How will retirement impact my living expenses?

Your living expenses may increase or decrease at retirement but will likely not stay the same. You may travel more, reduce business expenses such as eating out and transportation costs, perhaps your house will be paid off. Use this calculator to help compare living expenses now from the day you retire. This will also help you to plan your saving requirements for the day you retire.
Assumptions
Monthly or annual figures? 
Itemized Income
Pre-RetirementPost-Retirement
Wages, salary and tips ($)
Alimony, child support (received) ($)
Dividends from stocks, etc. ($)
Interest on savings accounts, CDs, etc. ($)
Social Security benefits ($)
Pensions ($)
Other income ($)
Itemized Expenses
Pre-RetirementPost-Retirement
Mortgage payment or rent ($)
Vacation home (mortgage) ($)
Automobile loan(s) ($)
Personal loan(s) ($)
Charge accounts ($)
Federal income taxes ($)
State income taxes ($)
FICA (Social Security taxes) ($)
Real estate taxes ($)
Other taxes ($)
Utilities ($)
Household repairs and maintenance ($)
Food ($)
Clothing and laundry ($)
Educational expenses ($)
Child care ($)
Automobile expenses (gas, repairs, etc.) ($)
Other transportation expenses ($)
Life insurance premiums ($)
Homeowners (renters) insurance ($)
Automobile insurance ($)
Medical, dental and disability insurance ($)
Entertainment and dining ($)
Recreation and travel ($)
Club dues ($)
Hobbies ($)
Gifts ($)
Major home improvements and furnishings ($)
Professional services ($)
Charitable contributions ($)
Other and miscellaneous expenses ($)
   
Note: This information is not intended by The Guardian Life Insurance Company of America (Guardian) or any of its affiliates, subsidiaries, employees or agents to be considered tax, legal or investment advice. Any rate of return entered into the calculator to project future values should be a reasonable average return for the period. Actual rates of return will vary over time. Keep in mind that it is possible to lose money and not achieve the objectives of this calculator.

The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. This presentation is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary, and you should consult your tax or legal advisor for guidance and information specific to your situation. Guardian and its affiliates or subsidiaries are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by this calculator. To learn more about Guardian, visit GuardianLife.com.

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