in estate planning before deciding.

The Fortysomething Generic Investment Plan:

Insured tax-free municipal bonds; growth stocks; life insurance; tax-deferred annuity; real estate. Your emphasis is on wealth building and increasing the value of your retirement portfolio.