BOSTON (CBS) – The more money you have saved the more options you will have in retirement. It’s that simple!

Most retirees can manage on 80% or less of their pre-retirement income. Most. If you are planning to do lots of traveling or plan to retire early before your Medicare age of 65 you will need more income. Health insurance is expensive.

Spend the time to figure out what exactly your income will be in retirement. Check online for your Social Security benefit. What other source of income will you have? Pensions? IRAs, 401(k)s? Annuities? Real estate?

Consolidate your IRAs and retirement plans so that all of your dollars are in one place. This will keep bookkeeping at a minimum.