Create your own personal financial plan with this free excel-based financial planning template.
Ever since I made my first retirement calculator, I have had several requests to make an integrated financial plan creation tool.
The only reason I took this long to make it is sheer boredom. I thought, since I had already made most of the calculators found in a financial plan, it would be boring from a mathematical point of view to put it all together. How wrong I was!
I have always wanted to make a financial planning template with a one-page input and one-page output. A template in which all future cash flow entries are displayed on a single cash flow chart.
I have managed to pull if off, except for the one-page input part, as I have realised that would make it too cluttered and clumsy. Making the integrated cash flow chart turned out to be pretty exciting and at times exhausting.
Do excuse the crummy sounding title. There are certain things a blogger must do to get a search engines attention!
That quite enough blah-blah. Without further ado, here are the features of the financial planning template:
- Create a financial plan for retirement, 5 non-recurring financial goals (child’s education, marriage etc.) and 2 recurring financial goals (vacation, annual medical tests etc.)
- Calculate the life insurance needed for financial independence of your family after your time. Important goals like children’s education and marriage are also accounted.
- The life insurance calculator has a clear set of instructions for the nominee as to how the insurance sum should be invested. It would be useful if a set of such instructions are found inwill of the insured.
- Retirement calculator with the possibility to include two passive income streams in employment (rent, dividend/business income) and in retirement (pension, rent)
- Recurring and non-recurring financial goals calculator. You can assign a priority to each goal and determine the feasibility of achieving each goal relative to retirement (number 1 priority) and to each other.
- Integrated cash flow chart which accounts for income, expenses, EMI, investment and pension schedule
- Cash flow summary to analyse the feasibility of retirement – the number one financial goal and other goals relative to retirement and to each other.
- One-page report this contains all the results serves as quick reckoner for initiating an action plan
Important
- A financial plan is a just a piece of paper if you don’t act on it
- You will need to review the financial year once a year.
Requests
- Feedback, suggestions for improvement and requests for specific modifications are welcome.
- If you are a member of the financial planning community, I will be delighted if you could help me tweak this tool and make it better.
- Please do share this post with your friends and colleagues.
Download the financial planning template
Latest version: Updated Jan. 15th 2016. Integrated Financial Planning Template Corrected an error in the insurance sheet as pointed out by Guru Rudagi.
Hey, my new book with Subra(money.com), You can be rich with goal-based investing is now available at Flipkart for Rs. 359/- only! Pre-order now!
Change log
Updated Dec. 3rd 2014. Analysis sheets added. Update: Integrated Financial Planning Template
Updated Aug. 23rd 2014. Thanks to Mr. Ashok Kumar Anand for pointing an error in the way passive income was handled.
Updated Dec. 6th 2014. Thanks to Ms. Vandhana Rajendran and Mr. Ashok Kumar Anand for pointing out bugs.
Update April 4th 2014. Thanks to Ms. Aparna for pointing out a bug in the retirement planning sheet.
Update April 24th 2014. Thanks to Ms. Aparna again for pointing out a bug in the retirement planning sheet!
You Can Be Rich Too
My new book with PV Subramanyam, published by CNBC TV 18
The book comes with 9 online calculator modules to create your own financial plan.
It also has detailed selection guides for equity and debt mutual funds.
Amazon Discount: 50% off – ₹198 (limited period offer)
Kindle (₹ 244.30)
Infibeam ₹ 280 with Coupon BS10
Googe Play Books App Store (₹ 244.30)
Read a Sample Chapter and Buy Now!
What Readers Say
- Simple and powerful This book empowers the reader with the concepts in easy to understand & simple form. Those who have been reading blogs of both authors would know that they are not only good with finance domain but also have a knack of simplifying the methods of investing for their readers. This book by them is a gem of financial knowledge for people who are starting to invest or want to get better at it. The presentation and the thought process with calculators is extremely powerful.The book should be read & calculators used simultaneously to understand the concepts well. The calculators when used with real inputs will show you where you are & where you need to reach for each of your goals. Don’t ignore these numbers.Learnings from Chapters 7 to 11 will help you avoid going off path & saving your money from financially hazardous products. With discipline & right approach suggested here you wouldn’t need a financial advisor to build wealth.
