Retirement involves a lot of changes, from how you spend your time to how you budget your money. If you are ready to retire, you have probably spent decades diligently squirreling away money. When you retire, you will have to dole that money out just as carefully. Many new retirees have trouble making the transition from saving to spending. It is difficult to tell how long a nest egg might last, and making a mistake in the early days could wreak havoc throughout a decades-long retirement. Experts recommend that pre-retirees take a step-by-step approach to the retirement income planning process. It is easy for workers to assess their income sources and expenses, but retirees have a more difficult time determining how much money will be coming in and how much will be going out.