Retirement income refers to the earnings one receives after they have retired from active employment. There are various synonyms for the phrase, which include pension, annuity, revenue, stipend, compensation, allowance, and remuneration. These words describe the regular income that individuals receive after they have stopped working. It is essential to consider having multiple income streams in retirement, and one can earn this from investments, a part-time job, or a business. Retirement income also determines the standard of living that one will have in their post-employment years, making it essential to plan and make appropriate financial decisions to ensure a comfortable retirement.