This paper discusses retirement planning. The paper suggests making a scope of all retirement funds. When it comes to retirement planning, the person must consider retirement income, medical costs, long-term health costs, and the future benefits if a person dies leaving spouses or family. The paper discusses that most people believe that Social Security and Medicare will take care of their retirement days, but it will not. The paper discusses four major questions in considering a retirement plan: When a person has to retire, what income will he/she have? How will medical expenses be paid, such as medication or acute medical care? What financial arrangements are provided for long-term care? What financial arrangements have been made for loved ones in case of death?