Note: This article is part of Morningstar's November 2013 Investor Starter Kit special report. An earlier version of this article appeared Sept. 10, 2012.
For years, the financial-services industry has drilled the "80% rule" into pre-retirees' heads, suggesting that they'll need to replace 80% of their pre-retirement income when they retire.
Christine Benz does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.