A neat little tool will tell you how many internal links are on your home page and illustrate why you should possibly reduce the number.
Here's a nice new tool for you to have a play with. Ecreative Internet Marketing's PageRank Juice Calculator will help illustrate the value of internal links on your website (i.e links to other pages on your own website, such as menu items) and how their value proportionately decreases with the number of links in the site's navigation. To use the tool, just enter your home page URL and your Google PageRank (which you can find here). The PageRank Juice Calculator sends a spider to collect all the links you have on that page, converts that into a total pool of link juice, and then tells you how much juice flows through each link.
If you're wondering what on earth "link juice" is, here's a good explanation.
It's quite fun, before running the tool, to ask yourself: "How many internal links have I got on my home page?" The answer which you'll get from the tool will probably surprise you. Do you seriously need all of those links?