For Baby Boomers, outliving your savings is becoming an increasing concern - and if it isn't, it should be.

One of the main reason for concern is the rising life expectancy. In 1906, the average life expectancy was 54 for men and 61 for women.

Today the life expectancy has risen to 78 for men and 84 for women - a 31% increase in life-span for men and a 27% increase for women.

In today's world if you haven't started planning for your retirement by age 25 you may already be too late.

Among the 78 million Boomer's approaching retirement only about 25% are in a position to be able to retire comfortably.

There are a lot of reasons that Boomer's, as a whole, are so ill prepared for retiring but one of the main reasons is the way they have approached the retirement process.

Most have failed to ask and answer the important questions that can go a long way in helping your retirement planning.

The questions require almost brutal thinking and planning for your future - which most people don't like to do since they are forced to face a certain reality.

But lets face it, failing to do any sort of planning is an even more brutal reality since you are left floating in a rudderless boat - no direction and very little chance of reaching the port you started out for.

So if you are ready to get started thinking about your retirement here are the questions you need to ask and answer as a first step (don't worry, there are only 3) in basic financial planning:

How much money do I need to retire comfortably?

2. Where is that money going to come from?

3. How can I make my money last for as long as I need it?

We'll cover these in some detail to give you an idea of how to get started in your retirement planning process.