Build a Retirement Plan That Provides Paychecks AND Playchecks

If you don't have an income plan in place, how can you feel free to have a little fun in retirement? Here's a creative concept from Tom Hegna that creates paychecks to cover your expenses and "playchecks" to cover the rest.

A hiker overlooks the sea with mountains in the distance and raises his arms in appreciation of the view.
(Image credit: Getty Images)

If you’re worried about not having enough money saved to retire, you certainly aren’t alone. Industry expert Tom Hegna has written extensively about a concept, Paychecks and Playchecks, which I'd like to explain.

Time and again, polls find it’s a top concern for pre-retirees. In one telling study conducted for Allianz Life in 2022, 63% of respondents said they feared running out of money in retirement more than they feared death.

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Michael LaMarche, Investment Adviser
Founder, LaMarche and Associates Financial Planning

Michael LaMarche is the owner of LaMarche & Associates Financial Planning & Insurance (, based in O'Fallon, Missouri. He specializes in providing retirement income planning solutions and strategies for individuals and businesses.