After a lifetime of saving, many people have accumulated a hefty amount of money as retirement beckons. A recent report showed nearly half of 401(k) accounts had a balance of $1 million or more, which is impressive.
But regardless of how much or how little money soon-to-be retirees have saved, one big question often haunts them: Will my savings be enough to see me through 20, 30 or more years of retirement? The uncertainty leaves some people afraid to spend too much beyond necessities, worried the money will dry up while the long retirement runway still stretches before them.
