Resources vs Goals Analysis
Resources v/s Goals
|
Good to Have |
|
Retirement Living Expenses |
$907,514 |
|
College Fund |
$202,387 |
|
Sports Car |
$61,862 |
|
Long Term Care Policy |
$108,938 |
| |
Vacation Home |
$0 |
|
Retirement Travel |
$108,938 |
|
House Renovation |
$20,635 |
| |
Total Expenses |
$1,410,274 |
|
Nice to Have |
|
Retirement Living Expenses |
$1,134,393 |
|
College Fund |
$354,178 |
|
Sports Car |
$82,483 |
|
Long Term Care Policy |
$0 |
|
Vacation Home |
$247,980 |
|
Retirement Travel |
$119,536 |
|
House Renovation |
$26,531 |
| |
Total Expenses |
$1,965,101 |
Must Have
|
| Total Funds |
$1,278,958 |
| Surplus |
$228,225 |
| Excess Funding |
21.7% |
|
|
|
Good to Have
|
| Total Funds |
$1,278,958 |
| Deficit |
($131,317) |
| Shortfall |
(9.3%) |
Monthly Savings
Required till 2032$882 |
|
Nice to Have
|
| Total Funds |
$1,558,958 |
| Deficit |
($406,144) |
| Shortfall |
(20.7%) |
Monthly Savings
Required till 2032$2,728 |
|
Tax - Advantaged Accounts
| 401 (k) Account |
$ 108,000 |
| John's Roth IRA |
$ 158,000 |
| Brokerage Account |
$467,500 |
|
| Total |
$ 733,500 |
Expected Income
| John's Social Security |
$ 206,913 |
| Jane's Social Security |
$ 160,720 |
| Pension Income |
$ 82,164 |
|
| Total |
$ 449,797 |
Expected Savings
| Monthly Savings |
$ 164,493 |
| Rental Income |
$ 117,284 |
| Consulting Business |
$ 93,884 |
|
| Total |
$ 375,661 |
