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Allan Roth, founder of the financial advisory firm Wealth Logic, has some advice about retirement planning. A key issue is that people don't plan for the increase in their spending that will likely happen once they don't have a full-time job, says Roth.

Before you retire, Roth suggests that you take a hard look at your budget so you can get a handle on what you're spending. Then start thinking about the activities you'd like to engage in when you're retired, and what they'll cost. You also need to take into account your health care costs, especially if you're retiring before age 65.

Roth also suggests easing into retirement. Keep working part-time, he says, and not just because it's nice to have the income.