Use a Retirement Calculator to have a worry-free retirement
Find out how much money you need to retire and what level of post-tax income you can expect to enjoy in retirement using a retirement calculator spreadsheet set up for UK tax and pension rules. Model your wealth according to ISAs, pensions, general savings and rental properties both whilst you are working and in retirement.
- efficiently plan your taxes to save precious £££
- create an effective robust plan quickly and easily
- achieve your retirement goals and lead an exciting life after work
Model your wealth according to ISAs, state and private pensions, general savings and rental properties both whilst you are working and in retirement.
Model the income of you and your spouse over time including state pension, defined benefit / defined contribution pensions, isas, rental property income and any other income such as side hustles.
This chart also helps to visualise the order of drawdown in retirement, including an “isa bridge” (in yellow) that is used to cover the period between retirement commencing and the availability of private pensions (in green).
The retirement calculator can set different phases of retirement (such as an initial “bucket list” phase) with differing expenditure levels and then model the percentage of your wealth being taken each year compared to a target such as the 4% rule. By allowing for things like the state pension and tax free cash, it can be possible to squeeze more out of your pension.
A version of the retirement calculator is here (with some formulas removed so it is view only).
https://docs.google.com/spreadsheets/d/13lsEjmf1KGAPfHVmm82FUx6oaWZ7fofMUca4JY0PMj0/edit?usp=sharing
Tax planning in retirement is an important way to make your finances go further. A UK retirement calculator spreadsheet is a great way to achieve tax optimisation in retirement.
Analyse your taxes in retirement to see if / when you pay the 40% tax bracket and what you can do to avoid it such as taking money from an isa instead of a sipp or looking at the split of income between yourself and your partner.
Easily compare different scenarios such as retiring a year early or having different levels of expenditure in retirement..
The price is £295 for the spreadsheet as well as a 60 minute video call to explain everything and make sure that you get the most out of it. This is about one tenth the price of a similar service from a wealth planner and not much more than the cost of preparing a tax return. Free updates each April for the new tax year – send me an email to request these.
A series of videos explaining how the retirement calculator works is here https://www.youtube.com/playlist?list=PLvzQbOJosBkTvgwMOIlkya-HO6HTiH_Co
Join over 600 people discussing all aspects of retirement planning in my free community here.
Why Use a Retirement Calculator Spreadsheet?
A spreadsheet is infinately customisable, you can get it to model all your cash flows with ease. It is also transparent, so you can see the formulas and underlying calculations and learn more about how your finances work. You pay once and you can use it forever – no ongoing yearly subscriptions. It will integrate with your annual budget or your analysis of your investment portfolio.
Video Demonstrating the Retirement Calculator
Retirement Calculator Process (next steps – do this)
To start the process of constructing your retirement plan (cost of £295), download the input file, save a copy and input your data, then make the purchase. https://docs.google.com/spreadsheets/d/1FfuT5NNOESSc36UGNlwBnbjLydhu8cO6igjPlq2s0rY/edit?usp=sharing
Or to purchase the file for £150 without coaching, go here https://ianshadrack.com/offer/
Testimonials
I recommend Ian’s coaching and his retirement calculator. Three prior engagements with financial advisors were met only with an inability or unwillingness to answer the questions that Ian’s model can answer.
James Steeley
Emeritus Professor of Finance in the Department of Economics and Finance Brunel University
I’d say that Retirement Calculator is the best, most detailed, most comprehensive that I’ve seen. I love it.
John R Reynolds MSc FPFS CFP Chartered FCSI (Financial Planning) ExpertPensionConsulting.co.uk