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Retirement income is built by identifying reliable sources that form an income floor, starting with Social Security and expanding as needed.

Taxes on a 401(k) are triggered by withdrawals, including required distributions or income payments, under current rules.

Taxes on a 401(k) are triggered when money comes out, not when you leave a job, and are eventually required under current IRS rules.

A retirement income portfolio focuses on guaranteed income sources rather than market growth to support ongoing income needs.

A retirement income portfolio is built around guaranteed income sources like Social Security, pensions, and annuities to create a reliable income floor.

People age 80 or older may still own annuities if the contract aligns with income or legacy goals rather than market growth.

Annuities may still be used at advanced ages for income or legacy purposes, depending on contractual goals rather than age alone.

Indexed Annuities are fixed annuities designed to compete with CD returns and are commonly used as a vehicle for Income Riders.

Indexed Annuities are fixed annuities created to compete with CDs, but they are often overhyped and misunderstood due to how they are sold.

Annuity policies are funded before issuance, with the option to review specimen policies and cancel during the free look period.

Annuity policies require funding before issuance, but consumers can review specimen policies and cancel for a full refund during the free look period.

Single Premium Immediate Annuities are used to convert accumulated savings into guaranteed lifetime income with no market attachment.

Preparing for retirement on a low income requires discipline, risk reduction near retirement, and focusing on guaranteed income rather than market speculation.

Retirement income is considered income and is generally taxed, with the tax treatment depending on where the income comes from and the type of account used.

It’s not about having a million dollars, it’s about creating income you can’t outlive.