The average 60-something has just $112,500 in retirement savings, according to data from Northwestern Mutual. But ideally, you'll kick off your retirement with a much larger nest egg than that.

In fact, you may be looking at starting retirement with a nest egg worth several million dollars. But if you're nervous about spending that money, you're not alone.

Many seniors worry about outliving their savings. And as such, many are hesitant to tap their nest eggs even though the purpose of having that money is to pay for different expenses during retirement.

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Source Fool.com