{"text_format":"1","workbook":"xlsx","n_sheets":2,"sheets":["Retirement Calculator","Sheet2"],"not_rendered":{"charts":0,"images":0,"macros":1,"external_links":1,"defined_names":90,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Retirement Calculator","index":0,"n_rows":31,"n_cols":28,"rows_kept":31,"cut":false,"hidden":false,"merged":[[21,0,21,5],[22,0,22,2],[0,0,0,4]]}
["Annuities: To buy or not to buy?",null,null,null,null,null,null,"Year","Expenses","Pension","Shortfall","Year end corpus",5487841.2815310545,null,"Year","Expenses","Pension","Shortfall","Year end corpus",24117094.452117793,null,null,"Year","Expenses","Pension","Shortfall","Year end corpus",5407897.0476146564]
["Fill only green cells",null,null,null,null,null,null,1,{"$f":"B4","v":500000},{"$f":"B8","v":300000},{"$f":"I2-J2","v":200000},{"$f":"(M1-K2)*(1+$B$5)","v":5605111.7584229177},null,null,{"$f":"H16+1","v":16},{"$f":"I16*(1+$C$6)","v":1586084.5570991361},{"$f":"J16*(1+$B$9)","v":300000},{"$f":"P2-Q2","v":1286084.5570991361},{"$f":"(T1-R2)*(1+$C$5)","v":24200870.488719776},null,null,null,1,{"$f":"B4","v":500000},{"$f":"B8","v":300000},{"$f":"X2-Y2","v":200000},{"$f":"(AB1-Z2)*(1+$B$5)","v":5520370.8704715362}]
[null,"First segment","Second segment",null,null,null,null,{"$f":"H2+1","v":2},{"$f":"I2*(1+$B$6)","v":540000},{"$f":"J2*(1+$B$9)","v":300000},{"$f":"I3-J3","v":240000},{"$f":"IF(L2<0,\"Shortfall\",(L2-K3)*(1+$B$5))","v":5687018.4639282934},null,null,{"$f":"O2+1","v":17},{"$f":"P2*(1+$C$6)","v":1712971.321667067},{"$f":"Q2*(1+$B$9)","v":300000},{"$f":"P3-Q3","v":1412971.321667067},{"$f":"IF(S2<0,\"Shortfall\",(S2-R3)*(1+$C$5))","v":24155173.117075872},null,null,null,{"$f":"W2+1","v":2},{"$f":"X2*(1+$B$6)","v":540000},{"$f":"Y2*(1+$B$9)","v":300000},{"$f":"X3-Y3","v":240000},{"$f":"IF(AA2<0,\"Shortfall\",(AA2-Z3)*(1+$B$5))","v":5597193.1226998288}]
["Amount needed in first year (expenses)",500000,{"$f":"B4*(1+B6)^B7","v":1586084.5570991358},null,null,null,null,3,583200,{"$f":"J3*(1+$B$9)","v":300000},283200,{"$f":"IF(L3<0,\"Shortfall\",(L3-K4)*(1+$B$5))","v":5728047.5717639914},null,null,18,{"$f":"P3*(1+$C$6)","v":1850009.0274004324},{"$f":"Q3*(1+$B$9)","v":300000},1550009.0274004324,{"$f":"IF(S3<0,\"Shortfall\",(S3-R4)*(1+$C$5))","v":23961473.935055964},null,null,null,3,583200,{"$f":"Y3*(1+$B$9)","v":300000},283200,{"$f":"IF(AA3<0,\"Shortfall\",(AA3-Z4)*(1+$B$5))","v":5632832.7100618193}]
["volatility free Interest rate on corpus (post-tax)",0.06,{"$f":"B5","v":0.06},null,null,null,null,4,629856,300000,329856,5722083.0660698311,null,null,19,1998009.7495924672,300000,1698009.7495924672,23599272.036591306,null,null,null,4,629856,300000,329856,5621155.3126655286]
["Inflation rate (or rate at which income should increase)",0.08,{"$f":"B6","v":0.08},null,null,null,null,5,680244.4800000001,300000,380244.4800000001,5662348.9012340205,null,null,20,2157850.5295598647,300000,1857850.5295598647,23045906.797453329,null,null,null,5,680244.4800000001,300000,380244.4800000001,5555365.4826254603]
["Years payments are required (fixed)",15,{"$f":"B7","v":15},null,null,null,null,6,734664.03840000019,300000,434664.03840000019,5541345.9546040623,null,null,21,2330478.5719246538,300000,2030478.5719246538,22276353.919060398,null,null,null,6,734664.03840000019,300000,434664.03840000019,5427943.5308789881]
["Intial pension or annuity received (annual)",300000,null,null,null,null,null,7,793437.1614720003,300000,493437.1614720003,5350783.3207199862,null,null,22,2516916.8576786262,300000,2216916.8576786262,21263003.285064679,null,null,null,7,793437.1614720003,300000,493437.1614720003,5230576.7515714075]
