Retirement should be a time for fun and relaxation. Instead, many Americans end up worrying about their finances. Relying on stock market investments for your income can leave you with little certainty. If you’re not one of the lucky ones with an employer pension, you might think you’re destined for constant financial stress. The good news is that it’s optional. With the right financial planning, you can create your own paycheck for life, even if you don’t have a pension.

As a financial advisor specializing in retirement planning, I spend a lot of time talking about this topic. Sadly, too many people are not even aware that you can create an income source that’s safe from the gyrations of the market.

Fortunately, it is very possible. The key is to start planning early. If you wait too long, you may have fewer options, and those choices may be more expensive.

The current national debt is more than thirty-four trillion dollars, and it's increasing literally by the second. The number is so large that it's almost impossible to comprehend. Here’s one way to understand the scale of it all: If you were to count back in time one billion seconds, you'd find yourself back in the 1980s. But if you were to count a trillion seconds, you'd be transported to the era of wooly mammoths, around 30,000 B.C.

What's even more alarming is that this number is currently skyrocketing, with a staggering $1 trillion added every 100 days. That means it’s growing at a rate of about 10 billion dollars per day.

But America’s debt load is nothing new. Should you be concerned?

I believe the answer is yes, and doubly so if you are in or approaching retirement. Let's dive into the potential risks this massive liability could pose to your future.

Social Security is a program designed to replace a part of an individual's working income when they reach retirement age. The benefits are financed through payroll taxes. The program has come under scrutiny in recent years due to the dwindling of some of its sustaining resources.

In a recent report, the Social Security Board of Trustees stated that the program's primary trust fund will run out of assets by 2033. When the trust fund is empty, the program will be able to pay only 80% of promised benefits unless corrective action is taken.