Each week, Wes Moss answers real reader questions on money, investing, and retirement. Wes is Chief Investment Strategist at Capital Investment Advisors and a fee-only financial advisor. He hosts a weekly Ask an Advisor segment with Christa DiBiase on the Clark Howard Podcast and YouTube channel.

Wes's answer: If you reach what I call the 'money green zones' -- meaning you have $1 million or more in investible assets and multiple income streams -- you’ve potentially created your own retirement income factory.

Once you're no longer working, you might have dual Social Security benefits, a pension, or rental income. But you also have your investment income, which is where your asset levels become incredibly important. If you look at $1 million in investible assets and apply a standard 4% to 4.5% annual withdrawal rate, that could generate an additional $40,000 to $45,000 a year.

Combined with your other streams, this could create your new retirement paycheck -- let's say it’s $8,000 to $10,000 a month. Ideally, this paycheck is managed to keep up with inflation, and it's one factor that allows you to self-insure for healthcare.

Here is what people often overlook: if you ever reach a point where you need long-term care, your discretionary spending naturally goes down. You aren't traveling as much or taking big trips with the grandkids because of your health situation. So while your lifestyle spending drops, your retirement income likely stays the same. That income simply shifts from funding lifestyle choices to funding essential healthcare and assisted living.

This is one way to self-insure without having to buy traditional long-term care insurance, which has become more difficult to find and highly expensive. For people with fewer assets, it may be too costly; for people with significant wealth, it isn't necessary. And for those in the upper-middle tier who can afford it, the premiums still feel painfully high while the actual benefits may have been cut back. A robust retirement income plan can help serve as a long-term care plan.