Retirement Income

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Retirement income refers to the amount of money that an individual or household receives during their retirement years, typically from sources such as pensions, Social Security, investments, and savings.

The goal of retirement income planning is to ensure that individuals and families have enough income to cover their living expenses and maintain their desired lifestyle during retirement.

This may involve setting aside a portion of income throughout one’s working years in retirement accounts, such as 401k’s or IRAs, and making strategic investment decisions to maximize returns and minimize risk.

Other strategies may include delaying retirement, working part-time during retirement, and using home equity or other assets to supplement retirement income.

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