You can set an expected inflation rate and the table would automatically calculate the annual budget and the cumulative amounts at the given inflation rate for each year after the retirement. It records for the years after retirement, annual budgeted expense and the cumulative value necessary after the retirement age. The Budget for Inflation worksheet is used to calculate the amount considering the rate of inflation that would add each year.
Medical Expenses: as we grow old, our heath declines.Daily Living Expenses: this section lists many day-to-day type expenses, such as groceries, entertainment, utilities and telephone.Personal Expenses: this section records information for managing your expenses, such as grooming, clothing, holidays, auto-expense, auto insurance and others.Housing Cost: describes the housing related expenses, such as rent, maintenance, repairs, insurance and real estate taxes.Retirement Income Sources this section lists the possible sources from which the income would be earned at the time of the retirement, such as Social Security Income, Company Pension, Investments, Rental Income, Annuity Income and other retirement plans.The following sections are there to record information in an organized manner: Net amount for each section is also maintained separately. The sheet has sub-sections to record the expenses on a weekly, bi-weekly, monthly, quarterly and annual basis. Enter your Today's Age, Age of Retirement and the sheet automatically calculates the years available to plan for the retirement. The first section helps to calculate the Number of Years available for us to plan the retirement.
The Retirement Budget sheet is broken into various sub-sections to record different types of spending and earnings. You should seek the advice of qualified professionals regarding your Retirement Savings. Disclaimer - This template is for educational purposes only.
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