Do you have enough money to retire? If not it is not too late.

Musicians Mike Risko and his wife, Miriam, own their own music store and are nowhere near retirement, but they've been saving for years and have chosen to live modestly. Miriam explained. “We didn't throw a big extravagant wedding. We drive nice cars but we don't have to buy the most expensive car."

Consumer Reports has come up with "15 ways not to run out of money" after surveying its readers who are retired or close to it. Consumer Reports’ Tobie Stanger says, “Retirees who said they were highly satisfied in retirement listed living modestly as one of their best steps toward retirement. And of course, saving a lot was also on their list."

Increasingly workers can't count on employer-funded pensions the way current retirees do. But you can start to fund your own retirement plan. If your employer offers a 401(k) or other similar retirement account at work, often your employer will match your contributions. That's like getting free money.

Another option for many people is to contribute to an IRA. And if you think it's too late, Consumer Reports says it's not. The best retirement strategies include IRA contributions, paying down debt , and delaying social security for higher payouts. Even if you're over 55, the best retirement strategies still make a difference. Also, if you enjoy working as the Riskos do, don't rule out continuing to work past age 65 even if just part-time. You'll likely enjoy staying active and connected.

Once you do retire, Consumer Reports advises following the four percent rule - withdrawing about four percent of your savings annually has been shown to preserve your capital for at least 30 years even in tough economic times.