Time for a retirement goal check-up

NEW YORK (CNNMoney.com) -- Are your savings goals on target for your golden years? Here are tips to help you sock away the right amount.

Your first move is to see how you're faring in light of your retirement goals. Here are some tools to help you crunch the numbers:

A financial planning tool kit can be found at www.finance.cch.com. The AARP, formerly known as the American Association of Retired Persons, has tools at www.aarp.com, as does Choose to Save, at www.choosetosave.org.

The purpose of rebalancing is to get your portfolio's allocation back to your original allocation.

This year, if you have a lot of real estate, small cap or emerging market companies in your portfolio... chances are, you'll have to do some trimming.

Some experts say blue chip companies and large international holdings are set for a rebound.

Make sure you're not going to be penalized by the taxman for rebalancing.

Remember... you'll have to pay capital gains taxes if you sell some holdings and buy others in a taxable account.

Look at your 401(k) and a regular taxable account as one giant account just for asset-allocation purposes and then make any changes in your 401(k) so you'll be able to avoid these taxes.

You should also think about putting more money toward your retirement if you can.

This year investors can put as much as $4,000 into their IRAs.

If you're over 50, you can add one-thousand on top of that.

Contribution limits to 401(k)s have also increased. In 2007, workers can contribute up to $15,500. And for those over 50, you can put in up to $20,500 this year.

Pay attention to change.

If a manager with experience in a small and concentrated portfolio is suddenly managing a large allocation of stocks, that should raise some red flags.

Call the fund for information. You can also check out what analysts have to say about the managers at www.morningstar.com.

------------------------------------------------

Cutting the tax bill to sock more money away

New Year's (financial) resolutions

The difference in all your credit scores

Gerri's Mailbox: Got questions about your money? We want to hear them! Send e-mails to toptips@cnn.com or click here - each week, we'll answer questions on CNN, Headline News and CNNMoney.com.