“Everybody has a plan until they get punched in the face.”

Planning is the easy part. When you’re decades away from retirement, it’s easy to sit in front of your computer admiring a pretty spreadsheet full of projections, hypotheticals and assumptions.

US News &World Report considers three factors to consider about retirement income.

The 4 percent guideline. The 4 percent withdrawal rate is more of a guideline than an actual rule. During retirement, having the flexibility to vary the amount withdrawn from retirement accounts has two distinct benefits. First, it allows a retiree to adapt to changing needs. One year may require more or less capital than the next.

Selecting the investments. Deciding how much to take from retirement accounts is just the beginning. You also have to decide which investments to sell. Part of this decision may be driven by your asset allocation plan.

Taxes. Taxes should always be a consideration. Withdrawals from some retirement funds, like a 401(k) or deductible IRA, are taxed as ordinary income. Distributions from a Roth IRA are tax free. And distributions from investments in a taxable account typically trigger a combination of short and long-term capital gains on a portion of the withdrawal.