Financial planning template (free!) Create your own financial plan!

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

  1. A financial plan is a just a piece of paper if you don’t act on it
  2. You will need to review the financial year once a year.

Requests

  1. Feedback, suggestions for improvement and requests for specific modifications are welcome.
  2. 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.
  3. 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. I have upgraded this template in multiple ways here: Download the Freefincal Robo Advisory Software Template

Changelog

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!

This post was last modified on September 18, 2019 3:09 pm

M. Pattabiraman: @freefincalThis website is owned by M. Pattabiraman. He 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 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 such engagements include World Bank, RBI, BHEL, Asian Paints, Cognizant

View Comments (156)

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.