- This is perfect book on personal finance. Very nicely explained about taxation about debt mutual fund. Topics like early investing and asset allocation are very well explained. – Mahesh Deshmukh
- Highly Recommended For anyone who wishes to take control of his/her finance this book is a must read. Very simply put, even an amateur in finance will be able to understand and implement. The author genuinely attempts to inculcate the habit of investing among the people who have the ability to invest but refrain from doing it, either due to lack of time , interest or understanding!. The message from the book is ” Investment done without setting a goal/ objective is like leaving for a trip without knowing the destination, not everytime the end result will be promising. Hence, it’s important to invest in a planned & disciplined manner.” A read is highly recommended ????
- A must book for everyone who wants to take control of personal finance. Nice explanation of how a debt mutual fund works. Bonds trading and indexation benefits in high inflation years were something new I learnt. After reading this book you will be able to easily choose any funds, because you will know what that fund does or how that fund works
Read all reviews here: Amazon Reviews
Create a "from start to finish" financial plan with this unique open-source robo advisory software template
❖
About the Author
M. Pattabiraman is the co-author of two books: You can be rich too with goal based investing and Gamechanger. “Pattu” as he is popularly known, publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis, including a robo advisory template for use by beginners. Contact information: freefincal {at} Gmail {dot} com He conducts free money management sessions for corporates (see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints.Content Policy
Freefincal has original unbiased, conflict-of-interest-free, topical reports, reviews, commentary and analysis on all aspects of personal finance like mutual funds, stocks, insurance etc. All guest authors and contributors to the site also do not have any conflict of interest. If you find the content useful, please consider supporting us by (1) sharing our articles and (2) disabling ad-blockers for our site if you are using one. No promotional content. We do not accept sponsored posts and link exchange requests from content writers and agencies. This is our privacy policy Our website is non-profit in nature. The revenue from the advertisement will only be used for hosting charges, domain registration charges, specific plugins necessary for traffic growth and analytics services for search engine optimisation.Connect with us on social media
- Twitter @freefincal
- Subscribe to our Youtube Videos
- Posts feed via: Feedburner
Do check out my books
You Can Be Rich Too with Goal-Based Investing
My first book is meant to help you ask the right questions, seek the right answers and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now. It is also available in Kindle format.Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
My second book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at low cost! Get it or gift it to a young earnerThe ultimate guide to travel by Pranav Surya
This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step. Get the pdf for ₹199 (instant download)Free Apps for your Android Phone
All calculators from our book, “You can be Rich Too” are now available on Google Play!Install Financial Freedom App! (Google Play Store)
Install Freefincal Retirement Planner App! (Google Play Store)
Find out if you have enough to say "FU" to your employer (Google Play Store)
Really Great dear Pattu.
Really Great dear Pattu.
Ahhh pattu… finally you have pulled it off. I am yet to try it. But the very fact that you have put this together is so heart warming especially when you belong to a non-finance core and you do not expect to monetize your work. I can imagine the effort that would have gone into this and your other calcs. You are far ahead of our tribe. Hats off to you…
Ahhh pattu… finally you have pulled it off. I am yet to try it. But the very fact that you have put this together is so heart warming especially when you belong to a non-finance core and you do not expect to monetize your work. I can imagine the effort that would have gone into this and your other calcs. You are far ahead of our tribe. Hats off to you…
Many thanks Sreekant. It is rare to find someone in the FP community as generous as you are.
Many thanks Sreekant. It is rare to find someone in the FP community as generous as you are.
Thanks Ashal.
Thanks Ashal.
Thank you sir, really Great work.
Thank you sir, really Great work.
Thanks Pattu for putting the thigns together. Just love the work. Shared this work sheet with all friends and relatives. Going to use this work sheet.
