By Miranda Marquit

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Even though the concept of retirement has been evolving in recent years, there is still a great deal of interest in build a nest egg that allows consumers to become financially free and live comfortably. Whether you are taking a more traditional approach to retirement by playing golf all day, or whether you want to travel the world, having enough to be comfortable and do what you want is important.

However, you might be ruining your retirement right now. Before you ruin your retirement future with the choices you make today, here are 4 things to avoid:

1. Not Saving Enough

The biggest threat to retirement, says Brian Menickella, a managing partner at The Beacon Group of Companies, is that most people don’t save enough to begin with. “The current rate of savings, as of October 2014, is 4.4 percent of income,” he says, citing a statistic from the U.S. Bureau of Economic Analysis. “While that is up from previous years, it will not be enough.”

One of the best ways to prepare for a good retirement is to set aside more money now. When you consider that some experts say that between 10 percent and 15 percent of household income is wasted every month, it appears that more money could be saved. Menickella suggests saving at least 12 percent of income for retirement.

If you aren’t there yet, make it a goal, stepping up your savings gradually (while cutting the fat from your budget) until you reach that goal. “You can easily find another $100 per month to invest,” Menickella says.

2. Relying on Social Security to Cover

Too often, when considering the future, consumers think that Social Security is going to be there for them. However, this might not be the case. “The reality for most is that Social Security will provide maybe 40 percent of their needs,” says Menickella. This number could fall even lower if politicians move to make changes to Social Security. Younger generations may not have the same safety net.

Menickella also warns against relying on pensions. These plans have almost disappeared, and even if you do have a pension, there have been plenty of high-profile cases in recent years that indicate that even pension plans aren’t safe. You need to make sure that you are working to take care of your own retirement needs, and not relying on pensions or Social Security to provide for the bulk of your financial stability later.

3. Forgetting about Inflation, Fees, and Taxes

Recent issues with the stock market have reduced confidence. However, many people still just focus on the crash and forget about the recovery as well as the fact that, over time, the stock market has yet to lose in any 25 year period. If you only put your money into savings, your return won’t be high enough to outpace inflation. Menickella says you should make sure to invest more than you put in savings, since the low rate of return can mean that you see real losses in terms of spending power later as prices rise.

Additionally, don’t forget about the eroding power of fees. “Check on the fees in your 401(k) or IRA,” says Menickella. “Fees impact returns.” A study released in 2012 discovered that you could be losing up to $155,000 (or more) from your nest egg, just due to 401(k) fees.

Finally, don’t forget to think about taxes. Implement a plan now that takes into account taxes, and your future likely taxes, so that you can reduce your liability in this area. When you consider the combined impacts of inflation, fees, and taxes, it becomes clear that you can make a big difference in your portfolio with the right strategies.

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