Ten ways to pay the bills after you retire

Dad probably has two sources of retirement income – a pension and Social Security. Sure, he has a savings account, but chances are, he's like my mother-in-law. All of that money is in certificates of deposit and U.S. savings bonds and he hasn't spent any of it in years.

But those of us who will retire next aren't going to be so lucky. U.S. News and World Report lists the 10 largest sources of retirement income with the troubled Social Security program at the top of the list with 34% of soon-to-be retirees planning for it to be their major source of income.

  1. Besides Social Security, the other major sources of revenue that U.S News lists are:

  2. 401(k), IRA, Keogh. About 45% of Americans believe these accounts will be a significant contributor to their retirement income.

  3. Pensions. Only 23% of current workers expect to receive retirement pensions.

  4. Stocks and stock mutual funds. After the Great Recession, only 20% of current workers think they'll be investing in stocks during retirement. Just 14 percent of current retirees are invested in stocks.

  5. Savings accounts and CD. Nearly 22% of current workers think these conservatively invested accounts will augment other revenue in retirement.

  6. Home equity. 20% – down from 30% before the real estate meltdown - believe they can live off the value of their homes.