Retirement Planning Spreadsheet example

Scarum

The lessons I've learned in developing a spreadsheet for retirement have developed my IQ for sure!  I've set all important numerical values as named ranges, I'm using lookup tables e.g for income tax, and over the past year I've leaned VBA macro scripting and have developed some rather nifty processes which optimises the best drawdown values and investment allocations each year.  Of course, the output is only as good as the input but I feel positive the results look viable.

sgx2000

Scarum said:

The lessons I've learned in developing a spreadsheet for retirement have developed my IQ for sure!  I've set all important numerical values as named ranges, I'm using lookup tables e.g for income tax, and over the past year I've leaned VBA macro scripting and have developed some rather nifty processes which optimises the best drawdown values and investment allocations each year.  Of course, the output is only as good as the input but I feel positive the results look viable.

Now thay just makes us mere mortals  feel stupid....lol

FIREDreamer

Scarum said:

The lessons I've learned in developing a spreadsheet for retirement have developed my IQ for sure!  I've set all important numerical values as named ranges, I'm using lookup tables e.g for income tax, and over the past year I've leaned VBA macro scripting and have developed some rather nifty processes which optimises the best drawdown values and investment allocations each year.  Of course, the output is only as good as the input but I feel positive the results look viable.

Care to share a copy (with dummy values instead of actuals)?

sgx2000

FIREDreamer said:

Scarum said:

The lessons I've learned in developing a spreadsheet for retirement have developed my IQ for sure!  I've set all important numerical values as named ranges, I'm using lookup tables e.g for income tax, and over the past year I've leaned VBA macro scripting and have developed some rather nifty processes which optimises the best drawdown values and investment allocations each year.  Of course, the output is only as good as the input but I feel positive the results look viable.

Care to share a copy (with dummy values instead of actuals)?

Me too please.....

Apricota

Hi, would also love a share of your sheet please.

Scarum

My spreadsheet was designed around my household circumstances (i.e. it is highly personalised) and it started simple from collating what pensions I had, then figuring out how inflation and likely growth rate impacted on future values.  It then evolved in to a bit of a beast when I started macros and I can’t design it backwards now so, unfortunately the spreadsheet is not generalised and wouldn’t be suitable to share and impossible to tame!  Although I’m happy to share tips.

Would it be worthwhile starting a thread for contributors to share ideas and pose questions in the use of spreadsheets and other retirement software tools?

bolwin1

Just one quick comment here - downloading spreadsheets from unknown users, especially ones that use VBA macro scripts, are a great way of getting viruses / malicious code on your PCs. No criticism / suspicion at all towards Scarum, but something to be aware of if you are looking on the wider internet for spreadsheets. 

CashFlowCaptain

I too am looking for a planner spreadsheet even though I fall into that category of an employee who has failed to really put enough effort into the biggest life decision I probably ever make.

My circumstances sound a lot simpler than previous posters, however I still need help forecasting my pension income month by month so I can make an informed decision about a retirement date.

My circumstances are : 

• 40 years of LGPS since leaving school
• Savings that are being taxed on interest (should really put these into ISAs)
• Mortgage & CC Free

Only slight complication would be building in my wife's situation as she is 8 years younger, with a shorter LGPS.

Can anyone guide me as to what factors I need to build into a month by month spreadsheet so I can forecast any dips in income between next year, into state pension and beyond?

Many thanks.

cfw1994

cfw1994 said:

I’ve always had my own, which generally looked at things at a higher level, year by year.

Before stepping away from the day job 3½ years ago, I had discovered https://whatapalaver.co.uk/tag/retirement, which I felt was a decent spreadsheet, & it broadly confirmed I was okay taking the leap.

Now I am this far in, I have a more detailed one on google sheets.
I have a row per month.   

Next up, there are several columns for our various income streams (2 x SP, we have 3 other small DB ones that plus more for the early FIT solar generation 4 times a year).  Those things kick in at different times over the next 7 years, so I then get one column which summarises “passive income”.
Then I have more columns showing my DC pot, ISAs, etc….& where we will chose to draw from.

The nice thing for us is that by the time the last SP kicks in for us, we should need relatively little from those other pots, so we can potentially “front load” things whilst healthy. 

Feels like the right way to manage things for us.  I imagine that is what a detailed financial planner would come up with.

@alistairgd: 

Have you tried any of the sheets mentioned in this thread?  One I mentioned above…

Ultimately, I *personally* feel people need to ‘grow their own’ - that way they will really understand the timeline in their terms, but I would start playing with some of the ones here.

Oh, & start moving those savings into ISAs TODAY - you & your partner can put £20k EACH this side and next side of April 5th - there’s £40k tax free you can immediately shelter!

CashFlowCaptain

cfw1994 said:

cfw1994 said:

Before stepping away from the day job 3½ years ago, I had discovered https://whatapalaver.co.uk/tag/retirement, which I felt was a decent spreadsheet, & it broadly confirmed I was okay taking the leap.

@alistairgd: 

Have you tried any of the sheets mentioned in this thread?  One I mentioned above…

Yes thank you. I am trying to use this sheet but may need to request some help.