Before panicking, we need to know exactly how much is coming in and how much is going out.

Money you receive: This consists of your social security, any pension (if you have one) and interest income. It also includes what you can take out each year from your investments. See How much $ can you withdraw each year without running out?

Money you will spend: See You need just 3 numbers to Budget Expenses for Retirement. 

The result: Can you live on the net of these two? If so, congratulations! If not, read on…

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