The majority of Americans don't think they are saving enough and are worried their savings won't last as long as they do.
Only 31 percent of workers who participate in an employer-sponsored retirement plan, such as a 401(k), 403(b) or 457, are "extremely confident" or "very confident" that they will not outlive their money — and the rest aren't so sure, according to a new survey by BlackRock.
If you're worried, take these three steps to make sure you don't run out of money in retirement:
1. Be ready for inflation. Prices have more than doubled in the last 30 years. As a new report from Wells Fargo Investment Institute points out: "Today, you need more than twice the number of dollars you would have needed in 1985 to buy the same amount of goods and services — despite relatively modest inflation during that time."