There’s plenty to worry about when planning for retirement, fromsaving enough money to making sure to choose the rightinvestments.

But a Kiplinger report points out that focusing on such narrowgoals can boobytrap a person's retirement in other ways that cancause big problems.

Focusing only on saving, or on the returns from the investmentsin a retirement account, can leave retirement savers exposed toproblems that arise from other aspects of planning forretirement.

Being focused on the investing angle, to the exclusion of nearlyeverything else, will leave your employees (and you?) with holes intheir plan through which they could drive an armored car. Actually,they might have to do that as a job postretirement if all they'vepaid attention to is the rate of return on investments.

But don’t feel too bad. According to Kiplinger, the five riskslisted below are, after all, hidden, which means many savers don'tconsider them when planning for retirement.

So lest you or your employees prepare for retirement with blindspots intact, here are the hidden risks Kiplinger says to bewareof:

5. Living longer than planned.

This one’s a good thing and a bad thing at the same time.

After all, just about everybody wants to live longer, but if youfind yourself outliving the money you have to care for yourself,that’s definitely a problem.

If you underestimate how long a retirement you’re preparing for,you could come up very short, and that would definitely be a badthing. When you’re working on your retirement plan, remember thatbased on gender and birthdate, most online tools will put your lifeexpectancy somewhere between 85 or 88 years old.

But those are just averages, the report reminds, and accordingto data compiled by the Social SecurityAdministration, about one out of every four 65-year-olds todaywill live past age 90, and one out of 10 will live past 95.

So plan optimistically, for life expectancy plus a minimum offive years. You could just plan till at least age 95 and saveaccordingly. And don’t forget to update, or have a professionalupdate, your plan every year so that it’s monitored on a regularbasis.

4. Taxes in retirement.

Okay, so this one’s not an optimistic kind of planning; in fact,you should err on the side of caution and be pessimistic about howmuch in taxes you’ll have to pay once you retire.

Tax preparation, the report warns, is not tax planning. Theformer is what you do for the current year, while the latterprepares you for years to come.

You probably never really thought about the fact that your401(k) or 403(b) will be taxed as ordinary income once you startmaking withdrawals. Roths, on the other hand, are not.

You should have multiple “buckets” of retirement income set up:taxable, tax-deferred, income tax-free/estate tax-free, and incometax-free/estate taxable.

Then you, or an advisor, should plan out how much, and when, towithdraw from each one to keep your tax burden at aminimum—especially in light of the new tax law.

3. Lifestyle expectations.

Some people survive on as little as possible during retirementout of fear that they’ll run out of money.

Others spend like crazy, failing to realize how fast the moneywill run out if they spend down their nest egg as taxes andinflation eat away at their money’s spending power.

If you don’t plan out what you intend to do in retirement, youwon’t have a decent idea of what it will cost you. Know what’sessential to your happiness and well-being in retirement, and givethem priority—and know which things you can classify as “optional”so that you can economize on them and still be happy.

After all, if you know that a Caribbean cruise is a luxury totreat yourself with if the market is good, that could make itpossible for you not to have to cut back on visits to family thatyou’d be miserable without, or the advanced degree you alwaysregretted not completing.

2. The two-edged sword of compounding.

Everyone knows (or should know) the value of compounding, sincesaving early and often can amount to much more savings years laterthanks to the way compound interest works.

But they don’t often think about the inverse—how much harmcompounding can do when decisions are postponed—such as having yourretirement plan evaluated and perhaps redesigned to produce themaximum return as early as possible.

If you procrastinate and don’t pay attention to what yourinvestments or the investment fees are doing to your retirementaccount, if you don’t consider whether you have the right kind ofinvestments for your needs until it’s really too late to do muchgood, that can hurt as much as good investments, properly tended asearly and often as possible, can produce through compounding overthe years.

1. Knowledge blind spots.

This is one of those “a little knowledge is a dangerous thing”moments. If you don’t know something important, and don’t even knowthat you don’t know it, you can’t fix it.

The report cites Steven Covey’s Habit 2: “Begin with the end inmind.” And if all you’re focused on is the financial—how much moneyyou have, how high your returns are and how much income youneed—you’re not paying attention to the big picture.

What do you want to do with the money—and all that new freetime—once you’re retired?

It refers back to #3, in that if you know what you want to do inretirement—and maybe you have some lofty goals, like volunteeringor pursuing additional education or even opening a business—you canbetter plan to accommodate those goals.

It’s not just all about the money. It’s about satisfaction.