All of your career, you have been used to a paycheck coming in, and now in retirement that paycheck is gone. You have to create your own paycheck from your own resources, and that can feel quite unsettling. Social Security is uncertain and may be insufficient, and the days of private company pensions are nearly gone—replaced, for many people, by tax-deferred retirement plans, 401(k)s. Upon retirement, some fortunate people find themselves with a pile of money to manage somehow.

Imagine boarding a jet and heading to your seat, only to be told you are needed in the cockpit to fly the plane. That is what has happened in our workplace retirement system over the last 30 years. We have shifted from pension plans managed by professional financial pilots to 401(k) plans managed by passengers. You fuel the plane, you pilot the plane, and you land it. According to a 2014 research study conducted by the American College, 80% of respondents with nest eggs of at least $100,000 in assets, got an “F” on a test about managing retirement savings. It’s no surprise that many people are crashing.

In this post-pension era, you have to create your own cash flow. You have to take that pile and make it last for the rest of your life. Wondering how? Read up on retirement planning strategies. Start with a free chapter of Distribution Land (www.distributionland.com). You need to know some of the different ways to create an income stream so that you may feel more confident about your financial situation. And, you might consider adding the help of a professional co-pilot in a effort to land safely at your destination.