Update: Integrated Financial Planning Template

It has been a year since the integrated financial planning template with which you can create your own financial plan, and print it on one side of an A4 sheet, was released.

Glad to note that this is now the most popular Excel sheet at freefincal. Not so glad to know that the Chit fund calculator is in the top 3 (made it to show why Chit funds are bad!)

I have now added two graphs to the planning template a Year by year Pie Chart with which the user can now view the cash flow pie for every year from the present to slated retirement.

Sample financial plan

Integrated-Financial-Planner-1

Integrated-Financial-Planner-2

What you must invest and what you can invest

This gives you a perspective of the investment amount needed for all goals (long-term, short-term and recurring) and the amount free for investment (investible surplus).  For those with liabilities, the investible surplus will grow with time.

I have deliberately not factored in this cash that will free up for investment down the line. For example if your child goes to college 10 years before you retire, after his education is complete, the money tagged with the education goal is free.

That can now be tagged with your retirement goal. Some planners prefer to take into account this extra cash flow while planning for retirement. Doing so will reduce the initial monthly investment needed for retirement.

I choose not to do this. The future is uncertain and we cannot assume our lives will pan out as it does on an Excel sheet. I would prefer to use this planner each year and re-evaluate my goals.

So the best strategy would be to not worry about the investment amount required and focus on investment what we can by keeping expenses and liabilities at check. It is the best strategy because not much else can be done anyway!

Updated Jan. 15th 2016. Integrated Financial Planning Template Corrected an error in the insurance sheet as pointed out by Guru Rudagi.

Download the Integrated Financial Planner (Dec 2014)

(Excel 200 file, Macros needed only for printing plan)

 

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35 thoughts on “Update: Integrated Financial Planning Template

  1. Thanks Pattu for the additions to this so relevant calculator. It is not surprising that this is your most popular calculator!! I did realise that for me it was the most useful. I am also sure that those at my stage of life also find it the most useful. Simply because it is the most pertinent to them. As for the popularity of the chit fund calculator, it is one of the most popular because of the advice it extends – that chit funds are bad!! So don't feel bad that it is so popular!!

  2. Thanks Pattu for the additions to this so relevant calculator. It is not surprising that this is your most popular calculator!! I did realise that for me it was the most useful. I am also sure that those at my stage of life also find it the most useful. Simply because it is the most pertinent to them. As for the popularity of the chit fund calculator, it is one of the most popular because of the advice it extends – that chit funds are bad!! So don't feel bad that it is so popular!!

  3. pattu was thinking if there is an integrated family financial planning calculator.. atleast for nuclear family, husband and wife earning and wanting to retire at different times…

  4. pattu was thinking if there is an integrated family financial planning calculator.. atleast for nuclear family, husband and wife earning and wanting to retire at different times…

  5. I am unable to open the excel file in Excel 2013. It is giving an error
    “Microsoft Excel cannot open or save any more documents because there is not enough available memory or disk space”.

    I have 6GB RAM an 1 TB hard disk, so RAM or disk space cannot be the issue.

    Any suggestions.

    1. That is strange! Ram is not the issue. The Excel file is not the issue. If you are sure you have free space in your hard disk, check if you can download and open any other file type

      1. I tried downloading the file via IE and I was able to download. For some strange reason, Firefox was creating issues with excel files downloaded from your site.

  6. I am unable to open the excel file in Excel 2013. It is giving an error
    “Microsoft Excel cannot open or save any more documents because there is not enough available memory or disk space”.

    I have 6GB RAM an 1 TB hard disk, so RAM or disk space cannot be the issue.

    Any suggestions.

    1. That is strange! Ram is not the issue. The Excel file is not the issue. If you are sure you have free space in your hard disk, check if you can download and open any other file type

      1. I tried downloading the file via IE and I was able to download. For some strange reason, Firefox was creating issues with excel files downloaded from your site.

  7. Hi Pattu, I downloaded the latest (Dec 2014) version. I noticed that the current life insurance cover (Cell B10, Life Insurance Calculator) is not being considered in the final calculations. I thought perhaps this can be subtracted from the “Net Insurance Required” (Cell B45).

  8. Hi Pattu, I downloaded the latest (Dec 2014) version. I noticed that the current life insurance cover (Cell B10, Life Insurance Calculator) is not being considered in the final calculations. I thought perhaps this can be subtracted from the “Net Insurance Required” (Cell B45).

  9. Dear Pattu sir,
    I tried putting some values but I noticed that these 3 column values are not getting generated in the Retirement tab for me.
    Corpus required for funding retirement for 25 years
    Initial monthly investment required
    Excess amount available for other needs

    Also what does this column mean in the same tab
    Post-tax monthly pension in 1st year of retirement
    (does it mean what I’ll earn per month after my retirement or does it mean based on inflation and my current expense per month, what will be my monthly expense after retirement). I have this doubt because I’ve not added much regarding my savings and I am getting a figure of 548248.

  10. Dear Pattu sir,
    I tried putting some values but I noticed that these 3 column values are not getting generated in the Retirement tab for me.
    Corpus required for funding retirement for 25 years
    Initial monthly investment required
    Excess amount available for other needs

    Also what does this column mean in the same tab
    Post-tax monthly pension in 1st year of retirement
    (does it mean what I’ll earn per month after my retirement or does it mean based on inflation and my current expense per month, what will be my monthly expense after retirement). I have this doubt because I’ve not added much regarding my savings and I am getting a figure of 548248.

  11. Hi Pattu,

    Thanks for the financial planner. How do I account for Endowment policies in same?? Have you thought about factoring that also?? though i guess it would make it more complicated :).

    Also, I feel in initial years 30-40 yrs the growth rate on annual income would be higher(8-10%). Post 40-50 yrs it would taper down (3-4%) and post 50 it may be even less (1-2%) as the base keeps increasing….Maybe if this can be factored in it would be better….not sure how much difference does it make to the final amount needed to save but would be more realistic in my view.

    Regards
    Parsh

  12. Hi Pattu,

    Thanks for the financial planner. How do I account for Endowment policies in same?? Have you thought about factoring that also?? though i guess it would make it more complicated :).

    Also, I feel in initial years 30-40 yrs the growth rate on annual income would be higher(8-10%). Post 40-50 yrs it would taper down (3-4%) and post 50 it may be even less (1-2%) as the base keeps increasing….Maybe if this can be factored in it would be better….not sure how much difference does it make to the final amount needed to save but would be more realistic in my view.

    Regards
    Parsh

  13. + I think current Insurance cover is not taken into any calculations as pointed out by Kickfury… maybe then it is not required or you can have subtraction done from insurance required to say if under insured or over insured.

  14. + I think current Insurance cover is not taken into any calculations as pointed out by Kickfury… maybe then it is not required or you can have subtraction done from insurance required to say if under insured or over insured.

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