The retirement industry focuses so much on getting people to save enough for retirement or invest well that the topic of retirement income never comes up. CAPTRUST Consulting Research Group said that is a mistake, particularly with 10,000 baby boomers retiring every day for the next 16 years.

Today's low-interest-rate environment requires a different approach to retirement investing and income generation. People need a plan for withdrawal management.

CAPTRUST recommends that retirement savers accumulate enough wealth to replace at least 70 percent of their pre-retirement income as they enter retirement. That means that an individual making $50,000 a year would need to save enough to replace $35,000 a year to retire comfortably. That amount is a combination of Social Security and retirement savings.

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