I just bought my airline ticket for my friend's 100th birthday party, which she's anticipating with considerable excitement. Life has been quiet since she gave up competitive ballroom dancing at 85. Planning a party spices things up.

The oil wells that my friend's husband left her have kept her lifestyle comfortable – until the last couple of years when she developed a need for 24-hour care after the car she was riding in was broadsided.

Even a couple of active oil wells don't gush enough money to cover all the expenses of extreme aging. My friend and her children, who are old enough to be contemplating their own retirements, can see the day when it is all going to run out. If mom's still around – and the doc says she very well could be – longevity is going to be an expensive problem.

Ken and Daria Dolan, America's first family of personal finance, answer your questions every Friday.

Click here to ask Ken and Daria your question.

Americans have lost trillions -- with a "T" -- of dollars in the stock and housing market collapses. The average person with a 401(k) plan has lost five years worth of their savings! No wonder people are nervous about whether they have enough money saved for retirement. Today, Ken and Daria Dolan of Dolans.com have a surprising answer to the question "How much money do I need in retirement." The conventional wisdom is dead wrong, they say -- listen to it and your retirement dream could become a nightmare.

Dear Ken and Daria,

How can i figure out if I have enough money to retire?

--Mary

Use our retirement planning worksheet to figure out how much you need for retirement. It's not too late to rebuild your retirement savings!

Maybe you're thinking about relocating in retirement, in hopes of enjoying milder weather and lower expenses. Before you make a move, it pays to assess the overall tax burden of your future home. Some states are a lot more tax friendly then others.
Click through our photo gallery and see which cities are the most tax-friendly & unfriendly for retirees.