How to Create Retirement Income That Lasts

Saving money for retirement is only part of the equation.

Equally important is developing a retirement income strategy that ensures your savings last throughout retirement.

The Three Retirement Income Sources

Most retirees rely on a combination of income sources.

Social Security

Administered by the Social Security Administration, Social Security provides foundational retirement income.

Retirement Accounts

Savings from 401(k)s, IRAs, and brokerage accounts often form the primary retirement income source.

Personal Savings or Investments

Additional investment accounts or assets can provide supplemental income.

The Withdrawal Strategy

Many retirement plans use structured withdrawal strategies such as:

• Percentage withdrawals
• Required minimum distributions
• Income ladder strategies

Rules regarding required minimum distributions are outlined by the Internal Revenue Service.

Managing Market Risk

Market volatility can impact retirement income.

Strategies to help manage risk include:

• Diversified portfolios
• Cash reserves
• Conservative withdrawal strategies

Final Thoughts

Creating sustainable retirement income requires careful planning and ongoing review.

A well-designed strategy helps retirees maintain financial stability and confidence throughout retirement.

Need Help Planning Your Retirement?

If you’d like help creating a retirement strategy tailored to your goals, consider speaking with a qualified financial professional who can help you develop a personalized plan. We can help you connect with someone in your area if you don't know anyone or where to start. The key is to start and then keep moving!