Estimate your expenses and income in retirement.

Estimate your needs in retirement with

the monthly expense worksheet.

See how much income you’ll have in

retirement with the income worksheet.

Estimate your expenses and

income in retirement.

Your retirement income plan starts here. Use the planning worksheets to estimate your

total monthly expenses and see how your income sources will meet your needs

in retirement.

RETIREMENT PLANNING TOOLS

EXPENSE WORKSHEET INCOME WORKSHEET

2 TIAA – Retirement expense and income worksheets

Start by listing your current expenses and then adjust the numbers up or down based on your best estimates for

retirement. If you can, list “essential” and “discretionary” (extra) expenses separately. This can help you find ways

to modify spending if necessary. If you’re not sure what you can aord, start with your ideal scenario. Then, when

you see what your income will be, you can adjust if necessary based on your priorities.

Enter amounts to the nearest dollar. Totals will be automatically calculated for you on page 4.

Estimate your monthly retirement expenses.

RETIREMENT EXPENSE WORKSHEET

CURRENT EXPENSES RETIREMENT EXPENSES

Essential Discretionary Essential Discretionary

Home

Mortgage/rent $ $ $ $

Homeowners/renters insurance $ $ $ $

Utilities (electric/oil/gas/water) $ $ $ $

Services (garbage pickup/other) $ $ $ $

Maintenance $ $ $ $

Home improvement $ $ $ $

Internet $ $ $ $

Phone (home/mobile) $ $ $ $

TV (cable/satellite/streaming) $ $ $ $

Other _________________________________ $ $ $ $

Healthcare and wellness

Health insurance/Medicare $ $ $ $

Supplemental insurance $ $ $ $

Co-pays/deductibles/out-of-pocket $ $ $ $

Prescription and over-the-counter drugs $ $ $ $

Dental/vision/hearing costs $ $ $ $

Medical equipment/supplies $ $ $ $

Health club (exercise classes/subscriptions) $ $ $ $

Wellness services (massage/chiropractic/other) $ $ $ $

Long-term care insurance $ $ $ $

Other _________________________________ $ $ $ $

TIAA – Retirement expense and income worksheets 3

CURRENT EXPENSES RETIREMENT EXPENSES

Essential Discretionary Essential Discretionary

Transportation

Car payments $ $ $ $

Car/vehicle insurance $ $ $ $

Maintenance/fuel $ $ $ $

Registration, other expenses $ $ $ $

Other (bus/train/taxi/rideshare/bike) $ $ $ $

Extra (boat/RV/etc.) $ $ $ $

Other _________________________________ $ $ $ $

Food

Groceries/meals $ $ $ $

Other _________________________________ $ $ $ $

Personal care

Clothing/shoes $ $ $ $

Hygiene/personal products $ $ $ $

Haircuts $ $ $ $

Other _________________________________ $ $ $ $

Leisure/hobbies/entertainment

Hobbies $ $ $ $

Dining out $ $ $ $

Outside entertainment/sporting events $ $ $ $

Home entertainment $ $ $ $

Vacation/travel $ $ $ $

Education $ $ $ $

Pets (feeding/care/insurance/grooming/etc.) $ $ $ $

Other _________________________________ $ $ $ $

Monthly expenses - continued

4 TIAA – Retirement expense and income worksheets

CURRENT EXPENSES RETIREMENT EXPENSES

Essential Discretionary Essential Discretionary

Other debt payments

Credit cards $ $ $ $

Home equity loans $ $ $ $

Student loans (self/family) $ $ $ $

Second mortgage $ $ $ $

Other _________________________________ $ $ $ $

Other insurance

Life $ $ $ $

Disability $ $ $ $

Other _________________________________ $ $ $ $

Saving/gifts/donations

Retirement contributions $ $ $ $

Health savings account (HSA) $ $ $ $

529 college savings plan $ $ $ $

Other saving ___________________________ $ $ $ $

Charitable donations $ $ $ $

Holidays/gifts $ $ $ $

Other giving ____________________________ $ $ $ $

Taxes

Federal/state/local income tax $ $ $ $

Property tax $ $ $ $

Capital gains tax $ $ $ $

Other _________________________________ $ $ $ $

Miscellaneous

Memberships/dues $ $ $ $

Other _________________________________ $ $ $ $

TOTAL EXPENSES $ $ $ $

Monthly expenses - continued

TIAA – Retirement expense and income worksheets 5

Fill in your income sources below to determine how much income you may have for retirement. For lifetime and

other monthly income sources, list the monthly amount you expect to receive. For retirement assets, list the

total value of your savings. Many of these items will change over time, so be sure to review these amounts at

least annually.

Note: The “total monthly income needed” is automatically filled in from your monthly expense worksheet.

This and all items shaded in blue on this page are calculated automatically and cannot be filled in manually.

Estimate your income in retirement.

RETIREMENT INCOME WORKSHEET

Call 888-380-6424 to talk to a TIAA Retirement

Income Consultant about how you can create an

income plan that works for your retirement.

To estimate lifetime income from an annuity,

go to tiaa.org/incomecalculator.

MONTHLY INCOME NEEDED FROM

RETIREMENT ASSETS

TOTAL

VALUE

Retirement assets

Retirement accounts

Employer retirement accounts

Traditional IRAs $

Roth IRAs $

Other ______________________________ $

Investments

Stocks/bonds/mutual funds/

brokerage accounts

Other ______________________________ $

Cash assets to be used for retirement

Savings/money market accounts $

Other ______________________________ $

TOTAL VALUE $

1. If you have not completed the monthly expense worksheet and want to fill in your own number, enter the number in the last field on the bottom right

of page 4 above the TOTAL EXPENSES row (the “Other” field under “Miscellaneous” in the Retirement Expenses column) and the total will fill in

automatically.

2. To see your projected lifetime income from a fixed annuity, go to the Lifetime Income Calculator at tiaa.org/incomecalculator.

3. Includes 401(k), 403(b) and 457(b) retirement plans as well as any lump-sum retirement benefits.

TOTAL MONTHLY INCOME NEEDED

(from expense worksheet)

MONTHLY

INCOME

Lifetime income sources

Social Security (retirement) $

Social Security (disability/survivor) $

Pensions $

Fixed annuities

Variable annuities $

Other _________________________________ $

LIFETIME INCOME TOTAL $

Other monthly income sources

Gross employment income $

Alimony/child support $

Rental income $

Royalties $

Other _________________________________

(e.g., trust income)

OTHER MONTHLY INCOME TOTAL $

TOTAL MONTHLY INCOME $

The TIAA group of companies does not provide legal or tax advice. Please consult your legal or tax advisor.

This material is for informational or educational purposes only and is not fiduciary investment advice, or a securities, investment strategy, or insurance product

recommendation. This material does not consider an individual’s own objectives or circumstances, which should be the basis of any investment decisions.

Investment, insurance, and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not

insured by any federal government agency, are not a condition to any service or activity, and may lose value.

Investment products may be subject to market and other risk factors. See the applicable product literature, or visit tiaa.org for details.

TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued by

Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible

for its own financial condition and contractual obligations.

GBR-3779365PO-E1225P (08/24)