Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
budget spreadsheet change 2
Old 01-29-2006, 06:59 PM   #1
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
budget spreadsheet change 2

I changed the spread sheet. I added an area that calculates taxes and takes into consideration the effect of income on the taxation of Social Security. You can now enter your budget, inflation adjustments and see what effect it will have on your ability to retire over the next 35 years. I also wrote some instructions. You can download the spreadsheet, instruction or both at the website below.

http://www.class68d.org/bsi.htm

The tax calculation is for married filing jointly MFJ. You can make changes for some other status. Also, I only have tax figures up to the top of the 25% bracket. For MFJ that is a little over $119,000. Sorry I figure if you have more income without SS you most likely don’t need the use of this spreadsheet.

Please let me know what you think. If you have questions you don’t want to put here email me at jtcspc@houston.rr.com

Mistake in the Tax calculations. Good news it was figuring too much tax. I think I have it corrected.

__________________

__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: budget spreadsheet
Old 01-29-2006, 07:31 PM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Re: budget spreadsheet

I'll leave it to those more qualified on the forum to respond to your request to evaluate your spreadsheet. But I have to confess to being intrigued by your call sign and doing a little snooping on the web address you gave. Laughlin AFB Class 68D. That was a long time ago and a very interesting experience.

REWahoo, Columbus AFB Class 71-07

__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: budget spreadsheet
Old 02-05-2006, 02:31 PM   #3
Recycles dryer sheets
 
Join Date: Nov 2004
Posts: 283
Re: budget spreadsheet

Rustic23 - Altus'65 summer camp and rotc '67 commissioning here...* Lots of USAFers on this forum.* Welcome to this forum!

I downloaded your Financial Forecasting Model spreadsheet yesterday.* It took me a while but I got the hang of it finally and I like it!* So far, I added a couple columns and a couple Charts so it would better-match the way my mind works.* *I added a column in the Top row 4-43 cells to combine Savings and Checking because some what-ifs resulted in high checking balances along the way which I wanted to track in one place.* I also added a column in the same row 4-43 set of cells to subtract the expenses from the four incomes and then divide by the sum of savings and checking;* this is to indicate the level of %withdrawal - to me, when the withdrawals of total savings* exceeds a number above 4-5% or so then that's an indicator of an out-of-control situation.

I added two charts which just showed the top 4-32 row cells from the Model to show the trends.*

I backed up the beginning years of the chart so that I could see the progress of real data from the past few years and compare trends to the forecasted data.*

Originally, I was wondering why you fully taxed the withdrawal amount but thought about it and decided that much of it would either be fully taxed RMDs or taxed on 3-4% dividends anyway, so I think you were fiscally conservative in the Est Taxes column.

I liked the spreadsheet - have been doing a bunch of what-ifs with it today and still think that I'll be able to retire!!!*

DW and I formally retired 3 years ago and are loving it.* Jump in, the water's fine.

Best regards
JohnP


__________________
Dad's Dream; to have enough money someday to live the kind of life my wife and kids do...
Life is what happens while you are making other plans... John Lennon...
the more you look, the more you see...
JohnP is offline   Reply With Quote
Re: budget spreadsheet
Old 02-05-2006, 09:26 PM   #4
Dryer sheet aficionado
 
Join Date: Sep 2002
Posts: 26
Re: budget spreadsheet

What do you mean by "retire again" in May Rustic23?
Did you try it before? And if so, what made you go back to the workforce?
__________________
Rosalita is offline   Reply With Quote
Re: budget spreadsheet
Old 02-13-2006, 06:56 PM   #5
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
Re: budget spreadsheet

I 'retired' three times. Each time something came along that brought me back to the workforce. I think I could have made it each time, but they were interesting offers, and I had fun doing them.
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Portfolio tracking spreadsheet justin FIRE and Money 8 06-28-2010 05:01 AM
Spreadsheet for calculating life of retirement assets tlg501 FIRE and Money 2 03-12-2007 01:09 PM
Budget Spreadsheet daverph FIRE and Money 1 11-10-2006 03:06 PM
budget saving income spreadsheet Rustic23 FIRE and Money 4 04-22-2006 07:22 PM
Oil Change (A Little Long) Wife Sent to me, she thought it was cute poboy Other topics 21 03-30-2006 08:15 PM

 

 
All times are GMT -6. The time now is 04:32 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.