Financial Planning for Retirement Workbook
Financial Planning for Retirement Workbook • CFS-685-W
Purdue extension
• Introduction
3
• Your Retirement Lifestyle
3
• Your Current Financial Situation
4
• The Inflation Factor
7
• Changes in Spending Patterns
After Retirement
8
• Planning for Future Inflation
8
• Planning for Large Future
Irregular Expenses
8
• How Much Are You Worth?
11
• Estimating Retirement Income
11
• Where to Go for Information
18
• Balancing Income with Expenses
18
• Increasing Income
18
• Reducing Expenses
22
• Medicare and Other Health Insurance
22
• Housing Expenses
23
• Looking Ahead
23
• References
25
• Credits
25
Financial Planning for Retirement
Workbook
Revised and updated by Janet C. Bechman, Purdue Extension specialist, and
Barbara R. Rowe, Utah State University Cooperative Extension specialist,
based on North Central Regional Extension publication 264 by Irene Hathaway,
Michigan State University
Worksheets
Worksheet 1 – Your Retirement Lifestyle
5
Worksheet 2 – Estimated Annual Cost
of Living 6
Worksheet 3 – Estimated Changes in Spending
After Retirement 9
Worksheet 4 – Estimated
Annual Cost of
Living 10 Years After Retirement 12
Worksheet 5 – Large Future Irregular
Expenses 13
Worksheet 6 – How Much Are You Worth?
14
Worksheet 7 – Estimated Annual Income
After Retirement 19
Worksheet 8 – Estimated Annual Income
10 Years After Retirement 20
Worksheet 9 – Monthly Cost of Living
Worksheet 24
Tables
Table 1. The Inflation Factor
7
Table 2. Expectation of Life by Age
and Sex
10
Table 3. Age to Receive Full Social
Security Benefits 15
Table 4. Benefit Increases for
Delayed Retirement 16
Table of Contents
Page 2/25
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Financial Planning for Retirement Workbook PDF
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