As a soon-to-be or recent retiree, your goal is to ensure a successful, happy retirement and avoid running out of money.

Two pressing questions that will determine your circumstances are:

1. How long can you live and support yourself (and your family) until the nest egg empties?
2. What is the financial strategy behind a sustainable retirement plan?

Author and New York University Professor, Moshe Milevsky, wrote the book, “The 7 Most Important Equations for Your Retirement.” In his book, he used seven mathematical equations to address seven areas that impact financial security in retirement.

In your 30s and well into your 60s, accumulating wealth and saving money is one of your primary goals. It’s the time in your life when you are focused on meeting the needs of your living expenses, building a financially stable foundation, and implementing your savings plan for emergency situations – and for your future.

During that time, you’re working toward daily living, experiencing all life has to offer within your means, and creating wealth and longevity through your short and long-term investments. That stage of the financial cycle is known as wealth accumulation.

During retirement, you switch your focus from wealth accumulation to income distribution. You carefully shift spending to support your ideal lifestyle instead of being focused on savings. Now, your income is directly related to how hard you and your portfolio have worked through the past few decades and it’s your time to enjoy the “workless” lifestyle.

With this evolution in mindset and change in lifestyle, it is important to understand some basics of retirement income distribution. Concepts such as minimum distributions, age restrictions, and tax implications will affect what you do and how you do it.

When you’re just beginning your career, retirement may be the last thing on your mind. Then, next thing you know, you’ve hit the age when you’re ready to wrap up your career and sail into the enjoyment of your golden years.

As you arrive at those crossroads, here are five retirement questions you should be asking – and answering – that will help you navigate those waters.