1. Decide at what age you wish to retire and how long your life expectancy is.

2. Determine how much you want to spend annually during your retirement, recognizing that your spending may change over different phases of your retirement. Estimate in "today's dollars".

3. Approximate the amount of your TIAA-CREF annual income at retirement. This can be done by making an appointment with the Retirement Information and Planning and bringing to your appoint- ment your most recent quarterly report.

4. Determine when you will begin Social Security and how much, on a yearly basis, that will mean to your annual income. If you have not asked Social Security for a print out of income projections for you and your spouse, call the Social Security Administration at 1-800-772-1213.

5. Calculate the current value of all other savings (IRA's, savings, and investments) and determine how much annual income you might expect to receive from each fund.

6. Decide the amount of any financial reserve you wish to maintain or the amount you wish to leave behind to your heirs.

7. Decide whether you would reinvest any income that exceeds your spending needs in any year of your retirement.

8. Consider any additional income sources you may have such as working part-time during retirement, receiving inheritances, etc.

You might wish visit with a certified financial planner to help you complete these steps.