Before you retire, make sure that you're not only financially prepared, but that you're also ready to make the social transition from the work-a-day world to retirement.
If you're getting a late start, there's a better way to go about preparing for retirement than shooting for a big round, but essentially arbitrary, number.
If you arrive at an appropriate mix of stocks and bonds for your retirement portfolio, you can balance the risk of stocks with the low returns of bonds.
It's hard to know how much money you'll need in retirement. One report says people are spending more during the three years after they quit their day job than they did while working.
It's never too late to improve your chance of having a more secure retirement, but you'll need to put retirement planning at the very top of your list of financial priorities.