When many people think about their retirement, and their ability to reach that point on the schedule they may have established as long as a few decades ago, they may only focus on the math.

It can be easy to get bogged down in all the numbers associated with retirement. Many baby boomers are now considering whether they're in a position to stop working once they reach their full retirement age, but beyond their ability to start drawing from their Social Security benefits, pensions and the retirement plans their company may have sponsored, there are other factors they will need to consider as well.

For instance, many boomers may not think as much about the importance of making sure they're going to be able to afford their healthcare coverage once they stop working, but this will likely become crucial because, as people age, they simply require more medical attention. For this reason, it's important to make sure that not only short-term or preventative care is accounted for - through a beneficial Medicare or private insurance program, for instance - but also long-term needs that may come up as they age.

Fortunately, this can be somewhat easier to plan for than it may seem at first because as people age, their cost of living tends to decline as their medical expenses increase. Therefore, even though more money is being devoted to receiving proper care, there might also be more money to spend on it through monthly income.

Of course, if you're going to account for this factor, you'll also need to make sure you're guaranteed to be receiving income well after you've stopped working. Because healthcare is so good these days, many Americans are living for a few decades or more after they retire, and even those who thought they planned well for their post-career years might find that their savings are coming up short as they move into their 80s and, sometimes, beyond.

It's generally recommended that you have about 75% or 80% of your final annual salary coming to you every year in retirement - because there is usually a 20% drop in your cost of living once you stop working. Doing the math to figure out if you're at this level based on your various post-career income sources will be of the utmost importance to your living a happy and healthy life in retirement.