1. Social Security Benefits Won’t Be Enough

This is one of the big ones, because it really proves you have to work on your savings before you reach retirement age. If not, you might be surprised by how much you’re going to struggle to make ends meet.

It isn’t just financial advisors who are saying it, but the Social Security Administration claims that your benefits should represent 40% of your income. With that in mind, you’ll need to fill the 60% gap with other forms of income, likely though other savings.

Just because your benefits are calculated based on your highest earnings doesn’t mean they’ll come close to the income you’re already used to.