Which do you have more of? © Halfpoint/Shutterstock.com

The retirement savings conversation today focuses on whether you are saving enough, considering that people are living longer and corporate pension plans with defined benefits are becoming scarce. People don’t feel secure about Social Security, either.

However, some people actually might be saving too much for retirement, after taking into account factors specific to each individual. If you’ve been saving 10 percent of your income during your entire career, you may be doing better than you think. Take this quiz to see which factors may affect your future retirement. And be sure to talk to your financial planner to get a better feel for your specific retirement planning needs.

If you have children, you likely will not be responsible for their expenses after you are retired. Hopefully, they will be done with school and making their own living. However, if your adult children are still calling on you in financial emergencies, then you need to cut the cord or take that into account when doing your retirement planning. You might even need to look to them in an emergency!

In any case, you will continue to be responsible for Fido in retirement. And considering that pet care costs have been on the rise, you might actually need to save more to account for this expense.
Next Question Do you tend to: © Monkey Business Images/Shutterstock.com
Studies say that people tend to dine out less in retirement and have more time to shop for groceries and cook at home. So you will likely be cutting down on dining-out expenses in retirement.

If you already prefer cooking at home over eating out, you are not likely to see your expenses go down in retirement on this account.
Next Question Do you own more in: © pics721/Shutterstock.com
Prudent financial investments outside of your 401(k) and other formal retirement savings plans could provide additional income for you in your golden years. This means that you may be overdoing it when it comes to savings in formal retirement accounts.

If you prefer to spend your money on decorating your home, you are not likely to get a lot back from that sort of investment. Furniture fashions change and you can't count on raising a lot of money from furniture sales.
Next Question Which of these expenses takes up more of your income? © Mariusz S. Jurgielewicz/Shutterstock.com
If you are spending a considerable part of your income on Social Security and Medicare taxes, you could be saving too much for retirement. After you quit your job to retire, you will no longer have to account for this expense.

If you are spending a lot on medical expenses, you are not going to get a break in retirement. The average person's medical expenses are likely to go up over time.
Next Question Are you: © michaeljung/Shutterstock.com
Employees of large companies typically spend more than the self-employed on maintaining their careers. Expenses such as clothes, commuting, dining out and child care all add up. After retirement, you won't have to spend a lot of money on these expenses.

If you're self-employed, on the other hand, you are not likely spending a lot on these expenses to begin with. So your retirement spending is not going to benefit a lot from the absence of these expenses. Not only that, you have to fork over funds for your own retirement savings as well, and you don't get a company match.