Chuck Henrich, Owner and President of Southwest Michigan Financial, LLC discusses how to build a solid retirement income plan.
KALAMAZOO, MI / ACCESS Newswire / August 13, 2026 / For most Americans, hitting retirement age is the reward for decades of hard work. Yet one of the biggest challenges retirees face isn't simply accumulating savings-it's turning those savings into a dependable stream of income that lasts as long as they do.
Retirement income planning is the process of mapping out how your Social Security benefits, pension plans, investments, and savings will cover your living expenses once you stop working. The goal is simple: create a sustainable, tax-efficient source of income that allows you to enjoy your retirement lifestyle while protecting yourself from inflation, market volatility, and life's unexpected challenges.
As retirement researcher Moshe Milevsky, professor of finance at York University and a leading authority on retirement income, has often noted, retirement is not merely an investment problem-it's also an insurance problem. Retirees must protect themselves against risks they cannot predict, including how long they will live, future inflation rates, market performance, and often the largest exposure a retiree has, a long-term care situation.
