What Exactly is a Retirement Income Plan?

Year after year, in survey after survey, the prospect of running out of money — of falling short of income — ranks among the biggest worries that Americans have about retirement.

Which raises the question: What can people do in advance of retirement to give themselves a greater sense of confidence that their money and assets will last as long as they need them to during retirement?

One critical step they can take is to develop a formal retirement income plan. But before taking that route, it’s important to first understand some things about what a retirement income plan is, what it’s designed to do, and how a person may benefit from having one. Start with this overview, then connect with a CERTIFIED FINANCIAL PLANNER™ (CFP®) professional who can guide you through the process of developing a retirement income plan tailored specifically to you.
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