Planning for retirement can be a bit of a paradox. On one hand, you're looking to live the longest, healthiest and happiest golden years possible. On the other, you're trying to make sure your finances last for the duration of your life.

Thankfully, successful retirement planning doesn't have to include plans for a shorter life. There are plenty of ways you can stretch that nest egg, ensuring that your money lasts as long as you do.

Read on for tips on how to make your budget last as long as you need it to. (For related reading, see: High Yield Stocks Can Hurt Your Retirement Nest Egg.)

• Withdraw conservatively. Experts used to say a 4% withdrawal rate was enough to live comfortably in retirement without draining your nest egg. Now that people are living longer than ever, a more conservative approach can ensure you don't wind up broke at age 90. Living on a 3-3.5% withdrawal rate may be a safer bet.

• Delay Social Security. Social Security benefits will continue to pay out no matter how long you live. One way to increase those monthly benefits is to delay claiming Social Security until you hit age 70. For every year after age 66 you don't take benefits, your monthly check will increase by 8%.

• Keep working. Experts say that every year you continue to work will add another three years of comfortable living in retirement. If working full-time doesn't appeal to you, see if you can cut your hours back, consult independently or try a new industry. (For more, see: 3 Benefits of Working Beyond Minimum Retirement Age.)

• Make extra contributions. Seniors can take advantage of IRS regulations to put more money toward their IRA and 401(k) plans. After age 50, you can contribute an extra $6,000 to your 401(k) and $1,000 to your IRA. Combined, you can put $30,500 in both of those accounts.

• Buy an annuity. Purchasing an annuity can be a good idea if you're worried about running out of money. These kick in when you reach your mid-80s, when you may be worried about rising healthcare costs. If you're married, you and your spouse can buy annuities that kick in at different times.

• Talk to an advisor. If you're not sure you have enough to live on, consult a financial advisor. He or she can help you organize your portfolio, let you know what your options are and generally help you to feel more comfortable and in tune with your financial situation.

• Pay off your mortgage before retirement. A mortgage payment is one of the biggest bills in someone's budget. By having the mortgage paid off before retirement, you'll decrease how much you need to live on. The equity in a house that's paid off can also be used in a reverse mortgage or second mortgage. (For more, see: Should Retirees Pay Off Their Mortgage?)

• Track your expenses. You may be surprised to see how much you can cut from your budget once you start tracking your expenses. Every dollar you don't need to spend could be used to increase your nest egg. It may seem trivial to pinch pennies when you're closing in on retirement, but this is one of the most practical and widely applicable ways to stretch your finances in any situation.

Nobody assumes they'll live to be 100 years old, but it could happen given how healthcare technology is improving and expanding. To avoid getting caught betting against your own mortality, be conservative with your spending, plan ahead to make sure you'll be sitting pretty long after you expected to kick the bucket. (For related reading, see: Social Security Strategies: What's Best to Do Now.)