To do that, you'll want to go through a rigorous
retirement - income planning process that starts with thinking seriously about how you'll live in
retirement and then moves on to such
tasks as making a
retirement budget; assessing different strategies
for claiming Social Security benefits; considering whether you want more guaranteed income than Social Security alone offers (which is where an annuity might play a role); and, settling on a withdrawal rate that has a reasonable shot at making your
savings last as long as you do.