Financial Planning for Retirement Workbook

Worksheet 2 – Estimated Annual Cost of Living

Fill in the first column with what you are now spending annually to live. Then figure the

Inflation Factor by following the steps listed above the Inflation Factor table on page 7. Fill

in the inflation factor in the second column. (You may do this only for the total, or for each

category of costs.) Multiply column 1 by column 2 to get an idea of the income you will need

during your first year of retirement.

Household operation and maintenance

$ $

Automobile and transportation

$ $

$ $

Clothing

$ $

Personal

$ $

Medical and health $ $

$ $

Irregular expenses

(ex. gifts, license plates, holiday spending,

etc.)

$

$

ANNUAL TOTAL $ $