In this episode, Matt discusses Chapter 4 of Ironclad Retirement and explains how the traditional three-legged stool of retirement—Social Security, personal savings, and a pension—has changed. With many employers replacing pensions with 401(k)s and other defined contribution plans, much of the responsibility and risk of funding retirement has shifted to the individual. Matt explains how retirees can potentially rebuild that missing third leg by using a portion of their retirement savings to create a private pension and dependable lifetime income, helping provide greater security, reduce financial stress, and give retirees more confidence to enjoy the money they worked hard to save.