Go to an interactive
retirement budget worksheet and divide your estimated retirement expenses into two categories — essential outlays (housing, transportation, insurance, etc.) and discretionary expenditures (travel, entertainment, etc.) Tally each category, and then see how your essential expenses stack up versus what you'll get from Social Security (and a pension, if you receive one).
Not exact matches
Start by getting a handle of your
retirement expenses by going to a good online
budget worksheet.
(For help with estimating
retirement living costs, you can check out this
Retirement Budget Worksheet.)
Retirement Income Planner (and
Retirement Budget Worksheet) With this Fidelity Investments calculator, you can plug in estimated retirement expenses using an interactive budgeting worksheet and run scenarios to see how long your nest egg might last with different combinations of stocks and bonds in both good and poor
Worksheet) With this Fidelity Investments calculator, you can plug in estimated
retirement expenses using an interactive
budgeting worksheet and run scenarios to see how long your nest egg might last with different combinations of stocks and bonds in both good and poor
worksheet and run scenarios to see how long your nest egg might last with different combinations of stocks and bonds in both good and poor markets.
To get a handle on what your post-career expense might be, think seriously about the sort of lifestyle you expect to live in
retirement and then do a
retirement budget by revving up a tool like BlackRock's
Retirement Expense
Worksheet, which allows you to enter more than 50 separate expense items in eight categories to estimate your annual outlays in
retirement.
Something like a student debt payoff calculator or a
retirement planner or even just a basic
budget worksheet would go a long way towards increasing financial literacy.