Income that isn’t tied to the stock market can cover your non-negotiable fixed expenses. If you have a pension, compare single-life and joint-and-survivor payout options, and check the health of a former employer’s plan through the Pension Benefit Guaranty Corporation (PBGC). If guaranteed income still falls short of essential expenses, consider whether an annuity could help fill the gap.

Your withdrawal strategy needs to adapt, especially because a market drop early in retirement can do lasting damage (known as sequence of returns risk). Morningstar research puts a safe starting withdrawal rate for a 30-year retirement at about 3.9%, or closer to 5.7% for retirees willing to adjust spending with guardrails. Decide ahead of time when you’ll cut back and when you can spend more, keep 12 to 24 months of spending in cash or cash equivalents, and choose which accounts to draw from first to keep your tax bill down.

Healthcare costs tend to rise as you age. The standard Medicare Part B premium is $202.90 a month in 2026, and higher incomes can trigger IRMAA surcharges on top of that. A 65-year-old couple retiring now may need about $330,000 for healthcare over retirement, not including long-term care, so decide whether you’ll pay for long-term care yourself or use insurance such as a hybrid policy.

Over a retirement that can last decades, inflation and tax changes quietly shrink what your money buys. Check whether your plan includes assets that have historically helped against inflation, such as TIPS or dividend-growth stocks. Know when your required minimum distributions start (age 73 if you were born from 1951 to 1959, or 75 if you were born in 1960 or later), and make sure your account beneficiaries match your current estate plan.