["Average increase in pension per year",null,null,null,null,null,null,8,856912.13438976032,300000,556912.13438976032,5081503.4575100401,null,null,23,2718270.2062929166,300000,2418270.2062929166,19975417.063498069,null,null,null,8,856912.13438976032,300000,556912.13438976032,4954084.4942125464]
[null,null,null,null,null,null,null,9,925465.10514094122,300000,{"$f":"I10-J10","v":625465.10514094122},{"$f":"IF(L9<0,\"Shortfall\",(L9-K10)*(1+$B$5))","v":4723400.6535112448},null,null,24,2935731.8227963499,300000,{"$f":"P10-Q10","v":2635731.8227963499},18380066.355143823,null,null,null,9,925465.10514094122,300000,{"$f":"X10-Y10","v":625465.10514094122},{"$f":"IF(AA9<0,\"Shortfall\",(AA9-Z10)*(1+$B$5))","v":4588336.5524159018}]
[null,null,null,null,null,null,null,10,999502.31355221663,300000,{"$f":"I11-J11","v":699502.31355221663},4265332.2403565701,null,null,25,3170590.3686200581,300000,{"$f":"P11-Q11","v":2870590.3686200581},16440044.54571519,null,null,null,10,999502.31355221663,300000,{"$f":"X11-Y11","v":699502.31355221663},4122164.2931955066]
[null,{"$f":"CONCATENATE(\"First \",B7,\" years in retirement\")","v":"First 15 years in retirement"},{"$f":"CONCATENATE(\"Next \",C7,\" years in retirement\")","v":"Next 15 years in retirement"},null,null,null,null,11,1079462.498636394,300000,{"$f":"I12-J12","v":779462.49863639404},3695021.926223387,null,null,26,3424237.598109663,300000,{"$f":"P12-Q12","v":3124237.598109663},14114755.36446186,null,null,null,11,1079462.498636394,300000,{"$f":"X12-Y12","v":779462.49863639404},3543263.9022326595]
["Corpus for first segment",{"$f":"M1","v":5487841.2815310545},{"$f":"T1","v":24117094.452117793},null,null,null,null,12,1165819.4985273057,300000,{"$f":"I13-J13","v":865819.49852730567},2998954.5733578466,null,null,27,3698176.6059584362,300000,{"$f":"P13-Q13","v":3398176.6059584362},11359573.48401363,null,null,null,12,1165819.4985273057,300000,{"$f":"X13-Y13","v":865819.49852730567},2838091.0679276753]
["Amount initially required to generate corpus for second segment*",null,{"$f":"C13/(1+10%)^B7","v":5773440.6657221597},null,null,null,null,13,1259085.0584094902,300000,{"$f":"I14-J14","v":959085.05840949016},2162261.6858452577,null,null,28,3994030.7344351113,300000,{"$f":"P14-Q14","v":3694030.7344351113},8125475.3145532301,null,null,null,13,1259085.0584094902,300000,{"$f":"X14-Y14","v":959085.05840949016},1991746.3700892765]
["* 10% portfolio growth rate is used. Change it in cells C14",null,null,null,null,null,null,14,1359811.8630822494,300000,1059811.8630822494,1168596.8121287888,null,null,29,4313553.1931899209,300000,{"$f":"P15-Q15","v":4013553.1931899209},4358637.4486451084,null,null,null,14,1359811.8630822494,300000,{"$f":"X15-Y15","v":1059811.8630822494},987850.5774274487]
[null,null,null,null,null,null,null,15,1468596.8121288295,300000,1168596.8121288295,-4.3190084397792816E-8,null,null,30,4658637.4486451149,300000,4358637.4486451149,-6.9104135036468505E-9,null,null,null,15,1468596.8121288295,300000,1168596.8121288295,{"$f":"IF(AA15<0,\"Shortfall\",(AA15-Z16)*(1+$B$5))","v":-191591.00878346368}]
["Total corpus required for indexed pension (in addition to regular pension or annuity, if any)",null,{"$f":"B13+C14","v":11261281.947253214},null,null,{"$f":"(C13/F19)^(1/15)-1","v":0.13706002100616077},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"W16+1","v":16},{"$f":"X16*(1+$B$6)","v":1586084.5570991361},{"$f":"Y16*(1+$B$9)","v":300000},{"$f":"X17-Y17","v":1286084.5570991361},{"$f":"IF(AA16<0,\"Shortfall\",(AA16-Z17)*(1+$B$5))","v":"Shortfall"}]
