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
- 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.
- 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!
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.
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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 🖒
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