Deciding when to retire may not be one decision but a series of decisions and calculations.

It's generally a good idea to review your employer-sponsored retirement savings plan at least once each year and when major life changes occur. If you haven't given your plan a thorough review within the last 12 months, now may be a good time to do so.

During your working years, you've probably set aside funds in retirement accounts such as IRAs, 401(k)s, or other workplace savings plans, as well as in taxable accounts. Your challenge during retirement is to convert your savings into an ongoing income stream that will provide adequate income throughout your retirement years.

Doing a few quick projections will help you estimate your present tax situation and identify any glaring issues you'll need to address while there's still time.

Understand the kinds of risk as well as the extent of risk that you choose to take, and to learn ways to manage it.

You've worked hard your whole life anticipating the day you could finally retire. Well, that day has arrived! But with it comes the realization that you'll need to carefully manage your assets to give them lasting potential.