In retirement, you can support yourself using various types of income sources, including:

• Social Security benefits providing monthly lifetime payments based on your work history and claim age.
• Pension payments from employer-sponsored defined benefit plans.
• Withdrawals from retirement savings accounts like 401(k)s, IRAs, and Roth IRAs.
• Income from investments such as dividends, interest, and capital gains from stocks, bonds, and mutual funds.
• Annuities purchased to provide a guaranteed steady income, either for a fixed period or life.
• Rental income from real estate property you own and rent out.
• Part-time work or consulting for additional earned income and engagement.
• Other savings and personal investments you have accumulated over time.

These income streams can be combined to create a diversified and stable retirement income portfolio, helping you cover expenses and maintain your lifestyle.

Details of Each Income Type

Social Security:
It provides a baseline monthly income based on your lifetime earnings and when you start claiming (earliest 62, full benefits around 67, increases if delayed to 70). It is meant to supplement retirement income, not to be the sole source. Spouses can also receive benefits based on the worker's record.

Pensions:
Defined benefit plans offered by some employers pay you a fixed monthly amount based on salary and tenure. These payouts can range from 50% to 85% of your pre-retirement income, although pensions are less common now.

Retirement Accounts (401(k), IRA, Roth IRA):
You can withdraw from these tax-advantaged accounts after retirement to fund expenses. The amount depends on how much was saved and invested during your working years.

Investment Income:
Dividends from stocks, interest from bonds, and capital gains can provide additional income streams. This income can fluctuate based on market conditions, so it's often combined with more stable sources.

Annuities:
These insurance products offer steady payouts in exchange for an upfront or periodic premium payment. They minimize the risk of outliving your money but may come with restrictions and costs.

Rental Income:
If you own properties, renting them out can generate a steady cash flow. While managing real estate can require effort, it can be a valuable income source.

Part-Time Work or Consulting:
Many retirees choose to continue working in some capacity for additional income and engagement. This can also affect Social Security benefits and taxes.

Combining these income sources thoughtfully helps manage risk and maintain financial security in retirement.