![]() I’m cautious and as COVID19 is playing havoc with stock markets and interest rates, I’m plumping for a miserable 2.5%. Typically investment planners would work on the basis of 5-7% but that would require you to be investing in quite an aggressive fashion with presumably a high proportion of stock market exposure. AssumptionsĪssumed rate for savings is a gross annual savings figure. Hopefully the configuration details are clear enough but here are a few notes about each section. Here’s the all important combined net worth picture - this is a partnership for the longhaul, afterall.Ĭouples Retirement Planning Spreadsheet - Details If I have pensions or annuities or a state pension, I will still have that income! In order not to ever dip into the red I may just need to cut my cloth a bit and start living within my means at the point at which my net worth runs out. It’s worth noting that I assume my budget will continue at the same rate throughout my retirement which is probably not likely. Underneath the data settings are some charts and a little dashboard showing what age you will be when your pot finally runs out - if indeed it does! Some people wish to ensure there’s a substantial nest egg left to pass onto offspring, while others are content to reach the finish line with only coppers left…. I’ve pre-populated with some example figures (loosely based on my own scenario). At the top there are some cells shaded in khaki where you should fill in all your own details such as planned retirement age, assorted incomes, pension pots, expenditure budgets etc. The Config tabs are where all the action is at. Link to the Couples Retirement Planning Spreadsheet - please just save your own copy rather than asking me for edit access to my version. How to Use the Couples Retirement Planning Spreadsheet The concepts in the FIRE books are still relevant though and I’d recommend them particularly to the younger generation who are concerned about their inability to get on the property ladder - it could be your lifeline to financial freedom. ![]() ![]() ![]() They also drive up their income and probably don’t opt for salary slashing career changes in their mid-life.Īll of which are worthwhile reads for anyone concerned about their finanical future.Īdvice tends to be very US centric though while my spreadsheet will be more useful to UK residents. This concept is compelling and proponents work to drmatically drive down their expenditure using techniques like geopgraphic arbitrage (living abroad) or just general downsizing. If you can save 40 times your annual expenditure you will have achieved financial independence and can retire immediately. It’s perhaps come a bit too late for me to exploit to the full but the concept is simple and pretty inspiring. Inspiration for the Couples Retirement PlannerįIRE or Financial Independence Retire Early is all the rage nowadays. However, if my income improves over the coming years, and why the heck wouldn’t it, early retirement might well be back on the cards. I tend to be a little cautious and would prefer not to see my net worth dipping below zero until I’m at least 100, so it means I won’t likely be retiring before I reach 60. For me it provides some reassurance that we will be ok and that our retirement years do not need to be characterised by hardship in any way. It’s been really useful to see our financial position laid out so clearly. We’ve both incurred some financial shocks in recent years, such as redundancy and financially catastrophic (but mentally rewarding) career changes. When you click on the link please don’t ask me for edit access to my copy - just create your own copy by saving to your own google drive. I’ve made the couples retirement planning spreadsheet available for you all to copy to your own Google Drive so that you can review your combined and individual state of Financial Independence. It enables us to do some scenario planning such as the impact of retirement age or monthly expenditure on our long-term financial stability. I’ve created a google sheets spreadsheet so that my wife and I can track our investment pots, current and future income and our expenditure to determine how long our money will last. Understanding the financial contribution that both parties are bringing to the retirement phase of life can be tricky. Couples choose to manage their individual and combined finances in many different ways, most having individual savings accounts and pension pots acquired from an assortment of jobs.
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