Retirement Budget Planner

Estimate how much you must save for a comfortable retirement with this Retirement Budget Planner template. | Updated:

We work all our life to secure a comfortable life for us and our family. While our current wellbeing may have already been secured, it is very important that we plan for our future financial health. Have you thought about how your day to day consumption would be funded post-retirement? Where would the funds come from? Spreadsheet123 has a powerful template for planning a retirement budget.


The worksheet enables you to use your present and future resources judiciously. Planning for a cozy retirement means considering many factors, such as inflation, earnings, and interest earned on the savings account, rents received on properties, etc. The template has the following two worksheets that help you estimate your retirement financial plan: Retirement Budget and Budget for Inflation.

The Retirement Budget worksheet maintains records of the earnings and spending on a weekly, bi-weekly, monthly, quarterly and annual bases. The spreadsheet helps you plan a secure and modest future.

Retirement Budget Planner

for Excel® 2003+, OpenOffice & Google Docs
Retirement Budget Planner Screenshot
Excel 2003(XP)
File: XLS
Excel 2007 +
File: XLSX
File: OTS
Google Docs
Download via our Add-on!
Template Specifications
Microsoft Excel® 2003 or Higher (PC & Mac)
Not Used
Not Required
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Disclaimer - This template is for educational purposes only. We do not guarantee the results. Use this template at your own risk. You should seek the advice of qualified professionals regarding your Retirement Savings.

Using Retirement Budget Template

The Retirement Budget sheet is broken into various sub-sections to record different types of spending and earnings. The first section helps to calculate the Number of Years available for us to plan the retirement. Enter your Today's Age, Age of Retirement and the sheet automatically calculates the years available to plan for the retirement. The sheet has sub-sections to record the expenses on a weekly, bi-weekly, monthly, quarterly and annual basis. Net amount for each section is also maintained separately. The following sections are there to record information in an organized manner:

  • 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.
  • Housing Cost: describes the housing related expenses, such as rent, maintenance, repairs, insurance and real estate taxes.
  • Personal Expenses: this section records information for managing your expenses, such as grooming, clothing, holidays, auto-expense, auto insurance and others.
  • Daily Living Expenses: this section lists many day-to-day type expenses, such as groceries, entertainment, utilities and telephone.
  • Medical Expenses: as we grow old, our heath declines. We must set aside an augmented budget for prescription drugs and medical insurance.
  • Summary: displays the summarized results for annual retirement income required, estimated incomes and the shortfall.

The Budget for Inflation worksheet is used to calculate the amount considering the rate of inflation that would add each year. It records for the years after retirement, annual budgeted expense and the cumulative value necessary after the retirement age. 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. Planning for your retirement is crucial. Post-retirement the resources become significantly more fixed, therefore limited and the expenses assume what it seems an open-ended nature. To bridge this chasm, we must plan our retirement well in advance.

We recommend that you do not to change or delete the pre-defined formulas of the template, if you do, the entire template may be altered, as the various fields have interconnecting formulas and the results after such changes would lack accuracy.

Excel Function used in this template

  • INDEX(array,row_num,column_num)
  • SUM(number1, [number2], [number3], [number4], ...)
  • IF(logical_test, value_if_true, [value_if_false])

Other Retirement and Savings Resourses

  • How to make a retirement budget? - Believe it or not, a retirement budget leads to more fun in retirement! In addition, making a retirement budget helps you avoid one of the biggest retirement mistakes people make - which is spending too much too soon.
  • Budget models of retirement spending - Budget (or expense) models of retirement spending come in a variety of forms. They all have in common the estimation of total retirement spending by working with estimates of spending in numerous, smaller budget categories.