These are the five simple but important steps that decide your ability to live the life you want in retirement:
1. Determine how much you need to spend to live a life you enjoy.
2. Make the most of income sources other than your savings.
3. Decide how much risk you are comfortable with.
4. Figure out how much income you need your savings to generate every year.
5. Identify how much you want to leave to your heirs.
More advice on how to create an income plan from your savings.