You just spent 30 years making reports, fielding phone calls, filing papers, and pacifying your boss at the office. At the end of each day, you find your energy gradually waning as you reach that point wherein you wanted to declare the last part of your work — retirement.

Retirement is when an individual feels like withdrawing from their occupation to find some time for their selves and contemplate on how much he or she has earned or saved.

Everybody needs a time to stop working, reflect back upon the past, and enjoy whatever life has to offer with the individual's retirement plan or pension staying close behind.

However, the problem of retirement using the typical pensions plans like that of the Social Security; people should start relying on their own savings than the usual way of planning for retirement. This is because the Social Security is gradually losing more assets than it should be gaining in order to adequately supply the much-needed funds of their members.

In fact, the agency asserts that they are paying more than what they collect and they fear that by the year 2010, 76 million people are estimated to reach their retirement age. They estimated that by that time, with all the assets being utilized at exceptional rate, they might only be paying 72% of the expected retirement compensation of the members.

This goes to show that people should try to rely more on their personal savings and other sources of their retirement plans. This will bring about a more balanced view of all the aspects as far as retirement is concerned.

So what are the alternatives to Social Security? Here is a list of the other retirement schemes that you can start planning by now so that by the time you reach your retirement age, you will not solely rely upon your social security retirement benefits.

1. Annuities

These are highly adaptable insurance contracts intended to provide earnings and help you reach financial stability even after you have reached your retirement age.

2. Investments

Saving money is just the beginning. You have to choose ventures that will provide you with greater money over the long period.

Try to look for the "lifestyle mutual fund," which puts a portion of your money in diversified stocks and the other portion in bonds, and maintains a solid balance between the two.

Another good choice is the target retirement fund. Its portfolio becomes more conservative as you approach retirement age.

3. 401 (k)

Your employer's 401 (k) or 403 (b0 can be great sources of retirement benefits. Here, the company will deduct a portion of your income and invest the amount on mutual funds, usually on your chosen instrument.

4. Emergency account

Try to move your money automatically each month from your checking account into an account earmarked for unexpected expenses. Aim for a sum that will cover three month's worth of basics (mortgage, food, utilities, car payments, etc.)

Once you have built this nest egg, you would not have to withdraw from long-term savings if a crisis hits.

There is no secret to building wealth after retirement. You only need to live less than you make and invest the surplus well. When you save money and invest automatically, your retirement would definitely be the best phase in your life where you enjoy relaxation with no financial obligations to worry about.