If your retirement years are on the horizon and you’re starting to take planning for this time seriously, you’ll naturally focus on the total amount you’ll need. But there’s another way: Break down your retirement into monthly income from Social Security, retirement savings, and other sources. Considering retirement in monthly terms makes the planning process easier to understand and better matches not only how you’re used to living today but also how you’ll actually live in retirement as you continue to pay your bills. When you think in terms of a monthly retirement income, you’ll have a more realistic view of how much your current savings will generate in retirement. This can help you make better decisions in planning.