Thanks Pattu for putting the thigns together. Just love the work. Shared this work sheet with all friends and relatives. Going to use this work sheet.
pattu, i just wanted to flag a few points: 1.u r not having any provision for including gratuity/ leave encashment one would get at the time of retirement ., there is provision for any additional lump sum income such as shares from parents that could come down the line. 3the plan only provides for a family with one earning member.
pattu, i just wanted to flag a few points: 1.u r not having any provision for including gratuity/ leave encashment one would get at the time of retirement ., there is provision for any additional lump sum income such as shares from parents that could come down the line. 3the plan only provides for a family with one earning member.
Dear Sunder, thanks for the suggestions. Yes, the proposed changes can be made but that ‘ll only create more complicated structure. Personally you know me very well that I’m firm believer of KISS – keep it simply simple. hence I’m more than happy what I’m getting from current calculator from dear Pattu. 🙂
Thanks
Ashal
Dear Sunder, thanks for the suggestions. Yes, the proposed changes can be made but that ‘ll only create more complicated structure. Personally you know me very well that I’m firm believer of KISS – keep it simply simple. hence I’m more than happy what I’m getting from current calculator from dear Pattu. 🙂
Thanks
Ashal
Many thanks. Do let me know if you have any issues.
Many thanks. Do let me know if you have any issues.
Thank Sunder. This kind of template is typically many years away from retirement. Therefore is best for someone like that to ignore lump sum benefits. Similarly if both husband and wife intend to work until retirement and hope to remain married they should simply integrate expenses, income and liabilities. If they don’t intend to either then they should plan separately.
I will include lump sum before retirement option. For the moment, you and others interested can use this:
http://freefincal.com/retirement-calculators-advanced/retirement-planner-for-the-middle-aged-employee/
Thank Sunder. This kind of template is typically many years away from retirement. Therefore is best for someone like that to ignore lump sum benefits. Similarly if both husband and wife intend to work until retirement and hope to remain married they should simply integrate expenses, income and liabilities. If they don’t intend to either then they should plan separately.
I will include lump sum before retirement option. For the moment, you and others interested can use this:
http://freefincal.com/retirement-calculators-advanced/retirement-planner-for-the-middle-aged-employee/
good one and very useful to all
good one and very useful to all
Thank you.
Thank you.
Thank you.
Thank you.
Fantastic!!!
Thank you.
Fantastic!!!
Thank you.
A a good one
Thank you.
A a good one
Thank you.
Extremely useful. Thank you.
Extremely useful. Thank you.
Thank you.
Thank you.
Wonderful Tool. Sir, You nailed it. Very Nice.
Wonderful Tool. Sir, You nailed it. Very Nice.
Thanks Mihir.
Thanks Mihir.
Thanks Mihir.
Pattu,
This is great stuff. You combined all calculators at one place. Very easy to use.
Keep up the good work.
Thanks Rakesh.
Pattu,
This is great stuff. You combined all calculators at one place. Very easy to use.
Keep up the good work.
Thanks Rakesh.
thank you for such versatile comprehensive calculator. sometime before , i calculated the insurance requirement as on today with the same premises as yours and i tried with this calculator , and found the same result.
Many thanks.
thank you for such versatile comprehensive calculator. sometime before , i calculated the insurance requirement as on today with the same premises as yours and i tried with this calculator , and found the same result.
Many thanks.
really it is a very good one !
I have one question regarding the asset allocation.
whether asset allocation is for individual goals or it is for the entire portfolio of a person !
if I keep it for individual goals it becomes little complex.
if I keep it for entire portfolio I think I am becoming too conservative taking less risk for the long term goals.
assumption: equity inv are considered as an option in the portfolio only the tenure of the goal is 7 or more than seven years.
if you have any post for asset allocation pls forward me
Dear Vignesh, Each goal should have its own asset allocation. For example, I hope to retire after 25 years, and my son is expected to graduate from school in 14 years. How can these two goals have the same asset allocation?
The first step is finding out how much return you need. The you take into account a reasonable return from equity (10% for 15 years) and 12% for durations higher than that and plan your asset allocation accordingly.
See if this will of use.
http://freefincal.com/a-step-by-step-guide-to-long-term-goal-based-investing-part-i/
really it is a very good one !
