On today's episode of Our 2 Cents, we're focusing on 5 key steps of income planning in retirement. In order to develop a proper plan for your retirement income, these are some of the first steps to follow to begin taking charge of your retirement cash flow.

1. Mastering Your Retirement Income Planning:
   • Step 1: Accurate budgeting is at the core of income planning
   • Step 2: Visualize your future and how you will live in retirement
   • Step 3: Identify your floor income sources and any shortfalls
   • Step 4: Create "Now," "Soon," and "Later" buckets of money
   • Step 5: Utilize appropriate strategies to generate income from investments