Retirement income strategies are plans designed to help individuals generate a steady stream of income during their retirement years. These strategies often involve a mix of sources, such as Social Security, pensions, and personal savings, including 401(k) and IRA accounts. The goal is to ensure that retirees can cover their living expenses without depleting their savings too quickly. Common approaches include the 4% rule, which suggests withdrawing 4% of retirement savings annually, and annuities, which provide guaranteed income for a set period or for life. Diversifying investments and considering tax implications are also important aspects of effective retirement income planning.