10 secrets to successfully save for retirement

Stay in stocks

The extraordinary volatility of the market in the past decade has left some people scared to invest in stocks. It's OK to be a little cautious, but it's almost impossible to save enough to retire without the power of the stock market.

You'll need an average return of 7% or 8% per year to succeed, and stocks are the only type of investment that can do that.

The market has losing years, but in the long run, stocks have historically produced a better return than other investments. You may think you're playing it safe with CDs, government bonds and money market accounts, but returns from those investments are too small.

"If you have too much volatility or risk, you reduce your risk, but you don't get out of the market. You won't even outpace taxes and inflation with CDs," says Larry Rosenthal of Rosenthal Wealth Management Group in Manassas, Va.