With uncertainty before us about the state of Social Security and Medicare funding, it’s now more important than ever to have a serious plan about your post-retirement income. After working hard throughout your career, you want to enjoy the time you’ve earned, after all. Financial expert Jeff Rose explains in his article “How to Calculate Your Retirement Savings and Retirement Date” on the Equifax Finance Blog how to avoid having to work again after retirement.

Rose suggests that you consult a financial expert to best map out your economic future, but also offers a few general ideas on retirement planning. Since a lot of people are skittish about the stock market given the tumult of recent years, he suggests that people invest in bonds and CDs. Bonds are debt securities in which the holder of the bond lends money to a safe institution, typically to the government, at a low interest rate. CDs, or Certificates of Deposit, are time deposits that are also very safe and work like savings accounts that are locked in for a certain period and then rewarded interest, usually benefiting a bank, credit union or other financial institution.

With both of these, there is still interest growth but at a very low level which corresponds to their high safety. Rose suggests that while these are good, some risk is required to keep your investment portfolio growing with you. Some stock investments are necessary, and a 25-75 stocks to bonds and CDs mix is recommended as a good place to begin your portfolio.

There’s a lot more to read in the article, from where to start to how to calculate your date of retirement and avoid sneaky pitfalls. For more information about retirement planning, taxes, credit trends, real estate and everything else to save money and live better, check out the Equifax Finance Blog.