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Retirement Expenses Worksheet
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Instructions: Fill in highlighted cells with your best estimate of expenses, at current price levels. In column E, enter in the expected annual inflation rate between now and your retirement. In the cell below, enter the number of years until your target retirement date.
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Expected Years Until Retirement:25
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Expected Annual Inflation Rate:3.0%
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HousingEstimate (Today's Dollars)AnnualExpected Annual InflationExpected Annual Cost In RetirementNotes
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Mortgage Payment$0Per Month$03.0%$0If you plan to own your house outright in retirement, this will be $0.
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Property Taxes$500Per Month$6,0003.0%$12,563
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Homeowners Insurance$150Per Month$1,8003.0%$3,769
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Rent$0Per Month$03.0%$0If you own your home, this will be $0
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Maintenance$250Per Year$2503.0%$523
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Home Improvements$500Per Month$6,0003.0%$12,563
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Other Housing Expenses$0Per Month$03.0%$0Add any expenses not explicitly mentioned here.
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Total Housing$1,400$14,050$29,418
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UtilitiesEstimate (Today's Dollars)AnnualExpected Annual InflationExpected Annual Cost In RetirementNotes
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Phone$150Per Month$1,8003.0%$3,769Some of these expenses may be $0, or may be bundled with other utilities.
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Internet$75Per Month$9003.0%$1,884Some of these expenses may be $0, or may be bundled with other utilities.
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Water$350Per Month$4,2003.0%$8,794Some of these expenses may be $0, or may be bundled with other utilities.
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Power$100Per Month$1,2003.0%$2,513Some of these expenses may be $0, or may be bundled with other utilities.
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Trash$45Per Month$5403.0%$1,131Some of these expenses may be $0, or may be bundled with other utilities.
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Gas$0Per Month$03.0%$0Some of these expenses may be $0, or may be bundled with other utilities.
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Other Utilities Expenses$0Per Month$03.0%$0Add any expenses not explicitly mentioned here.
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Total Utilities$720$8,640$18,090
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TransportationEstimate (Today's Dollars)AnnualExpected Annual InflationExpected Annual Cost In RetirementNotes
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Gas$250Per Month$3,0003.0%$6,281
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Car Insurance$100Per Month$1,2003.0%$2,513
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Car Repairs / Replacement$500Per Month$6,0003.0%$12,563
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Public Transportation$0Per Month$03.0%$0
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Other Transportation Expenses$0Per Month$03.0%$0Add any expenses not explicitly mentioned here.
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Total Transportation$850$10,200$21,357
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Health CareEstimate (Today's Dollars)AnnualExpected Annual InflationExpected Annual Cost In RetirementNotes
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Health Insurance$180Per Month$2,1603.0%$4,523
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Medications$200Per Month$2,4003.0%$5,025
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Disability Insurance$150Per Month$1,8003.0%$3,769
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Dental Expenses$150Per Month$1,8003.0%$3,769
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Vision Expenses$150Per Month$1,8003.0%$3,769
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Other Health Care Expenses$200Per Month$2,4003.0%$5,025
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Total Health Care$1,030$12,360$25,879
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Other NeedsEstimate (Today's Dollars)AnnualExpected Annual InflationExpected Annual Cost In RetirementNotes
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Clothing$200Per Month$2,4003.0%$5,025
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Groceries$1,000Per Month$12,0003.0%$25,125
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Life Insurance$50Per Month$6003.0%$1,256
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Other Needs #1$150Per Month$1,8003.0%$3,769
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Other Needs #2$0Per Month$03.0%$0
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Other Needs #3$0Per Month$03.0%$0
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Other Needs #4$0Per Month$03.0%$0
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Other Needs #5$0Per Month$03.0%$0
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Total Other Needs$1,400$16,800$35,175
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Total Annual Needs In Retirement$129,919
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WantsEstimate (Today's Dollars)AnnualExpected Annual InflationExpected Annual Cost In RetirementNotes
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Travel$2,000Per Month$24,0003.0%$50,251
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Dining Out$500Per Month$6,0003.0%$12,563
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Entertainment$500Per Month$6,0003.0%$12,563
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Other Purchases$500Per Month$6,0003.0%$12,563
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Charitable Contributions$500Per Month$6,0003.0%$12,563
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Pet Care$100Per Month$1,2003.0%$2,513
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Gym Memberships$100Per Month$1,2003.0%$2,513
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Other Discretionary Expense #1$100Per Month$1,2003.0%$2,513
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Other Discretionary Expense #2$0Per Month$03.0%$0
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Other Discretionary Expense #3$0Per Month$03.0%$0
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Other Discretionary Expense #4$0Per Month$03.0%$0
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Other Discretionary Expense #5$0Per Month$03.0%$0
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Total Wants$4,300$51,600$108,039
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Total Annual Expenses In Retirement$237,958
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