Retirement annual estimator - Everyday Benjamin$
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***INSTRUCTIONS****
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This file is read-only. Go up to the File Menu and select "Make A Copy". You will then save a version to your own Google Drive where you can edit for your own use.
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There are eight columns in this calculator, hopefully they're pretty self-explantory:
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Year:Once you enter the current year in the variables section, the rest will fill out automatically for you.
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Projected Balance:This will take your current balance at the start of the year, and take into account contributions and rate of return
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Contribution Amount:
This will autopopulate to your current amount, from the variables below. You can override the forumlas, if you anticipate different amounts in the future. For example, if you're contirbuting the max to your 401(k) now, but plan on making additional make up contributions when you're 50+, simply make that adjustment.
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Year End Balance:Enter your balance at the end of each year. This will recalculate the projected balance as you go along. You'll have realtime info on your pace based on under or over-performance in the past year.
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YoY Change:The realized percentage increase from the prior year.
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% To Goal:Track your point along the path to your desired goal.
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Optional:
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Original Projections:Once you've entered the variables, you can copy the values from the Projected Balance column into this column. This will allow you to track your progress over the years against your original estimations. These will change and fluctuate from year to year, so you might find this of interest.
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To do this, hightlight all the cells, right click, select "Copy". Highlight cell H2, right click, select "Paste -> Paste Special -> Paste Values Only
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+/- OriginalA comparison between where you are and where you originally projjected you'd be.
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***VARIABLES****
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Enter in these amounts based on your real numbers. You can play with the rate of return based on your own portfolio allocation. You can also change this to see how a bull or bear market might affect your numbers
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Current Year:2018
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Portfolios Balance at start this year:
$0.00
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Current Contribution Amount:$18,500.00
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Estimated Rate of Return6.00%
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Savings Goal:$1,000,000.00
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***TIDBITS****
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There are plenty of retirement calculators out there, but I wanted something that where I could both see the future and chart my real progress. I want to see where I'm going and where I've been.
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Should you find this useful and want to share it with others, I would appreciate you sharing the tools page on the web site, to ensure someone is getting the most up to date version
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