Karen is planning for her retirement. She has done some checking and thinks she will get about $1,025 a month from Social Security. She also thinks her pension plan will pay her about $1,125 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 Karen completing? developing a balanced budget based on her retirement income evaluating her retirement housing analyzing her current assets and liabilities estimating her spending needs evaluating her planned retirement income