Rebecca Murphy is planning for her retirement. She has done some checking and thinks she will get about $1025 a month from social security. She also thinks her pension plan at her work will pay her about $1125 per month. In addition, she has some personal retirement accounts that she thinks will pay her $500 per month. What step in the retirement planning process is Rebecca completing?

A. Analyzing her current assets and liabilities

B. Estimating her spending needs

C. Evaluating her planned retirement income

D. Developing a balanced budget based on her retirement income

Question

Rebecca Murphy is planning for her retirement. She has done some checking and thinks she will get about $1025 a month from social security. She also thinks her pension plan at her work will pay her about $1125 per month. In addition, she has some personal retirement accounts that she thinks will pay her $500 per month. What step in the retirement planning process is Rebecca completing?

A. Analyzing her current assets and liabilities
	
B. Estimating her spending needs
	
C. Evaluating her planned retirement income
	
D. Developing a balanced budget based on her retirement income