In addition to the “paycheck” you receive from your retirement savings, consider an actual paycheck from a full or part-time job. In other words, just because you retire doesn't mean you have to stop working.
Many people, however, can't wait to retire. The last thing they want to do is consider another job. But consider this: most people don't hate work, they just hate their jobs. What if you could find a job doing something that actually gives you pleasure, even at a reduced paycheck? The income from that job would supplement the income from your investments, pension and Social Security.
Finally, remaining in good health during retirement will have a major positive economic effect. Staying active in both mind and body will help you be more productive and, should you choose to, work longer.
Story provided by ConsumerAffairs.