When you used the words “later retirement” I had just the solution for you. Like many others, you might be worried about running out of money when you can no longer work to supplement your Social Security. The answer for you might be a DIA — Deferred Income Annuity, or longevity annuity. You give the insurance company a lump sum of money and decide on what year you want the payouts to start — perhaps at age 80. The insurance company has a lot of time to make that money grow, so the payments might be surprisingly large — assuming you live to age 80! But it takes a lot of the worry away. (And you can have a death benefit to leave money to someone else if you don’t make it till 80 — but that would reduce the monthly promised payout.)
If this concept interests you, beware of other types of annuities that someone might try to sell you. Here’s a link to the page on the website of StanTheAnnuityMan! (Yes, that’s really his name — and he is one of the “good guys” in the world of annuities. You can get the free brochure explaining the concept of a DIA — and you can see what monthly check you could receive, depending on the age at which you want the payments to start.