Your income is a big deal to the livelihood of your retirement. Retirement income little or none means the difference between enjoying your income or just sitting at home staring at the walls.
If you were smart and planned ahead for your retirement and you were frugal in your spending. You should have a nice amount of retirement set aside to fall back on during your retirement. This would be where you took a set amount out of your paychecks and stuck them into an interest bearing savings account and let the money grow over the years.
The ideal here is to save the money until you will retire then you can live off the money. Alternatively, you can take out a monthly allowance each month to help supplement your social security or your retirement payments from a life long career.
Furthermore, you can use only what you need to pay for something or just live off a retirement payment or social security and leave the savings in the account. You may at some point need some extra money to purchase something that may be expensive. The savings will help if a need for a great deal of money should arise.
Now on the other hand, if you did not plan for retirement and save a portion of your income then you will have no money to fall back on if you were to need extra money. If you have no savings saved back, then you will simply have to live on only your social security or retirement money alone and that can be difficult in today economy.
Retirement income little or none means that if you did save that when your do retire you will be able to actually enjoy your life after work and not have to worry. On the other hand, if you did not save for the retirement then you must watch everything that you do after you retire.
The saved money by the smart retirement planner can make retirement fun and interesting. With the saved money, you can go and travel or you will have plenty of money to live comfortably with out worry. No worry during retirement is important because you have done your worrying and now is the time to relax. Therefore, if you have not began to save some money back you may wish to do so for a comfortable retirement. This way you will know you have more than just what your company or social security gives you.