["Initial withdrawal rate (required)",null,{"$f":"B4/C17","v":4.4399918441075624E-2},null,null,null,null,null,{"$f":"60%*C14/(C17)","v":0.3076083536189439},null,null,null,null,null,null,null,null,null,null,null,null,null,17,1712971.321667067,300000,1412971.321667067,{"$error":"#VALUE!"}]
["What is the corpus that you actually have?",null,9000000,null,null,{"$f":"(C19-B13)","v":3512158.7184689455},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,18,1850009.0274004324,300000,1550009.0274004324,{"$error":"#VALUE!"}]
["Initial withdrawal rate (actual)",null,{"$f":"B4/C19","v":5.5555555555555552E-2},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,19,1998009.7495924672,300000,1698009.7495924672,{"$error":"#VALUE!"}]
["Results",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,20,2157850.5295598647,300000,1857850.5295598647,{"$error":"#VALUE!"}]
[{"$f":"IF(C19<=B13,\"You will not be able to generate an indexed pension, in addition to regular pension (if any), please consider buying an annuity with your corpus\",\"\")","v":""},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,21,2330478.5719246538,300000,2030478.5719246538,{"$error":"#VALUE!"}]
[{"$f":"IF(A22<>\"\",\"\",IF(F19<C14,\"To generate the necessary corpus for the next 15 years in retirement, you need a net portfolio return of\",\"\"))","v":"To generate the necessary corpus for the next 15 years in retirement, you need a net portfolio return of"},null,null,{"$f":"IF(A22<>\"\",\"\",IF(F19<C14,F17,\"\"))","v":0.13706002100616077},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,22,2516916.8576786262,300000,2216916.8576786262,{"$error":"#VALUE!"}]
[{"$f":"IF(A22<>\"\",\"\",IF(F19<C14,\"If this return is anything above 12% (preferably 10%), you will need to take excessive risk. Please consider buying an annuity with your corpus\",\"\"))","v":"If this return is anything above 12% (preferably 10%), you will need to take excessive risk. Please consider buying an annuity with your corpus"},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,23,2718270.2062929166,300000,2418270.2062929166,{"$error":"#VALUE!"}]
[{"$f":"IF(C19>=C17,\"Great! You have enough corpus to generate an inflation protected income!\",\"\")","v":""},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,24,2935731.8227963499,300000,2635731.8227963499,{"$error":"#VALUE!"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,25,3170590.3686200581,300000,2870590.3686200581,{"$error":"#VALUE!"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,26,3424237.598109663,300000,3124237.598109663,{"$error":"#VALUE!"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,27,3698176.6059584362,300000,3398176.6059584362,{"$error":"#VALUE!"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"W28+1","v":28},{"$f":"X28*(1+$B$6)","v":3994030.7344351113},{"$f":"Y28*(1+$B$9)","v":300000},{"$f":"X29-Y29","v":3694030.7344351113},{"$f":"IF(AA28<0,\"Shortfall\",(AA28-Z29)*(1+$B$5))","v":{"$error":"#VALUE!"}}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,29,4313553.1931899209,300000,4013553.1931899209,{"$error":"#VALUE!"}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,30,4658637.4486451149,300000,4358637.4486451149,{"$error":"#VALUE!"}]

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