As much as we hate to think about it when we're young or how much we look forward to it when we're older, retirement can be a scary thing if you don't prepare yourself. Although there are some people who still hold a firm belief that the government will take care of them, there is strong evidence that things like Social Security might not last much longer. This is why it's important to plan as if it won't be there. That way, if you are given a supplemental income from Social Security, it will be extra money that will keep you going for years to come.

So read these tips to brush up on your retirement options so that you're more than prepared when the time comes.

• Start early and your money will have more time to grow. The more years your money is given to compound, the more you'll receive in the end. It's almost magical -- you put money in and get even more out!
• Use your 401(k) to your advantage. It's free and it's there for a reason. Plus, your contributions are tax deductable. Not to mention, in most cases your company will match your contribution (more free money).
• Start an IRA if you haven't already. Like a 401(k), Individual Retirement Accounts will give you large tax breaks. IRAs come in different flavors, but mainly there are two types: those that tax you when you put your money in and those that tax you when you take your money out. How you choose to be taxed is completely up to you but some people prefer to be taxed when they deposit, so they don't have to worry about higher tax rates later due to inflation.
• Stocks are good for high returns over extended periods. High returns help you stay ahead of that nasty inflation, which means that once you're rich, you'll stay rich.
• Make realistic goals for your retirement. Base your future expenses on your needs and how you plan on living at that time, along with your supplemental Social Security (if it still exists). But it's important that you're honest with yourself. Don't set unattainable goals.
• Bonds in moderation will ensure that inflation doesn't overtake the purchasing power of the interest payments from your bonds. Learn from the mistakes of today's retirees and tread lightly with bonds.
• When you withdraw from your investment accounts, make sure you aren't being penalized. Let tax-advantaged accounts compound for as long as you possibly can, while drawing money from your taxable accounts. This way, your retirement assets will last several more years.
• Consider working part-time in retirement to help cover the cost of your bills. The side benefits to working part-time are many, but most notably you'll stay social and age less quickly (depending on your job).
• Be savvy about your retirement location. Where you end up living can greatly reduce your cost-of-living, which will free up money for later years or for other things in life. Perhaps you own a home; you can transform your equity into income by taking out a reverse mortgage.
• Grow your assets rather than individual accounts. This goes for your stock portfolio but your other accounts and properties as well. This will have a big impact on your returns over the long-haul.

In conclusion, don't put all your eggs in one basket. Put as much money as possible in those places that will grow your money the best while it's out of your hands. Start early and save often.