Most of the time. It becomes a challenge to understand why one would never consider himself to have earned enough even after retirement. This question should not become a bother since you cannot change the situation.

After analyzing the amount of money available to you after retirement, it’s important to know how this money will be used during retirement.

The questions that should come to mind and have ready answers from oneself include:

  1. What are the sources of income?

The sources need to be listed down to be able to know the overall savings that one has made during work life. They include;

  1. The savings put aside for retirement- This can be through a separate bank account savings account which was solely opened for personal retirement savings.
  2. Pension- A reputable employer will always have a saving scheme which helps a person to save and at the same time gain benefit from the employer with the additional saving as defined by the state.
  3. Social security savings- The government has a way of saving for every employed individual and pays out after retirement the saved amount.
  4. Post-retirement- Usually people engage in different income generating activities after retirement like in the case for baby boomers who are actively involved in economic growth which automatically becomes an additional income for the rest of the life he may live.
  5. Analyze expenses- This should be analyzed on a monthly basis to ascertain if one can be sustained for the lifespan that is left. This includes healthcare, food, transport, and others including relocation expenses should a person wish to transfer to a different city of residence.
  6. Estimation of unknown occurrences- The economy may be frustrating at times and inflation may strike which would mean automatic change of the cost of living.
  7. Insurance- Medicare Supplement Plans 2019 information can be found at https://www.bestmedicaresupplementplans2019.com/medicare-supplement-plans-2019-tips-compare-options/

Others would include the investment returns which would either decrease or increase depending on the nature of the economy.

Expected Lifespan- It is of importance to estimate your lifespan to check if the saving can sustain you to the end. This helps to prevent early deaths due to financial constraints that may lead to heart attacks out of worry and fear.


Retirees need to ensure that they have a plan instead of getting caught up unprepared when age catches up with them.