Saving right might be saving grace at retirement: "IRAs
The maximum contributions for individual retirement accounts goes up to $4,000 in 2005, or $4,500 for workers age 50 and older. You must have earned income to contribute to an IRA.

If you're not covered by a retirement plan at work, you can contribute to a deductible IRA. Low-income workers may also qualify for a deductible IRA, even if they're covered by a company pension or 401(k). For just about everybody else, there's the Roth IRA. You don't get a tax deduction for Roth contributions. But withdrawals are tax-free, as long as you're at least 591/2 and it's been five years since you set up your Roth. If you play by the rules, you'll never pay taxes on any of your investment gains.

Too hard to put money aside for an IRA? Consider having a specific amount withdrawn electronically from your checking account each month, says Christine Fahlund, senior financial planner for T. Rowe Price. The automated programs funnel money into your retirement plan before you have a chance to spend it."
--from Sandra Block: Your Money: USA Today

Many in GOP Wary of Social Security Plan - There is little disagreement that Social Security needs to be bolstered, because in 2018 annual benefits paid out will start exceeding revenues coming in. If it is not changed by 2042, the system will be able to afford to pay only three-fourths of the benefits now due recipients. ...

Bush has yet to detail his plan. He is expected to propose letting workers divert some — perhaps 2 percentage points — of the 6.2 percent payroll tax they now pay on wages into private investment accounts. Those opening such accounts may have to accept smaller regular Social Security benefits in exchange.
--AP