Answer: A diversified retirement income portfolio refers to a strategy where an individual invests their retirement savings in a variety of assets and income streams to minimize risk and generate a steady income during retirement.

Answer: Creating a diversified retirement income portfolio is important because it helps to mitigate the risk of relying on a single source of income during retirement. By spreading investments across different asset classes, such as stocks, bonds, real estate, and annuities, individuals can protect themselves from market volatility and ensure a more stable and reliable income stream.

Answer: Some examples of assets that can be included in a diversified retirement income portfolio are stocks, bonds, mutual funds, real estate investment trusts (REITs), rental properties, annuities, and dividend-paying stocks. These assets offer different levels of risk and potential returns, allowing individuals to create a balanced and diverse income portfolio.

Answer: To start creating a diversified retirement income portfolio, it is advisable to seek professional financial advice. A financial advisor can help assess your financial goals, risk tolerance, and time horizon, and recommend suitable investment options. It is important to consider factors such as asset allocation, diversification, and regular review of your portfolio to ensure it aligns with your retirement income needs.