Retirement Planner in Excel

retirement-planner-in-excelRetirement planner in Excel will help you calculate your savings at the time of retirement. The Excel retirement planner takes in to consideration your monthly income, expenses, asset purchase over time, saving allocations and expectations of interest rates and asset appreciation to calculate the growth of your savings over a given period. You can download the retirement planner in excel here.
All of us worry about the impeding retirement. How much will I be able to save? Will my savings last me a lifetime? At what rate should I invest my savings so that they keep on generating returns that beat inflation even after I retire? How much asset base will I be able to accumulate before I quit my job? Does buying a new house help my finances in the long run or does it destroy wealth.

Features of the retirement planner

1. Incorporates your (and your spouse’s) present income and the growth in income over a given period of time till the time you retire.
2. Factors in the growth in expenses in the future including those related to buying a car, buying a house, kids, house rent, lifestyle and other miscellaneous ones.
3. Takes your account big ticket asset purchases like a house or a car over a period of time
4. Includes your estimates of inflation and rates of appreciation of various assets in the future.

Once you plug in all these input values, the retirement planner will show you both the graphs and the data that indicate how your savings, income, asset base and expense will look like over a period of time.

What can you do with this retirement planner?

1. Analyze your asset base and funds available at the time of retirement.
2. Know if those funds will be sufficient to last your entire lifetime given the expenses.
3. Know how much you’ll need to save to be able to meet your retirement goal
4. Plan and time big ticket asset purchases so that you generate an optimal return and avoid being strapped for cash during those purchases
5. Check if the purchase of a particular asset has a positive impact on your finances or does it simply eat away into your retirement funds. (You can also use the same feature to check what the financial impact of having to give a loan to someone.)
6. Check if you had a sudden bequest from a family member, how much that would help you financially.
7. Know how much you’d need to reduce your monthly expenses so as to be able to meet your financial goals. On the flip, you can also check if an increase in an expense can materially impact the funds you would have saved at the time of your retirement.
8. Simulate your asset growth by under various interest rate and inflation scenarios.
9. See if a change in allocation of savings into different classes helps increase the returns on your investments.
10. Ascertain the impact of future events like marriage, child birth etc on your finances.

This retirement planner should be able to take care of financial planning for an average person. However if you find it useful or if there is any feature that you would like to be included in the retirement planner, please leave a comment or mail me with your thoughts and I will try incorporating the same.

Excel Formula, Excel Chart, Excel Macro, Excel VBA, Pivot Table Excel, Excel Dashboard

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