I have one question regarding the asset allocation.
whether asset allocation is for individual goals or it is for the entire portfolio of a person !
if I keep it for individual goals it becomes little complex.
if I keep it for entire portfolio I think I am becoming too conservative taking less risk for the long term goals.
assumption: equity inv are considered as an option in the portfolio only the tenure of the goal is 7 or more than seven years.
if you have any post for asset allocation pls forward me
Dear Vignesh, Each goal should have its own asset allocation. For example, I hope to retire after 25 years, and my son is expected to graduate from school in 14 years. How can these two goals have the same asset allocation?
The first step is finding out how much return you need. The you take into account a reasonable return from equity (10% for 15 years) and 12% for durations higher than that and plan your asset allocation accordingly.
See if this will of use.
http://freefincal.com/a-step-by-step-guide-to-long-term-goal-based-investing-part-i/
pattu ,i am unable to download the one page financial plan excel file ,can u pls send me the exact link to my mail id shoumya.finance75@yahoo.com or shoumya@vaalueplusstrategic.in.Thanks a lot in advance.
Sent to your email. Thank you.
pattu ,i am unable to download the one page financial plan excel file ,can u pls send me the exact link to my mail id shoumya.finance75@yahoo.com or shoumya@vaalueplusstrategic.in.Thanks a lot in advance.
Sent to your email. Thank you.
nice work sir, thank you.
nice work sir, thank you.
Thank you very much. Do share this tool with your friends.
Thank you very much. Do share this tool with your friends.
really it is a very good one !
I have one question regarding the asset allocation.
whether asset allocation is for individual goals or it is for the entire portfolio of a person !
Thanks. Each goals should have its own individual asset allocation.
really it is a very good one !
I have one question regarding the asset allocation.
whether asset allocation is for individual goals or it is for the entire portfolio of a person !
Thanks. Each goals should have its own individual asset allocation.
Please can you share me the excel sheet calculators of all the above. Will be gratefull
Please spot the download link at the bottom of each post. Click that and save to your computer.
Please can you share me the excel sheet calculators of all the above. Will be gratefull
Please spot the download link at the bottom of each post. Click that and save to your computer.
Nice work..Keep helping
Thank you.
Nice work..Keep helping
Thank you.
Very nice article
Thank you.
Very nice article
Thank you.
great tool
great tool
Thank you
Thank you
dear sir, in the first sheet life insurance calc- How long would this income be needed – should this input be in years or months? i think it is years, just clarifying. – Regards ,Ram
Sorry for the late reply. It is years as you guessed. Thanks.
dear sir, in the first sheet life insurance calc- How long would this income be needed – should this input be in years or months? i think it is years, just clarifying. – Regards ,Ram
Sorry for the late reply. It is years as you guessed. Thanks.
Dear Sir Can you send me xls format of this file to my mail id.
mnellaiappan@gmail.com
Thanks
Please download it by clicking this link:
http://freefincal.com/wp-content/uploads/2013/11/Integrated-Financial-planner-May-2014.xlsm
Dear Sir Can you send me xls format of this file to my mail id.
mnellaiappan@gmail.com
Thanks
Please download it by clicking this link:
http://freefincal.com/wp-content/uploads/2013/11/Integrated-Financial-planner-May-2014.xlsm
Hi, Please mail me the excel
please download it from the link at the end of the post.
Hi, Please mail me the excel
please download it from the link at the end of the post.
SIr can i get an excel version of this? sameerphal@gmail.com
SIr can i get an excel version of this? sameerphal@gmail.com
Good day sir, could I get an exel version? nihal.moraes@gmail.com thanks.
Good day sir, could I get an exel version? nihal.moraes@gmail.com thanks.
