Retirement Expenses Calculator
When planning for retirement, one of the first things that can be done is determining what expenses might look like in the future. This is done by determining current spending and then calculating what those expenses might look like after being adjusted for inflation. Once future expenses are calculated, the expected payout coming from Social Security can be determined. Subtract the Social Security payout from the inflation adjusted expenses to determine either the budget shortfall (if there are no available investments to draw from) or the withdrawal amount required (if retirement investments are available). The calculator below will let you input your current budget and expected future Social Security payout to determine if Social Security alone will be able to cover your expected expenses in retirement. Only enter information into the yellow highlighted fields. The calculator is pre-filled with an example set of information. You should alter all the ye...