Rethinking Income When You Retire: No Paycheck, No Problem

An older, relaxed-looking couple stand together at the railing of a cruise ship. .

The way you receive income changes in retirement. Instead of earning a paycheck every other week from an employer, a large portion — if not all — of your income in retirement will be derived from your assets. But if you don’t change your financial strategy, you could risk outliving your savings.

Step No. 1: Create an income plan