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Plan to retire! Then follow the plan and achieve your retirement goals!
Retirement planning is necessary and it's never too early to start. Simple Home Finances Retirement toolkit allows you to organize, plan and manage your retirement investments and income so that you can achieve your retirement goals!
Social Security is broke and many pensions are under-funded. The truth is you can't trust the government or your employer to provide for your retirement. You need to have a plan if you want to achieve your retirement goals.
Simple Home Finances Retirement toolit is a retirement planning toolkit designed to plan your retirement before and during retirement. It help's you develop a plan that can actually support the retirement you want!
Planning retirement using this toolkit includes planning and managing:
Retirement projections based on:
- Your current age(s)
- Your projected retirement age(S)
- Your projected life expectancy age(s)
- A projected inflation rate you set
- A projected federal income tax rate you set
- A return rate set for pre retirement savings
- A return rate set for post retirement savings
- A return rate set for each investment account
- Your retirement saving(s)
- Your retirement income(s)
- Your future lump sum income(s)
- Your planned work in retirement
The consumption of savings and income based on:
- Age(s) you want to start withdrawing from your savings and income accounts.
- Using all, some or none of your income in your projections.
- Retirement living costs defined by a budget expressed in today's dollars.
- Inflated living costs using the set inflation rate and your remaining work years.
- Taxes due in retirement based on the set tax rate.
- Taxes are calculated based on these tax types: tax deferred, taxed and tax free.
- Tax Penalties calculated for early withdrawal of tax deferred savings.
- Taxes on income(s) calculated based on these tax types: taxed or tax free.
The Retirement Report and Savings Workbench provide additional capability for planning your retirement.
The Retirement Report provides a complete summary of your retirement financial picture including:
- Planning factors
- Personal Profile(s)
- Estimated and projected savings
- Retirement income projections including; costs, funding and projected earnings
- How long your money will last using just savings or your savings added to your retirement income.
- Retirement funding details show how much is required from savings accounts of each income earner for each year of retirement.
The Savings Workbench Projects your retirement savings based on:
- Using all or some of your current retirement savings
- A monthly savings amount you set
- The number of savings years remaining.
- Allocating your investments by percent against multiple investment types.
Maps your savings projections against savings goals you set for:
- Using only your savings represented by Retirement Spending 1
- Using your retirement income and savings represented by Retirement Spending 2
Allows you to:
- Manage your retirement investment account information, including Provider/Broker and Account information and their web address.
- Update Retirement Planning with updated investment or savings account totals.
- Model 4 different allocation models based on different risk profiles.
- Model various allocations of your investments based on a complete set of equity, bond and cash index returns for the last 3 and 5 years.
Updating this toolkit from the web:
- Your data is maintained in its own file, not just in the workbook.
- An update process will allow you to periodically receive updates.
- Updates include problem fixes, improvements and new features (free of charge!)
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