Quick Summary
The FinancialAha Retirement Financial Planning Spreadsheet offers a practical way to organize retirement planning - from projections to goal tracking - all in one place.
The Retirement Financial Planning Spreadsheet is a Google Sheets template that projects retirement savings growth, models income sources, and shows whether current savings are on track. Here’s what it does and how to set it up.
Wondering calculator vs template? See Retirement Template vs Calculator for when each tool fits.
What the Template Covers
| Section | What It Does |
|---|---|
| Income & Contributions | Tracks current income, 401(k)/IRA contributions, employer match |
| Expense Projections | Models retirement expenses with inflation adjustments |
| Savings Growth | Projects portfolio growth across conservative/moderate/optimistic scenarios |
| Income Sources | Maps Social Security, pension, rental, part-time work income streams |
| Goal Tracking | Shows progress toward target retirement age and savings amount |
| Asset Allocation | Visualizes current investment mix vs target allocation |
Setup Walkthrough
Step 1: Enter current financial data. Income, retirement account balances, annual contribution amounts. Use actual numbers from your most recent statements.
Step 2: Set your assumptions. Expected return rate (5-7% after inflation is a common range), inflation rate (2-3%), and target retirement age. The template lets you run all three scenarios at once.
Step 3: Define retirement expenses. Estimate annual spending in retirement. A starting point: 70-80% of current pre-retirement spending, adjusted for changes (no commute, more travel, higher healthcare).
Step 4: Map income sources. Enter expected Social Security benefit, any pension, planned withdrawals, and other income. The template shows how these sources combine year by year.
Step 5: Read the projection. The template calculates whether projected income covers projected expenses through your expected retirement length. A gap means adjustments are worth exploring.
Example Scenario
| Input | Value |
|---|---|
| Current age | 35 |
| Current savings | $120,000 |
| Annual contributions | $18,000 |
| Employer match | $6,000 |
| Expected return | 6% (after inflation) |
| Target retirement age | 62 |
| Annual retirement expenses | $55,000 |
Projection result: At 6% returns, $120K growing with $24K/year in contributions for 27 years reaches approximately $2.1M. At a 4% withdrawal rate, that’s $84,000/year - well above the $55K expense target.
Adjusting to a 5% return changes the projection to roughly $1.7M - still $68K/year at 4% withdrawal. Running both scenarios shows the range.
Spreadsheet vs Software vs Advisor
| Approach | Cost | Control | Customization |
|---|---|---|---|
| Spreadsheet template | One-time purchase | Full - see every formula | Complete - edit anything |
| Financial software (Boldin, ProjectionLab) | $10-15/month | Moderate - prebuilt models | Limited to provided options |
| Financial advisor | $1,000-5,000+/year | Low - they run the numbers | Varies by advisor |
The spreadsheet approach works well for people who want transparency - seeing exactly how projections are calculated and being able to adjust any assumption directly.
Related
- Retirement Calculator: How Much Do You Actually Need? - The math behind retirement targets
- Retirement Template vs Calculator - Which tool for which purpose
- Big Improvements to Our Retirement Planning Spreadsheet - Latest template updates
- Retirement Financial Planning Spreadsheet - Get the template
- Financial Planning Template - Broader financial planning beyond retirement