As thousands of baby boomers rush into the retirement system each and every day, planning for the retirement you hoped for can be a tough task. After all, people have worked a lifetime in most cases to accumulate what they have – and ever before, until now, have they had to attempt to develop a plan that will help them spend some of their savings.

Common questions revolve around whether or not you have saved enough to how long can I make my savings last. While using a retirement calculator may help you determine how to invest your money, it that all you need?

Today’s Income For Life podcast discusses Underestimating What You Need In Retirement, as well as the three planning mistakes that many people tend to overlook when planning for their retirement lifestyle.