Income Plan - R1 Income Planner

Constance Plan -

YEARS UNTIL RETIREMENT

CURRENT AGE

JOINT PLAN

IF JOINT, CURRENT JOINT AGE

$ *required

Longevity annual budget for core or essential expenses in retirement. These goals largely relate to housing, health care, basic living expenses, and maintaining a basic level of financial independence without becoming a burden to others.(a)

Lifestyle annual expense budget for maintaining desired overall standard of living in retirement. Components of lifestyle may be a bit more discretionary in nature, including items such as travel and leisure, self-improvement activities, social engagement, and helping with financial needs such as tuition for family members.(a)

Subtotal Longevity and Lifestyle annual budgets

Pre-tax income budget using

effective tax rate

Projected annual social security income

Projected annual pension income

Projected other annual guaranteed income

Required annual guaranteed income from portfolio

(a) Pfau, Wade, Safety-First Retirement Planning, An Integrated Approach to a Worry-Free Retirement, Retirement Researcher Media, Vienna, VA, 2019