Estimate your needs in retirement with
the monthly expense worksheet.
See how much income you’ll have in
retirement with the income worksheet.
Estimate your expenses and
income in retirement
PLANNING TOOLS
Your retirement income plan starts here. Use the planning worksheets to estimate your total
monthly expenses and see how your income sources will meet your needs in retirement.
2 TIAA – Retirement expense and income worksheets
Start by listing your current expenses and then adjust the numbers up or down based on your best estimates for
retirement. If you can, list “essential” and “discretionary” (extra) expenses separately. This can help you nd ways to
modify spending if necessary. If you’re not sure what you can afford, start with your ideal scenario. Then, when you see
what your income will be, you can adjust if necessary based on your priorities.
Enter amounts to the nearest dollar. Totals will be automatically calculated for you on page 4.
Estimate your expenses in retirement
Monthly expense worksheet
CURRENT EXPENSES RETIREMENT EXPENSES
Essential Discretionary Essential Discretionary
Home
Mortgage/rent $ $ $ $
Homeowners/renters insurance $ $ $ $
Utilities (electric/oil/gas/water) $ $ $ $
Services (garbage pickup/other) $ $ $ $
Maintenance $ $ $ $
Home improvement $ $ $ $
Internet $ $ $ $
Phone (home/mobile) $ $ $ $
TV (cable/satellite/streaming) $ $ $ $
Other _________________________________ $ $ $ $
Healthcare and wellness
Health insurance/Medicare $ $ $ $
Supplemental insurance $ $ $ $
Co-pays/deductibles/out-of-pocket $ $ $ $
Prescription and over-the-counter drugs $ $ $ $
Dental/vision/hearing costs $ $ $ $
Medical equipment/supplies $ $ $ $
Health club (exercise classes/subscriptions) $ $ $ $
Wellness services (massage/chiropractic/other) $ $ $ $
Long-term care insurance $ $ $ $
Other _________________________________ $ $ $ $
TIAA – Retirement expense and income worksheets 3
Monthly expenses - continued
CURRENT EXPENSES RETIREMENT EXPENSES
Essential Discretionary Essential Discretionary
Transportation
Car payments $ $ $ $
Car/vehicle insurance $ $ $ $
Maintenance/fuel $ $ $ $
Registration, other expenses $ $ $ $
Other (bus/train/taxi/rideshare/bike) $ $ $ $
Extra (boat/RV/etc.) $ $ $ $
Other _________________________________ $ $ $ $
Food
Groceries/meals $ $ $ $
Other _________________________________ $ $ $ $
Personal care
Clothing/shoes $ $ $ $
Hygiene/personal products $ $ $ $
Haircuts $ $ $ $
Other _________________________________ $ $ $ $
Leisure/hobbies/entertainment
Hobbies $ $ $ $
Dining out $ $ $ $
Outside entertainment/sporting events $ $ $ $
Home entertainment $ $ $ $
Vacation/travel $ $ $ $
Education $ $ $ $
Pets (feeding/care/insurance/grooming/etc.) $ $ $ $
Other _________________________________ $ $ $ $
Other _________________________________ $ $ $ $
4 TIAA – Retirement expense and income worksheets
Monthly expenses - continued
CURRENT EXPENSES RETIREMENT EXPENSES
Essential Discretionary Essential Discretionary
Other debt payments
Credit cards $ $ $ $
Home equity loans $ $ $ $
Student loans (self/family) $ $ $ $
Second mortgage $ $ $ $
Other _________________________________ $ $ $ $
Other insurance
Life $ $ $ $
Disability $ $ $ $
Other _________________________________ $ $ $ $
Saving/gifts/donations
Retirement contributions $ $ $ $
Health savings account (HSA) $ $ $ $
529 college savings plan $ $ $ $
Other saving ___________________________ $ $ $ $
Charitable donations $ $ $ $
Holidays/gifts $ $ $ $
Other giving ____________________________ $ $ $ $
Taxes
Federal/state/local income tax $ $ $ $
Property tax $ $ $ $
Capital gains tax $ $ $ $
Other _________________________________ $ $ $ $
Miscellaneous
Memberships/dues $ $ $ $
Other _________________________________ $ $ $ $
Other _________________________________ $ $ $ $
TOTAL EXPENSES $ $ $ $
0
0
0
0
TIAA – Retirement expense and income worksheets 5
Fill in your income sources below to determine how much income you may have for retirement. The “total monthly
income needed” is automatically lled in from your monthly expense worksheet and cannot be lled in manually.
1
For lifetime and other monthly income sources, list the monthly amount you expect to receive. For retirement assets,
list the total value of your savings. Many of these items will change over time, so be sure to review these amounts at
least annually. All items shaded in blue are calculated automatically and cannot be lled in manually.
Estimate your income in retirement
Retirement income worksheet
MONTHLY INCOME NEEDED FROM
RETIREMENT ASSETS
$
TOTAL
VALUE
Retirement assets
Retirement accounts
Employer retirement accounts
3
$
Traditional IRAs $
Roth IRAs $
Other ______________________________ $
Investments
Stocks/bonds/mutual funds/
brokerage accounts
$
Other ______________________________ $
Cash assets to be used for retirement
Savings/money market accounts $
Other ______________________________ $
TOTAL VALUE $
1
If you have not completed the monthly expense worksheet and want to ll in your own number, enter the number in the last eld on
the bottom right of page 4 above the TOTAL EXPENSES row (the “Other” eld under “Miscellaneous” in the Retirement Expenses
column) and the total will ll in automatically.
2
To see your projected lifetime income from a xed annuity, go to the Lifetime Income Calculator at TIAA.org/IncomeCalculator.
3
Includes 401(k), 403(b) and 457(b) retirement plans as well as any lump-sum retirement benets.
TOTAL MONTHLY INCOME NEEDED
(from expense worksheet)
$
MONTHLY
INCOME
Lifetime income sources
Social Security (retirement) $
Social Security (disability/survivor) $
Pensions $
Fixed annuities
2
$
Variable annuities (CREF or other) $
Other _________________________________ $
LIFETIME INCOME TOTAL $
Other monthly income sources
Gross employment income $
Alimony/child support $
Rental income $
Royalties $
Other _________________________________
(e.g., trust income)
$
OTHER MONTHLY INCOME TOTAL $
TOTAL MONTHLY INCOME $
0
0
0
0
0
0
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This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities
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