Retirement is the time to relax after a lifetime of working. When you retire, you will need to generate a steady income to maintain your lifestyle without depending on others. You might have done everything right to save for retirement—you started early, maximized your 401(k) plan, and avoided cashing out your retirement plan. But, how do you envision a steady income without having to go to work during your retirement years? This might seem challenging at first. But it’s still possible—if you develop a robust strategy based on your current financial status. To make sure you don’t outlive your savings, here are five retirement income strategies you can use to create the cash flow you’ll need. 1. Buy Immediate Annuities If you want to supplement your retirement savings for the rest of your life, immediate annuities can be your best bet. An immediate annuity is a type of investment that …