If you're like a lot of people nearing retirement, your 401(k) or 403(b) is probably the biggest part of your savings. But do you actually know how it's invested—or how much risk in stocks you're taking on without realizing it?

In this episode of Friends Talk Money, we're going to look more closely. Ron Surz, a long-time retirement investing expert and president of Target Date Solutions joins us—and he's not afraid to call out where he thinks popular target date funds are falling short. He'll walk us through what he believes is a better way to structure retirement portfolios, especially for people in their 50s, 60s, and those already retired.

We'll talk about:

• What's really under the hood in your retirement plan
• The real risks inside target date funds—and how they're built
• What Ron recommends instead, and why
• What to think about before you roll over your retirement savings
• The most common mistakes people make late in the game—and how to avoid them.

Whether you're in your 50s, 60s, or already retired, this conversation will give you actionable steps to take control of your retirement savings today.

• Terry Savage: What's in YOUR retirement plan? (Chicago Tribune)
• Baby Boomer Investing Show
• Ron Surz, Target Date Solutions (401k Specialist)
• 4 Things You Can Control in Retirement (Pam Krueger)