Bangalore: Most of our financial steps today are directed towards securing our future. The best way to secure our future is to have a fool-proof retirement plan. But many a times we tend to make some critical errors in our retirement plan, which cost us big time. Rob Gordon, of Investopedia.Com, has highlighted 5 such mistakes, which you should avoid in a retirement plan -

1. Not Participating in Your Company's Retirement Plan

We all are enjoying more than one superb benefits of privatization but this one-third of LPG has cost us to an extent as well. With more and more companies removing pension schemes from their firms, employees are left with very few retirement options. As most of us work in private firms, it is best to opt for whichever retirement plan the company offers. Most private firms deduct provident fund form salaries, which is equivalent to pension funds. Provident funds might not give us a lot of benefit but they do provide monetary help to an extent. So, do contribute to the retirement plan of your company as every little bit counts.