How It Works

The number one concern of people entering retirement is “Have we saved enough?”

Now that you are about to retire you are going to shift from accumulating money to using the money you have saved to supplement your retirement cash flow needs. Without cash-flow or income you don’t have a retirement. It is your income that will determine your lifestyle in retirement. To answer the question of have we saved enough requires us to understand how much money you plan to spend and what your income sources are. Spending is not smooth in retirement. Some expenses only occur once per year, while others occur monthly. Spending is not static in retirement. Because of inflation the dollars you spend today will not have the same purchasing power in the future. The retirement budget calculator helps you create a budget and spending plan that takes into consideration these nuances. By using the retirement budget calculator you will gain a greater understanding of your expenses in retirement and you will learn how your income and expenses will change over time and how inflation will impact you in the future. Your budget will help you answer the question of “Have we saved enough?”

To use the Calculator, you must first Register, then Sign In.

After you have Signed In, you will be presented with one primary data entry sheet called “Budget Data Entry” and two other sheets, “Quick View” and “Monthly Details”

We have provided you with “template” data on what kinds of data to enter for each section. Click the “+” sign beside each section and complete the entering of the data – clicking the “Save” button as you go (so that your answers are saved).

Once you have completed all of the sections of the “Budget Data Entry” page, you now have a powerful view into your retirement years. Things like Inflation, A monthly view of expenses, and being able to forecast expenses into the future are automatically completed for you. This gives you the “macro view” into your assets and understanding how your budget will grow (or shrink) during your retirement.

The “Monthly Details” view will provide you with a quick way to “ask questions” of your money. For example, based on your budget for a given month, you will be able to apply filters to see how the money needs to flow out of your account for your budgeted spending. This view provides you the peace of mind to see how your net income and budget will be affected month to month. It is also a quick way to run a report to see which expenses are due on the 1st or 15th of the month. You will be able to plan for things like once per year expenses such as property taxes or insurance expenses.

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