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Retirement is often seen as life’s golden chapter. It offers the rich rewards of years of hard work: leisure, travel, and the freedom to make your own decisions.

But not everyone’s ready, especially with a persistent and alarming percentage of Americans feeling they won’t have enough money to cover their retirements.

If you’re eyeing retirement, it’s time to analyze your financial and personal situation and consider these five critical signs that you might not be ready to retire — along with solutions to address these challenges.

Spoiler alert: It’s (mostly) about the money.

##1. You haven’t saved enough

One of the most glaring signs you’re not ready to retire is inadequate savings. A common benchmark is having at least eight times your annual salary saved by the time you retire, but many Americans fall short. Especially with the increasing cost of living, saving for retirement is now more important than ever — but it can be even harder to achieve.

How do you find extra money in your budget to put towards investments? With Acorns, you can automatically save and invest spare change from your day-to-day purchases, bulking up your portfolio significantly.

Here’s how it works: when you make a purchase with your debit or credit card, Acorns rounds up the price to the nearest dollar and invests the excess into a smart portfolio.

If you want to reap the tax benefits on your investments, you can [open an IRA account] with Acorns, too.

With an Acorns Silver account, you get access to Acorns Later, a retirement IRA with a 1% match on new contributions. You can also opt for the Acorns Gold plan, which offers a 3% IRA on new contributions.

Sign up today to get a $20 bonus when you set up a recurring investment.

If you are skeptical about market fluctuations or worried about inflation eroding your savings, you can also choose to invest your money in gold.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.

##2. You rely heavily on Social Security

If your retirement plan depends primarily on Social Security benefits, it’s time to think again. Social Security is designed to supplement your retirement income, not replace it entirely.

One of the surest workarounds is developing multiple income streams, such as investments, rental properties, or part-time work, to reduce your reliance on Social Security. Educate yourself on strategies to maximize your benefits, such as delaying until age 70 for the highest possible monthly payment.

Additionally, withdrawing 4-5% annually from a well-diversified portfolio can give you an additional $20,000-$25,000 from a $500,000 investment.

Also, consider establishing an emergency fund to cover unexpected expenses, such as hospital stays, car repairs or even veterinarian bills. This will ensure you can dedicate your Social Security check to routine expenses.

Consulting a professional can help you navigate your retirement savings and plan ahead so that you are not dependent on your Social Security benefit, and Advisor.com can help you find someone that’s right for you.

This online platform connects you with vetted financial advisors in minutes. How it works is easy: Just answer a few quick questions about yourself and your finances, and the platform will match you with a financial advisor best suited to helping you make your money last in retirement.

From here, you can view their profile, read past client reviews and schedule an initial consultation for free with no obligation to hire.

Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

##3. You haven’t accounted for healthcare costs

Health care is one of the largest expenses in retirement, and many underestimate its impact. Medicare doesn’t cover everything, and long-term care costs can quickly deplete your savings.

Researching Medicare and supplemental insurance plans to understand what is and isn’t covered can help with planning. Many older Americans opt for long-term care insurance to protect against future healthcare costs.

Shopping around for insurance can also help you reduce your premium significantly, lowering the strain on your monthly budget. If you are under the age of 65, you can compare rates offered by insurance providers near you through U65 Health Insurance for free.

Here’s how it works: Enter your zip code, age range, and household income, and U65 Health Insurance will show you offers from reputable insurance providers including United Health, Kaiser, Anthem, and more.

##4. You have significant debt

Carrying heavy debt into retirement is a problem. Whether it’s credit card debt, a mortgage, or student loans, debt drains your retirement savings and increases stress during what should be a relaxed time.

It’s important to prioritize paying off high-interest debt first. Consider using strategies like the avalanche method, which involves paying off the highest-interest debt first. Or opt for the snowball method, which pays off the smallest debts first to build momentum.

You can also opt for debt consolidation — take out a personal loan and repay outstanding debt with proceeds. Then, you are left with only one low-interest payment.

You can check the rates offered by various lenders on personal loans for debt consolidation through Credible in just two minutes. You can get personal loans at rates as low as 6.94% APR — potentially saving you thousands of dollars in interest payments.

The best part? Checking rates through Credible is completely free and won’t hurt your credit score.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.