It’s a good problem to have: too much money saved for retirement and additional funds to leave to your heirs. Will you be one of the many who never spend it all?

You’ve made some right moves to this point. Here’s what you can do next.

One rule of thumb is that you'll spend 70%-80% of what you spent before retirement during retirement. Using the 4% rule, you can calculate how much you need to save in total.

Your personal retirement number depends on your lifestyle goals, investment risk and desired retirement age, among other key factors ...