A $200,000 nest egg may not go very far. Read on to see how you can grow your long-term savings well beyond that point.

Fact checked by Suzanne Kvilhaug Reviewed by Margaret James If you're between 35 and 44, you may be part of the sandwich generation: that is, you're both taking care of your children and helping your parents at the same time.

How much should you be saving for retirement? There's some general guidance you can use. But a better bet is to ask yourself a couple of key questions. Financial experts typically recommend saving 15% to 20% of your income for retirement.

Financial planners use various models to project what you'll need in retirement. Find out how your $3 million nest egg could safely pay $120,000 a year.