In addition to employee retirement plans, you may want to consider other ways of supplementing your retirement income. For example, you may be able to tap into the equity you've built up in your house. As an employee, you may arrange for income deferrals—delaying the receipt of a portion of your income until you retire. And of course there are many other ways to invest money that could increase the assets available to you at retirement. Work with your financial professional to build a strategy that works best for you.

Your House Is More Than a Home

Many people have paid off their home mortgages before retirement. There are two ways your home can help you generate income in retirement:

1. reverse mortgages
2. sale and leaseback of your home

Both of these techniques are typically used when you can't make ends meet with your other retirement funds.