As you prepare for retirement, there can be several sources of income to provide for your needs.  One of those income sources is Social Security, and while it is frequently discussed in political circles as needing adjustment, for the foreseeable future it is here for you.  Historically, another income source was a defined benefit pension plan through an employer, but those are virtually non-existent.  In their place, much of the retirement saving burden is being placed on the individual.  It is up to you, prospective retiree, to properly plan and fund your own retirement. 

This link from the Social Security Administration provides a nice overview of funding alternatives that are available. In addition, consider seeking the guidance of a trusted and credentialed Certified Financial Planner to help you determine the amount of funds you’ll need during retirement, as well as the best investment and saving tools to help you obtain your goals.