Adequate income at retirement can mean financial independence and peace of mind. It can mean doing all of the things we have worked toward during a lifetime of effort.

But how much income will we need at retirement, and where will it come from when our salaries or wages stop?

The amount of income we will need depends on the standard of living we wish to maintain.

Social Security and other pension benefits may provide a modest monthly income. But, as many people discover to their dismay, it still costs a lot to live after you retire. The limited amounts available from government and company pension plans often don't provide as much income as people need.