By chronologically completing these steps, you will get your metaphorical ducks in a row as you approach retirement. The scarcity of company pensions, a historically low interest rate environment, and high market volatility make retirement planning more important than ever. There is no simple or easy way to fund your lifestyle for the rest of your life. You need to be smart, deliberate and strategic with your financial decisions. Transitioning into retirement is more than leaving your job and living off of your savings. It involves new decisions about health insurance, Social Security benefits, income, risk tolerance, and your future financial goals and legacy. Perhaps most importantly it marks the shift between earning and saving money to distributing and spending your savings and investments. This paradigm shift between the accumulation and distribution phases of your financial life is one of the most challenging financial puzzles you will ever have to face.