Overspending in retirement is a huge issue, in large part because people don't know how much they have saved and they take too much out of their savings when they do retire.

A recent report by Securities America found that 43 percent of Americans have less than $10,000 saved for retirement. Eighty percent of those surveyed said they expect their standard of living to rise in retirement, but only 49 percent of Americans said they were somewhat or very confident they had enough money to live comfortably in retirement.

There is a major disconnect between how much people save for retirement, what they live on outside of retirement and what they expect to get in retirement.

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