Congratulations on your retirement! Once you reach this milestone, you’re ready to start withdrawing money from your retirement accounts.

Find Out: I’m a Gen X Retiree: 6 Things I’m Doing Financially Until I Can Receive Social Security

Read Next: 5 Subtly Genius Moves All Wealthy People Make With Their Money

If you’ve never done this before, you mustn’t panic. Money expert Dave Ramsey recently shared seven simple steps for withdrawing money from your retirement account once you’re retired.

Earning passive income doesn't need to be difficult. You can start this week.

Why should you start by working with a financial advisor? According to Ramsey Solutions, an advisor can help you decide the amount of money you should withdraw from your account.

Working with a financial advisor is also helpful for determining which account you want to withdraw money from. There are different guidelines in place for making withdrawals from traditional IRAs, 401(k) plans and Roth IRAs. If you’re uncertain of how to do it or plan to withdraw funds from several accounts, a financial advisor may guide you through the process.

The choices for retirees include receiving the money in one lump sum or through several automatic withdrawals. It’s best to start by reviewing the rules your specific investment account has about withdrawing money.

Be Aware: Avoid This Retirement Savings Mistake That’s Costing Americans Up To $300K

Once you know how much money you want to withdraw and the way you want to receive it, the third step is to contact the financial institution where your retirement account is held. Let them know you’re ready to start withdrawing money from this account. Depending on the financial institution, you may be able to do this in person or begin the process online.

After you confirm that you’re ready to begin withdrawing money from your retirement account, they will take it from there. The financial institution will begin preparing paperwork for you.

Make sure to read through the materials once you receive the paperwork. Ask for clarification if there is something you don’t understand.

Sign and return the paperwork to your financial institution.

During this step, the financial institution will process your paperwork. Finally, they will disburse the requested withdrawal amount.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Dave Ramsey: 7 Steps for Withdrawing Money From Your Retirement Account Once You’ve Retired