Despite understanding the importance of planning for retirement, most younger investors have yet to develop a detailed plan for their finances in retirement, according to new research by T. Rowe Price.

Only 39 percent of investors between the ages of 21 and 50 are confident that they will have enough for retirement. And although many say they understand why planning for retirment is important, 63 percent said they have yet to develop such a plan.

Granted, some things we can't control, but others we can, and the T. Rowe Price IRA survey found that younger investors who do have a plan feel much more confident about their retirement readiness, with 58 percent of them reporting that they believe they will have enough money.

Not having a plan tops our recent list of seven easy ways to mess up retirement. The other six mistakes include:

• Not having alternative plans
  
• Not knowing what you’ve got
  
• Underfunding accounts
  
• Wimping out on risk
  
• Ignoring fees
  
• Depending on home equity

For details and tips on avoiding each of these mistakes, click through to the full article.

Most Younger Investors Don't Believe They Will Have Enough Money For Retirement [T. Rowe Price]