Hey everyone! Thanks for stopping by our website today. We are very excited to share with you, our treasured readers, this free Retirement Budget Planning Worksheet. Everyone on the planet should have this tool to show them how to budget for retirement. We have been using our Retirement Budget Planning Worksheet religiously throughout our retirement planning phase. Now you can, too.
WHAT DOES THE RETIREMENT BUDGET PLANNING WORKSHEET LOOK LIKE?
We are introducing this as our new “GIVEAWAY” when visiting our website and joining our mailing list. Whether you’re new to Wish to Retire or have been on our mailing list for some time now and want your own copy, just click the button below.
You’ll get a PDF version to print and write on by hand, as well as a Retirement Budget Planning Worksheet for EXCEL that has all of the formulas programmed for you. The PDF also includes some instructions to clarify the use and intention of a few items.
HOW DOES THE RETIREMENT BUDGET PLANNING WORKSHEET WORK?
The first column lists all your income and expense items. You will see that we have been general while trying to capture all the ways you can earn or spend.
The second column is to use for your BEFORE retirement numbers. That is, what are you currently spending and earning. That’s the place you’ll start.
The third column, then, is for what your budget will look like AFTER you retire. What’s great about this worksheet is you can see both side by side during your planning phase.
Many people we’ve talked to don’t even have a budget. Some live paycheck to paycheck. Others put money into savings, but spend the rest without any idea where their money is going. What better time than now to start using a budget or tweeking your current budget to possibly save more and retire sooner! You can use this tool for that as well.
WHAT YOU CAN DO WITH THE RETIREMENT BUDGET PLANNING WORKSHEET?
One of the things we see most often when folks are getting ready to retire is that they haven’t planned appropriately. Now you can plan for your retirement with a helpful tool. If utilized early enough and as intended, you may even be able to retire sooner!
The best thing to do is GET STARTED. Fill in the numbers for your CURRENT monthly expenses and income. To do this, you may need to gather bank statements and credit card statements. If you make a lot of cash purchases, you should keep and record receipts.
This process may be the hardest for some people, especially those who don’t balance their check book. With so much automation now, paperless statements, etc., you may feel overwhelmed. Don’t let this stop you! Get started today!
You can also take this worksheet to your financial planner. He or she will be impressed that you have gone to this much detail in planning for your future.
So, don’t delay! Get your free Retirement Budget Planning Worksheet today.
HOW DO I KNOW WHAT TO PUT IN FOR AFTER RETIREMENT?
Great question. We don’t have a crystal ball or anything to predict the future. But, if you’re like us, you want to be in control of your retirement destiny. You will want to take today’s value for things and place it in that column.
This AFTER column isn’t meant to be done overnight. Think through what you want your retirement to be like. Where do you want to live, what things can you live without, what things do you want more of?
Perhaps you know that your house will be paid for, so your housing entry will be LESS In retirement. Maybe you know that you’ve always dreamed of traveling once you retire, so your vacation/travel entry will need to be larger.
We hope you will find this Retirement Budget Planning Worksheet a helpful tool for you now and into the future. We encourage you to get started with your planning now. If you’re already doing a budget, then filling in the BEFORE columns will be a breeze. If not, this is a fantastic exercise to get you organized.
Embrace this process, even if it takes a while. Your future could depend on it. You might find your retirement is closer than you think.
We’d love to hear your feedback on how this works for you. Feel free to reach out if you have any questions or suggestions.