You can download it from here http://freefincal.com/wp-content/uploads/2014/07/Integrated-Financial-planner-May-2014-1.xls
You can download it from here http://freefincal.com/wp-content/uploads/2014/07/Integrated-Financial-planner-May-2014-1.xls
You can download it from here http://freefincal.com/wp-content/uploads/2014/07/Integrated-Financial-planner-May-2014-1.xls
You can download it from here http://freefincal.com/wp-content/uploads/2014/07/Integrated-Financial-planner-May-2014-1.xls
Pattabiraman Murari thanks
Pattabiraman Murari thanks
Dear Pattabiraman,
First let me thank you for the excellent knowledge base you have built and shared with public, Your calculators are great and I am going through these one by one.
I was looking at your financial plan sheet. One thing I felt missing is the possibility that somebody using this plan in the middle of his/her financial life. If I already have a corpus built for retirement, how do I get that accounted for in this plan? Changing the start date/duration may achieve this but will need a lot of tweaking to match current reality. Would it be possible to build a plan account for current situation (not starting from 0) and start now?
Thanks again.
Best regards,
Deepak
Dear Deepak,
Please use this calculator. This will be better suited for your needs.
http://freefincal.com/update-retirement-calculator-for-the-middle-aged-employee/
Dear Pattabiraman,
First let me thank you for the excellent knowledge base you have built and shared with public, Your calculators are great and I am going through these one by one.
I was looking at your financial plan sheet. One thing I felt missing is the possibility that somebody using this plan in the middle of his/her financial life. If I already have a corpus built for retirement, how do I get that accounted for in this plan? Changing the start date/duration may achieve this but will need a lot of tweaking to match current reality. Would it be possible to build a plan account for current situation (not starting from 0) and start now?
Thanks again.
Best regards,
Deepak
Dear Deepak,
Please use this calculator. This will be better suited for your needs.
http://freefincal.com/update-retirement-calculator-for-the-middle-aged-employee/
Dear Sir,
Excellent service this calcualtor .I will require the XLS file for keying in my personal data .Thanks & regards
Karthikeyan
Thank. I have added the .xls link to the post. Please check.
Dear Sir,
Excellent service this calcualtor .I will require the XLS file for keying in my personal data .Thanks & regards
Karthikeyan
Thank. I have added the .xls link to the post. Please check.
Dear Mr. Pattabiraman,
I appreciate your efforts in bringing out a Financial Plan in excel template. I have not gone through the calculations. It appears very simple and can be adopted easily. Thanks.
Dear Mr. Pattabiraman,
I appreciate your efforts in bringing out a Financial Plan in excel template. I have not gone through the calculations. It appears very simple and can be adopted easily. Thanks.
Thank you.
Thank you.
Excellent Tool Mr Pattabiraman. Wonderful effort & skill in getting all pieces together in a single place. Is extremely utilitarian!!
Thank you.
Excellent Tool Mr Pattabiraman. Wonderful effort & skill in getting all pieces together in a single place. Is extremely utilitarian!!
Thank you.
Thanks for sharing this is a fantastic blog article.
Thank you.
Thanks for sharing this is a fantastic blog article.
Thank you.
Thank you for this calculator, and all the other calculators and articles! I recently got hooked to your website. I regret not finding it earlier, could have started planning so much earlier. Cant thank you enough for the efforts you have put in.
Thank you for this calculator, and all the other calculators and articles! I recently got hooked to your website. I regret not finding it earlier, could have started planning so much earlier. Cant thank you enough for the efforts you have put in.
It is really awesome. Since I am a new distributor at bangalore. I need a small help from you.
I need a client tracker which provides Name of the client,address, phone no and reference details. As each client is referred by a referral who is also my client. The referral client becomes trunk and the referred client becomes the branches.
In this way, we can come to know how many loyal clients have
Is this possible with the help of an excel
It is really awesome. Since I am a new distributor at bangalore. I need a small help from you.
I need a client tracker which provides Name of the client,address, phone no and reference details. As each client is referred by a referral who is also my client. The referral client becomes trunk and the referred client becomes the branches.
In this way, we can come to know how many loyal clients have
Is this possible with the help of an excel
Hi Pattu,
In the field “Current monthly expenses” do you advise that we put only that part of the monthly expense that would continue post retirement. For e.g., expenses like kid’s school fees, current house rent (could be high for a short while for various constraints) would not be there post retirement. So, is it a good tactic since putting all these expenses may inflate the investment required amount.
