Retirement income refers to the money that individuals receive after they stop working, typically when they reach a certain age. This income can come from various sources, including Social Security, pensions, and personal savings or investments, such as 401(k) plans or IRAs. Planning for retirement income is essential to ensure financial stability during retirement years. Many people aim to create a diverse income stream to cover living expenses, healthcare costs, and leisure activities. Understanding these sources helps individuals prepare for a comfortable and secure retirement.