Retirement Budget Estimate

This tool will help you create a budget in retirement so that you can create a savings plan today.

An important component to your retirement planning is to determine your expected expenses in retirement and then determine what income level is required to fund those expenses. Use this tool to help determine an expected retirement budget by estimating your retirement expenses. (Use your current income and expenses as a guide.) You will then be able to see what level of income will be required in retirement to meet your expenses without a deficit. After you know your estimated required retirement income, you can use one of the other tools to create a savings plan to help ensure that you will have enough income in retirement to meet your needs.

Enter your information below and press "Calculate" to see your results.

Retirement Budget Estimate Worksheet
Annual Income
Current Year
In Retirement
   Your Wages or Salary
$
$
   Spouse's Wages or Salary
$
$
   Dividend and Interest Income
$
$
   Pension Payments
$
$
   Social Security Income
$
$
   Rental Income
$
$
   Other Income
$
$
 
Total Income
 
Annual Taxes
Current Year
In Retirement
   Income Tax:
      Federal, State, & Local--You
$
$
      Federal, State, & Local--Spouse
$
$
   Social Security & Medicare Tax:
      You
$
$
      Spouse
$
$
      Property Tax
$
$
   Other Taxes
$
$
 
Total Taxes
 
Annual Expenses
Current Year
In Retirement
   Housing:
      Mortgage Payments or Rent
$
$
      Utilities (Gas, Electric, Phone)
$
$
      Household Maintenance
$
$
      Furniture & Appliances
$
$
   Insurance:
      Life
$
$
      Health & Dental
$
$
      Disability
$
$
      Homeowner
$
$
      Automobile
$
$
      Other Insurance
$
$
   Debt Repayment:
      Car Payments
$
$
      Personal Loans
$
$
      Credit Cards
$
$
   Health Care:
      Medical
$
$
      Dental
$
$
      Optical
$
$
      Drugs
$
$
   Savings
$
$
   Food/Beverage/Groceries
$
$
   Day Care
$
$
   Education
$
$
   Clothing
$
$
   Transportation:
      Gasoline
$
$
      Car Maintenance/Repairs
$
$
      Public Transportation
$
$
      Parking
$
$
   Entertainment & Recreation
$
$
   Vacation
$
$
   Personal Care:
      Dry Cleaning
$
$
      Beauty Salon/Barber
$
$
      Other Personal Care
$
$
   Financial & Legal Services
$
$
   Charitable Contributions
$
$
   Gifts
$
$
   Newspapers/Subscriptions
$
$
   Other Expenses
$
$
 
Total Expenses
 
(+)Surplus or (-)Deficit
Current Year
In Retirement
Income less Taxes & Expenses




The calculators provide hypothetical examples and are not intended to represent past or future performance of a specific investment which cannot be predicted or guaranteed, or to provide specific advice to any individual. Rates of return will vary over time. Those investments offering a higher rate of return also involve a higher degree of risk.