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Therefore, I developed a simple budget spreadsheet, which is now available to you. It is based on a very simple concept, it follows the same trail that your money does over the course of a year. We start with income, typically in the form of wages. Then remove the pre-tax deductions that never see your bank account. From there we can reasonably calculate how much you are taxed and subtract that out along with any other post-tax deductions from your paycheck. That leaves your take home pay, where you itemize your expenses and watch your balance drop to zero.
In addition, I developed a simple retirement spreadsheet. This was because I was unable to find an online calculator that convinced me that it took the appropriate considerations for inflation, social security (or lack thereof), and pay raises. Or worse, it was unclear about inflation adjusted dollars vs. present day dollars, as you will see this can make a BIG difference when you are looking at decades. If you want to look at the details you can, I have full spreadsheets for each year, inflation adjusted or not. But if you want to keep it simple, just fill in the purple boxes and you will get a chart that shows your retirement saving/spending.
Please note, I am not a Certified Public Accountant. You should consult one for tax and retirement planning issues. These spreadsheets are only a generic guide to give you a long term outlook for retirement. There are probably some mistakes or things I haven't accounted for, or issues simply too complex to include. I appreciate any feedback on these issues and I will try to address them. I have run numbers against various other calculators and believe what my spreadsheets come up with are at least in the right ballpark.