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Americans are worried about not saving enough for retirement due to rising food prices. Sharon Epperson discusses the importance of not outliving your money in retirement. A study by the TIAA Institute found that people struggle to plan for retirement and may need to support themselves for two decades after retiring. Individuals can contribute up to $22,000 in a 401(k) and $6,500 in an IRA, with key ages being 50 and 59 1/2 for additional contributions. Applying for Medicare at 65 is crucial to avoid penalties.