It is not too late to live the retirement you have always dreamed of. Yes, the market meltdown and housing crash have probably taken a bite out of your nest egg. But you can get your retirement planning back on track.

We have plenty of smart retirement planning tips to help you do just that. But today, we want to share with you seven retirement planning mistakes that can cost you dearly.

Retirement Planning Mistake #1: Missing out on employee matching

Missing out on employer matching is a huge retirement planning mistake.

If you don't take advantage of matching 401(k) contributions, you are walking away from FREE money! That's just crazy.

We know that a lot of companies have cut this benefit over the last 18 months, but don't be discouraged if you lost this benefit. A new survey in the Wall Street Journal shows that about half of all employers who cut 401(k) matching plan to reinstate their programs in 2010!

Retirement Planning Mistake #2: Letting fees eat into your nest egg

If you are not careful, your retirement nest egg can be pecked to death by fees. 401(k) fees, brokerage fees, mutual fund fees, IRA fees, financial advisor fees...and on and on.

Take the time to review your investing costs and look for ways to reduce the fees you are paying. Combine your IRAs, invest with low cost mutual funds, and compare trading costs with online brokers.

Every penny you pay out in fees is less money you have growing over time in your nest egg. So, be a miser and make sure you aren't paying one penny more than you need to.

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