Retirement Income Planning FAQs What is retirement income planning? Retirement income planning is the process of determining how much money you will need to live comfortably during retirement and creating a plan to ensure that you have enough income to meet those needs. What are some types of income that can be included in retirement income planning? Some types of retirement income include Social Security benefits, pensions, investment income, and rental income. What are some strategies that can be used for retirement income planning? Retirement income strategies may include delaying Social Security benefits, managing expenses, diversifying investments, and creating a withdrawal plan from retirement savings. What are the pros of retirement income planning? Retirement income planning can help you achieve financial security during retirement, reduce stress and anxiety, and ensure that you can maintain your lifestyle. When should I start retirement income planning? It's never too early to start retirement income planning. The earlier you start, the more time you have to save and invest, and the more likely you are to achieve your retirement goals. About the Author True Tamplin, BSc, CEPF® Facebook Linkedin Instagram Twitter Youtube True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists. True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.