Table of Contents
- 5 Steps to Create a Retirement Budget
- 9+ Retirement Budget Templates
- 1. Sample Retirement Budget Template
- 2. Basic Retirement Budget Template
- 3. Retirement Budget Template Sample
- 4. Printable Retirement Budget Template
- 5. Exemplary Retirement Budget Template
- 6. Detailed Retirement Budget Template
- 7. Simple Retirement Budget Template
- 8. Retirement Budget Template Example
- 9. Formatted Retirement Budget Template
- 10. Professional Retirement Budget Template
9+ Retirement Budget Templates
In the evening of life or while it is close, it is mandatory to plan a retirement budget sheet so that you won’t have to undergo any stress which has the potential to disturb your peaceful retired life. A retirement budget will also ensure that you don’t end up spending your savings on too much luxury.
5 Steps to Create a Retirement Budget
Step 1: Note Down Your Fixed Expenses
There are some expenses that have grown to become a vital part of your life. These essential expenses should always get the top priority in your retirement budget. The expenses that aren’t essential can be adjusted to stretch your budget and fit in all your needs. Therefore, although it isn’t compulsory to divide the expenses are essential and non-essential, doing so will make it easier.
Step 2: Keep Tabs on Health Insurance
There are high chances that your health insurance was maintained by the bank which handles your salary. But when you are retired, this doesn’t happen. You will have to take charge and pick up a plan that suits your lifestyle. The expenses that this service requires needs special attention as your health is of prime importance.
Step 3: Include Optional Activities
Activities or services which are not a part of your daily life falls under this category. These include vacation plans, spa service expenses, plans to surprise someone, etc. The cost of these must be checked before adding them to the budget. Remember to cover the important expenses before deciding on this step. This section can be cut down to adjust the whole budget if any additional expenses come up situationally.
Step 4: Making Adjustments
Your retirement plans affect the budget so certain adjustments will have to be made by looking at your wishes and hobbies you are going to follow. Some people wish to move to the countryside while some wish to reside amid the buzz of the city, so depending on the locality, your expenses might go up or down.
Step 5: Update Regularly
This step is the most important one if you really want to follow the budget. Since life itself is unpredictable, you will have to make changes to the budget constantly. In addition to that, it is natural for your whims to change with time which will also lead to a change of plans which will end up in you altering the existing budget.
9+ Retirement Budget Templates
1. Sample Retirement Budget Template
tiaa.orgThe categorization of the retirement budget is done in an efficient manner in this budget template. Since each category has several subdivisions to it, the user can enter the data easily and make changes to them, whenever required. The use of blue color to highlight details is also a notable feature.
2. Basic Retirement Budget Template
getsmarteraboutmoney.caThe page itself looks attractive and unique since the mild blue color is used. The most special feature of this personal budget template is the comparison between the details of expenses prior to retiring and after retiring. This, in fact, makes understanding the changes and putting them into effect a whole lot easier.
3. Retirement Budget Template Sample
wellsfargomedia.comThis retirement budget sample template looks different but in a good way since colors are attributed to highlight certain aspects of it. All the details are arranged in an elegant manner. Notably, there is a space dedicated to writing down notes which makes this template unique. Also we need a budget planner template which give a plan for everything.
4. Printable Retirement Budget Template
aarp.orgThe color red is used to highlight the title and certain details of this printable budget worksheet. Income details and expenses are arranged in separate tables which provides clarity to the retirement budget. There are separate columns for fixed and flexible expenses allowing the user to manage the budget effortlessly.
5. Exemplary Retirement Budget Template
transamerica.comThe budget worksheet is divided into several sections and there are spaces to note down the monthly and annual expenses of each category. It can be differentiated easily as different colors are used to denote them making it effortless to go through and follow the retirement budget.
6. Detailed Retirement Budget Template
bairdfinancialadvisor.comBy making use of multiple colors to grab the eye of the user to certain details, the retirement budget spreadsheet template allows the user to note down the expenses in a well-arranged manner. There are also columns to mark if the expenses are tax-deductible or not.
7. Simple Retirement Budget Template
intentionalretirement.comThe layout of this retirement budget template is uniform and simple but at the same time effective. The total expenses of each category is denoted in a separate box to make the verification easy. Details of income are also featured in this template in the same format.
8. Retirement Budget Template Example
retirementoptimizer.comThe most notable feature you will see in this retirement budget template and yearly budget template is the existence of checkboxes. The use of tables to present the data renders the budget coherent. The total expenses are noted down in a separate space. The text is arranged to suit the layout of the budget.
9. Formatted Retirement Budget Template
empower-retirement.comThe arrangement of the text is done in a well-arranged manner and each category is differentiated by highlighting the names of each section which is also numbered. The text is formatted by using bold font wherever required allowing the user to curate a relevant and personal simple budget.
10. Professional Retirement Budget Template
health.maryland.govThe details are arranged in a tabular manner designed for quick revisions which also helps in following the budget with hardly any effort. The columns are dedicated for noting down expenses as well as details of income. A separate row is used to total the numbers.This professional retirement decision based on company and company decide by company budget template.
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