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Download the Epic Retirement Excel Budgeting Spreadsheet
(valued at $129)
We have built a helpful budgeting tool in Microsoft Excel that you can use to build your epic retirement budget. The budgeting tool is designed to offer you a sensible approach to the creation of your pre-retirement budget, your post-retirement budget and your epic retirement and one-off spending budget.
The template is easy-to-use and leverages the same budgeting line items as those provided in the ASFA Retirement Standard.
When it comes to budgeting for retirement, the mere thought often brings a lack of excitement to most people’s eyes. Who wants to sit down and calculate how much money they can save before retirement or figure out how far their budget can stretch once they retire? Well, let me tell you something: you do! Trust me, one of the keys to an epic retirement is having robust financial confidence as you embark on this new chapter of your life. And that begins with creating not one, but two budgets to guide you along the way.
1. Your Pre-Retirement Budget: Your journey to retirement
Think of your pre-retirement budget as the roadmap to your retirement dreams. It’s all about managing your current cost of living and lifestyle, using your income wisely to cover monthly expenses, pay off debts, and build up your savings. Embrace the opportunity to maximize the benefits of superannuation concessions wherever possible. This budget lays the groundwork for a smooth transition into retirement, ensuring you enter this new phase of life with a solid financial foundation.
2. Your Post-Retirement Budget: Living your retirement dreams
As you step into retirement, it’s time to fine-tune your budget to match your post-retirement lifestyle. Your post-retirement budget becomes your trusted companion, outlining your cost of living and allowing room for those unforgettable experiences you’ve been dreaming of. Consider it your guide to sustaining your desired standard of living, while also accounting for one-off expenses and epic retirement goals. It’s about finding a balance between enjoying your hard-earned savings and ensuring your funds last throughout your potentially 25-30+ retirement years. Your income sources in this budget may include the pension, superannuation income stream, and investments.
