The choices for retirement savings are extensive and can be overwhelming. And when it comes to retirement planning, inaction can be as bad as making a bad investment decision. One of the most common fears, public speaking, may now be eclipsed for many with the fear of outliving their money. According to the Internal Revenue Service, there is a litany of retirement plan options; however, for each option there are rules and regulations that may appear to be onerous, complicated and confusing. Unfortunately, if a plan is selected and then implemented incorrectly, fines or other negative effects may be assessed to the plan or even the individual investor.