Study: These Are the 5 Most Affordable States for Retirees

It's no secret that retirement is expensive, and it's becoming more difficult for workers to prepare for it. Most retirees won't be able to survive on Social Security benefits alone, so that means you'll need a healthy nest egg to last through your golden years. However, the average baby boomer has just $152,000 in retirement savings, a report from the Transamerica Center for Retirement Studies found.

If you're nearing retirement and your savings are falling short, there are a couple of things you can do. First, you can work as hard as you can to save more in the years you have left before retirement. And second, you can figure out how to lower your costs in retirement so your money will go further.

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Source Fool.com