Many Americans worry about retirement and outliving their money. You might think you have saved enough to retire, but what does that really mean? You might say $1 million. Or you might figure that saving enough to replace 70 to 80 percent of your current income will be enough.
Unless you've carefully mapped out your desired retirement lifestyle, however, you're probably just guessing at what you'll need — and for how long you'll need it.
So how much money do I need to retire? For those of you asking that question, let's take a look at how you can determine your potential retirement needs now in order to help establish a more secure future.