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Americans are concerned about not saving enough for retirement as rising food prices could impact retirement savings. It's important to ensure you don't outlive your money. A study by TIAA Institute at George Washington University reveals people are unsure how to live in retirement, hindering their savings. Men typically live until 82 and women until 85 after retiring, meaning savings may need to last two decades. Max contributions for 401(k) is $22,000 and $7,500 catch-up for a total of $30,000, while $6,500 can be put in an IRA. Age 50 and 59 1/2 are important for adding to retirement accounts, and at 65 apply for Medicare to avoid penalties.
