When it comes to saving for retirement, maybe you've done everything right. But now comes the hard part: making sure you don't outlive your money.

Are you trying to think of a retirement gift for a friend, loved one or co-worker? Are you trying to avoid giving them the old standby gifts like a gold pocket watch?

If you are nearing retirement or just beginning to plan for it, you may be surprised to learn that you may need 60% to 80% of your annual income in order to maintain your current lifestyle in retirement.

The Baby Boom generation is about to enter another era: retirement. Never known for accepting the status quo, Baby Boomers are ready to redefine the “golden years.”

Does your retirement seem years and years away? While it may appear this way, you owe it to yourself to look ahead and begin giving thought to a time in your life that may account for 20 or more "golden" years.

Here's what NOT to do if you want your retirement to be a success.