Apr 18, 2014
Home| Tools| Events| Blogs| Discussions| Sign UpLogin

Retirement Income and Expenses

February 8, 2010
By: Kevin Spafford, Farm Journal Columnist
 
 
Download this tool in PDF format.
Do you know how much retirement will cost you? Do you know if your income will meet your expenses? Financial security depends on an honest assessment of what you're likely to have and what you expect to need. Use the worksheet below to capture your estimated retirement income and expenses.
 
 
Expenses
Specific Item
Current Expenses
Retirement Expenses
Housing:
Mortgage Payment / Rent
 
 
Utilities
 
 
Home Maintenance
 
 
Property Insurance
 
 
Property Taxes
 
 
Association Fees
 
 
Home Furnishings
 
 
Seasonal Expenses (snow, pool?)
 
 
Food and Household:
Groceries
 
 
Household Supplies
 
 
Clothing and Personal Care:
Clothing Purchases
 
 
Dry Cleaning / Laundry
 
 
Salon/ Personal Care
 
 
Transportation:
Car Payments
 
 
Car Insurance
 
 
Fuel/Repairs/Parking
 
 
Public Transportation
 
 
Other Insurance:

 
Life
 
 
Liability (Umbrella)
 
 
Long-Term Care
 
 
Medical Expenses:
Health Insurance
 
 
Medicare
 
 
Deductibles / Unreimbursed Expenses
 
 
Prescriptions / Vitamins
 
 
Entertainment/Recreation:
Vacation and Travel
 
 
Holidays
 
 
Meals Out / Entertainment
 
 
Clubs and Recreation
 
 
Charitable Contributions:
Church, Other Donations
 
 
Debt Repayment (other than Housing and Auto):
 
Credit Cards / Bills
 
 
Installment Notes
 
 
Rental / Investment Property
 
 
Other Debt
 
 
Miscellaneous Expenses:
Education
 
 
Gifts
 
 
Elder and Respite Care
 
 
Pet Care (food, vet, board)
 
 
Domestic Help
 
 
Alimony / Child Support
 
 
Club Dues / Organizations
 
 
Subscriptions
 
 
Other
 
 
Totals
 
 
 
Projected Retirement Expenses:
 

 

 

Summary
 
Projected Retirement Income:
 
Projected Retirement Expenses:
            <                            >
Difference:
 
 
 
 

 

Income
 
Current Income
Retirement Income
Earned Income:
Husband
 
 
Wife
 
 
Retirement Plan / IRA Distributions:
Husband
 
 
Wife
 
 
Social Security Benefits:
Husband
 
 
Wife
 
 
Rent Income:
 
 
 
Interest Income:
 
 
 
Dividend Income:
 
 
 
Other Income:
 
 
 
Other Cash Receipts:
Sale of Assets
 
 
Alimony/Child Support
 
 
Trust Distributions
 
 
Other
 
 
Totals
 
 
 
Projected Retirement Income:
 


 

See Comments


 
Log In or Sign Up to comment

COMMENTS

No comments have been posted



Name:

Comments:

Ask Kevin

Hot Links & Cool Tools

    •  
    •  
    •  
    •  
    •  
    •  
    •  

facebook twitter youtube View More>>
 
Legacy Newsletter
 

Follow Us

Facebook Twitter You Tube
 
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions