Retirement income worksheet

Use this interactive worksheet to estimate your total monthly income in retirement and determine whether it will meet your financial needs.  After you've entered your estimated income for each category, as well as your income tax rates and estimated monthly expenses, click Calculate at the bottom to see how much you'll need to withdraw from your investments each month.  You can print this worksheet to save for future reference, but your data will not be saved online.

To estimate your monthly expenses, use our retirement expense worksheet.

Monthly income sources
 You Your Spouse
Social Security $ $
Pension $ $
Employment income $ $
Rental income $ $
Veteran's benefits $ $
Other $ $
Taxes and expenses
Federal income tax rate %
State income tax rate %
Local income tax rate %
Estimated monthly expenses
(excluding taxes)
Total pre-tax
monthly income
Total monthly
income tax liability
Total after-tax
monthly income
Monthly income
surplus or (shortfall)

If you're projected to have an income surplus, consider putting this extra money to work for you by investing it. Learn more about creating your investment strategy.

If you're projected to have an income shortfall, you will need to draw money from your investments to cover the difference. If your investment portfolio is not sufficient, you may need to supplement your income or trim your expenses—or both. Learn more about tapping your assets or bridging a gap in your retirement savings.

Calculations in this worksheet are based on the total tax rates (federal, state, and local) that you enter. The tax rates or taxable amount of some income sources, such as Social Security, may be different and your personal tax rate may vary. We recommend that you consult a professional tax or financial advisor about your individual situation.