Rgds
Kartick
Hi Pattu,
In the field “Current monthly expenses” do you advise that we put only that part of the monthly expense that would continue post retirement. For e.g., expenses like kid’s school fees, current house rent (could be high for a short while for various constraints) would not be there post retirement. So, is it a good tactic since putting all these expenses may inflate the investment required amount.
Rgds
Kartick
Dear Pattu Sir,
what is the difference between doing SIP ‘at the beginning of month (0)’ and ‘at the end of month(1)’. ? Does investing at the end of month required less money(SIP) to generate our goal amount? (while using your calculator it shows around Rs.1000 difference).
Dear Pattu Sir,
what is the difference between doing SIP ‘at the beginning of month (0)’ and ‘at the end of month(1)’. ? Does investing at the end of month required less money(SIP) to generate our goal amount? (while using your calculator it shows around Rs.1000 difference).
Pattu Sir,
in the integrated financial planner file, Insurance sheet.
The net insurance required should take into account the already available insurance. This is not deducted.
could you check this please or you want the insurance to be over and above what one already has.. 😉
Updated. Thank you.
This is amazing. Many thanks to everyone who contributed towards making this. Just a couple of observations:
1. There should be a way to enter current corpus
2. In cash flow worksheet, the cash available for a particular year should be cumulative of cash that was saved in previous years. Currently, the analysis just lists the cash difference for current year
Hope this is useful in improving the utility of the tool.
Regards
Hi, I do think this is a great website. I stumbledupon it
😉 I am going to revisit yet again since i have saved as a favorite it.
Money and freedim is the greatest way to change, may you be rich and continue to guide other people.
hey “pattu”! 🙂
im so very glad i came across your twitter feed – and consequently your treasure trove. thanks very much – been struggling with FPMs from the various banks who make life complicated. Kudos for your work.
Thank you.
loved this tool, and the forum. Kudos to you for your efforts and time.
Rgds
Thank you
Great tool.
Can you add one small feature in this sheet ? I noticed that the “monthly expense” and “annual expense” listed in the retirement planning sheet is the one used for all calculations.
I anticipate that the expenses, both monthly as well as annual, will go down in the retirement phase since the children would have their own financial support to take care of a lot of current expenses.
Can you please add a column to specify “Expected monthly expense (post retirement)” ? I am sure the number changes would help reduce the required investments and hence the cashflow.
Hi,
First of all congratulations on such a good work. I must say it is a Gr8 & commendable effort.
I would like to mention 2 points to note for betterment of the template which are:
1) Balance cash flows should be available for next year investment / expenses / deficit.
2) Monthly expenses should be divided into 2 categories ie currently & post retirement.
This is an excellent article ! I am an Educationist, working to bridge skill gap among students at a cost of 10 rupees per student. Fiancial planning and goal Setting are the most important measures to have them self-driven. I will be thankful to you if you allow me to use this in printed version with my students.
Thank you. I am a teacher too (Physics). Feel free to use it. Would appreciate of if you ca urge your students to use the tools here.
this a great tool and appreciate the effort by you hats off sir
Thank you.
Awesome. Would be great if you can great video for this.
Hello Sir, In the Integrated financial plannner – Can you please let me know the logic behind why return can change based on timing of SIP?
Eg: If investment made in the beginning of month gives one type of return and that made at the end of month gives other type of return
That is only because of the simple compounding formula. If you invest at the start of the month then the gain from that month will also be counted. If you invest at the end of the month then it will not be counted.
Hi,
Can you kindly post a link to the latest version of the tool?
Thanks
It is there at the end of the post.
Dear Prof,
Do you know any known issues of this sheet on google spreadsheets. Any reason why you are not offering it on google spread sheet?
I imported this into google spread sheets and it seems to work fine, but I am afraid some formula somwhere might be broken.
you can upload it on google sheets
Hi Pattu
Request your permission to use the calculator on my website attributing to you.
No. I would appreciate if you did not.