As it pertains to retirement, income planning is the process that you go through with a qualified advisor to build and maintain a predictable income stream and lifestyle in retirement.
Most people have heard of Retirement Planning, which is the long process of saving and investing for one's retirement over the course of their career. But now you're retired... so the next logical step is to build a plan that will gie you the income you want, based on the amount of assets you have and allow you stay retired.
You're unemployed now right? The goal is to stay that way!