Is a retirement planning spreadsheet of any use? If you know how to do a spreadsheet analysis you will probably want to forecast your future using your own homemade spreadsheet. I tried to do that too!
If you are a trained and experienced financial planning expert, your homemade spreadsheet could eventually be very comprehensive and inclusive of all parameters. You could even download from the Internet a spreadsheet offered by an acknowledged expert. But my research showed that most, if not all, spreadsheets fall short of what's required of a comprehensive retirement planner in several categories.
Here are the most common deficiencies:
Your retirement planning spreadsheet should also allow for the risks that retirees face:
On this website we review some retirement income calculators and planners. Before you spend a lot of time on your own spreadsheet, do some research and visit these discussions.
The best spreadsheet I could find was developed by Henry 'Bud' Hebeler. I use it myself. You can download it by visiting this page. The page opens in a new window.
Keep in mind that your spreadsheet, like all other calculators and planners, are merely tools for your edification. To allow you to eliminate uncertainty and to take control of your own retirement planning. To be informed and knowledgeable when you work with a qualified and experienced financial advisor.
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