For those nearing retirement, it can be an exciting time or a rather difficult one. Exciting if you are confident that you have saved enough to comfortably fund your retirement; difficult if you are not so sure.
There are two sides to this often asked question of have I got it right and saved enough?
The first part of the answer is knowing how much you spend (or will spend in retirement) in order to know what level of income you will need in retirement.
The second part of the answer to this question lies in having a good understanding of exactly how much capital you need to have saved to fund that particular level of income.