Retirement budget worksheet - Annual view

.	Retirement Budget Worksheet
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.	The worksheet below can give you a rough idea of how much income you’ll need in retirement and a comparison of living in different cities
.	Note that your expenses in retirement will likely be different from current expenses since your habits and routines are likely to change.
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.	Category or Description	Houston	Cochabamba	Percent
.	.	Annual	Annual	Cochabamba
.	.	Amount	Amount	vs Houston
.
.	Income
1	Social Security
2	Pension(s)
3	Investments
4	Other sources (rentals, etc.)
5	Total income (add lines 1 through 4)	$70,000	$70,000	100%
.	Regular expenses
6	Mortgage or rent	$9,600	$2,400	25%
7	Utilities (Water, sewer, garbage, electricity, natural gas)	$1,596	$0	0%
8	Phone (Fixed line and cellular)	$600	$600	100%
9	Cable TV	$480	$480	100%
10	Broadband internet	$480	$600	125%
11	Food and household supplies	$4,800	$1,200	25%
12	Dining out	$2,400	$1,200	50%
13	Entertainment (Movies, theater, etc.)	$720	$240	33%
14	Transportation (including gas and maintenance)	$3,600	$600	17%
15	Memberships and subscriptions	$360	$180	50%
16	Health insurance premiums	$9,000	$780	9%
17	Other insurance premiums	$1,080	$180	17%
18	Other regular expenses (e.g. lawn care, home cleaning)	$900	$240	27%
19	Minimum payment on credit card debt (largely interest)	$1,068	$1,068	100%
20	Total regular expenses (add lines 6 through 19)	$36,684	$9,768	27%
.	Occasional expenses
21	Out-of-pocket long term care costs (medicines, etc)	$300	$180	60%
22	Out-of-pocket medical, dental, and optical costs	$1,200	$360	30%
23	Travel	$900	$900	100%
24	Home repairs and projects	$480	$240	50%
25	Gifts and other occasional expenses (e.g. clothing)	$1,200	$1,200	100%
26	Total occasional expenses (add lines 21 through 25)	$4,080	$2,880	71%
.	Allocations for onetime expenses expected in a typical year
27	Major gift	$200	$200	100%
28	Major home improvement or second home	$1,000	$1,000	100%
29	Replace car (Cash down payment only)	$1,500	$1,000	67%
30	Other one-time expenses	$300	$150	50%
31	Total onetime expenses (add lines 27 through 30)	$3,000	$2,350	78%
.	Taxes
32	State income taxes	$0	$0	0%
33	State property and sales taxes	$2,000	$0	0%
34	Federal income taxes	$24,000	$24,000	100%
35	Other taxes (incl. currency exchange & fees)	$12	$400	3333%
36	Total taxes (add lines 32 through 36)	$26,012	$24,400	94%
.	Budget Surplus or Shortfall
31	Total expenses (add lines 20, 26, 31, & 36)	$69,776	$39,398	56%
32	Total Surplus or Shortfall (subtract line 31 from line 5)	$224	$30,602	13662%
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.	Total cost of living excluding US taxes	$43,776	$15,398	35%