You'll generally hear that it's important to go into retirement with as much savings as possible. But for some people, a large nest egg just isn't the cards.

It can be tough to carve out money for 401(k) or IRA contributions when you're struggling to make ends meet. And there's lots of pressure on parents these days to not only raise well-rounded children, but also, to put them through college and support them in young adulthood. That can make it even more difficult to build up a solid nest egg on an average wage.

In fact, if you're not exactly loaded with retirement savings, you're not alone. Transamerica reports that as of the end of 2021, workers had saved a median $67,000 for retirement. Granted, we don't know how that breaks down by age, and for someone in their 30s, a $67,000 nest egg isn't so terrible. But for someone within a year or two of retirement, it's not great.

A person a a desk.

Image source: Getty Images.

If your nest egg leaves much to be desired, you should know that you're not necessarily doomed to struggle financially once retirement rolls around. Here are some other income sources you can look to.

1. Social Security benefits

It's not a good idea to plan to retire on Social Security alone. But if those benefits are just one of several income sources at your disposal, then your situation may not be so bad. This especially holds true if you manage to hold off on filing for Social Security until full retirement age. Doing so means you won't face a reduction in your monthly benefits.

2. Earnings from a job

There's no rule stating that you can't work in some capacity just because you're retired. And if you're thinking you're barred from earning an income once you start collecting Social Security, well, that's not true.

If you're receiving benefits and working before having reached full retirement age, you could risk having some Social Security income withheld if your earnings exceed a certain threshold. But once you reach full retirement age, you can earn any amount of income from a job without impacting your Social Security benefits whatsoever.

Now thanks to today's increasingly flexible labor market, working during retirement doesn't have to be something you struggle with or hate. You can find a job that's creative -- perhaps one that doesn't even require you to leave the house. And if you do choose to find a job you report to physically, know that there can be benefits to doing so outside of collecting a paycheck, like the chance to interact with others and stave off feelings of isolation.

3. A monetized home

Many people enter retirement with a fair amount of equity in their homes. Even if you're not mortgage-free at the start of retirement, your home can still be a cash source.

And no, this is not to suggest that you do a reverse mortgage on your home. Those can be dangerous. Rather, you can look at renting out a portion of your home to generate ongoing income. This idea works especially well if you have a finished basement or garage that allows for private living quarters.

Even if you're not looking to take in a full-time tenant, you might be able to rent out storage space in your home or a parking spot in your garage. It pays to explore your options if you have financial concerns based on the state of your nest egg.

Many people enter retirement without having built up the nest eggs they were hoping for. If that's your situation, don't assume the worst. Instead, look at your different income sources and expenses, and do your best to reconcile them. You may find that if you're willing to compromise and make a few sacrifices, like work or rent out your home in some capacity, you can get by during retirement just fine, even if your savings are quite minimal.