What is a retirement budget worksheet?


Quick Answer

A retirement budget worksheet is a tool that helps retirees estimate and plan for their expected expenses during retirement, as noted by the U.S. Department of Labor. It helps individuals identify fixed and flexible expenses that can be adjusted to allow for the retirement lifestyle the retiree desires.

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Full Answer

Some pension plan policies allow retirees to make additional withdrawals in the first five years of retirement. This increases the opportunity for spending too much too soon, Bankrate states. The retirement budget worksheet is designed to help prevent retirees from overspending. The budget factors in an individual's current expenses, future outlays, and shows if there is enough money in the budget to cover them.

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