Plan Your Spending for Every Life Phase
Create detailed or simple budgets for different stages of retirement. Track debts, plan one-time expenses, and see exactly how your spending needs evolve over time.
Start Your Free TrialSpending Changes in Retirement
Your spending at 65 won't be the same as at 85. Many retirees spend more in early retirement on travel and hobbies, then less as they slow down, then more again on healthcare in later years.
- Create budget phases for different life stages (working years, early retirement, later years)
- Choose simple budgets (one monthly amount) or detailed category breakdowns
- Track debts like mortgages, car loans, and credit cards
- Plan one-time expenses (home renovation, new car, wedding gifts)
- See how spending changes affect your retirement timeline
Simple or Detailed - Your Choice
Not everyone wants to track every expense category. Choose the approach that works for you:
- Simple budgets: Just enter a single monthly spending amount. Quick and effective for planning.
- Detailed budgets: Break down spending by category (housing, food, healthcare, etc.) for more accurate planning.
- Mix and match: Use detailed budgets for phases you understand well, simple for others.
- Adjust anytime: Start simple and add detail as you refine your plan.
Plan for Debt Payoff
Many people enter retirement with mortgages, car loans, or other debts. Track them all and see when they'll be paid off:
- Mortgages: Track balance, payment, and payoff date. Plan for selling or downsizing.
- Auto loans: See how car payments affect early retirement cash flow.
- Student loans: Yours or helping kids - include all education debt.
- Credit cards: Plan to pay off high-interest debt before retiring.
- HELOCs: Home equity lines with variable payments.
Plan for One-Time Expenses
Retirement isn't just about monthly spending. Major one-time expenses can significantly impact your plan:
- Home improvements: Renovations, new roof, accessibility modifications
- Vehicles: New cars every 8-10 years
- Family events: Weddings, milestone birthdays, helping children
- Travel: Dream vacations, bucket list trips
- Healthcare: Major procedures, long-term care
Frequently Asked Questions
How much should I budget for retirement?
A common starting point is 70-80% of your pre-retirement income, but it varies widely. Some expenses decrease (commuting) while others increase (healthcare, travel). Our planner helps you think through each category.
Should I pay off my mortgage before retiring?
It depends on your interest rate, other debts, and peace of mind. Our planner shows you scenarios with and without mortgage payments so you can compare the impact on your cash flow.
How do I account for inflation in my budget?
We automatically apply your chosen inflation rate. A $6,000/month budget today becomes $7,200 in 10 years at 3% inflation. You see spending in both today's and future dollars.
What about healthcare costs in retirement?
Healthcare often increases faster than general inflation. You can set medical-specific inflation rates or create separate budget phases that reflect higher healthcare spending in later years.
Start Planning Your Retirement Budget
Create budgets for every life phase and know exactly what you'll need.
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