Purdue University in conjunction with the USDA presents
A Retirement Estimator for Farm Families
Summary of Information
Directions: To print this summary page click on the printer icon of your web browser. If you would like to change the numbers you used, change the appropriate values on this page and click the "Update Information" button. This will allow your changes to be viewed on this page and will update the totals at the bottom of the page.

Your Current Annual Living Expenses
How your expenses and contributions will change after retirement
Expense About how much do you spend now? What do you expect to spend after retirement? Difference after retirement?
Work-related such as travel, clothing, meals
Social Security
Income Taxes
Savings for retirement such as pension plan and IRA contributions
Travel
Leisure
Health care expenses such as health insurance and long-term care insurance
Other such as gifts, housing, etc.
Total change in expenses
Income Needed to Retire
Calculated Annual Income you will need when retired 0
If you suggested another amount you will need in retirement, this is it.

Household Social Security Income
Farmers’s annual benefit from Social Security if retiring at age would be
Spouse’s annual benefit from Social Security if retiring at age would be
Estimate of farmer and spouse’s annual Social Security benefits $

Other Sources of Retirement Income
Annual amount from farmer’s IRAs, etc.
Annual amount from spouse’s IRAs, etc.
Annual amount from farmer’s defined benefit plan
Annual amount from spouse’s defined benefit plan
Annual amount from farmer’s defined contribution plan (401 (k) plan)
Annual amount from spouse’s defined contribution plan (401 (k) plan)
Annual income from present investments such as Certificates of Deposit, stocks and bonds.
Part-time income ( working for others after you are retired)
Estimated annual income from the farm
Total cash rent from cropland (Or net income from crop share lease)
Total cash rent from pasture
Estimated annual income from rented out buildings and facilities
Estimated annual income from reinvestment proceeds of farm assets
Annual income from government payments
Other farm related income
Total estimated annual income from farm property

Estimated annual farm-related payments after retirement
Land payments
Bank notes and outstanding credit card balance
Machinery contracts
Property taxes
Property insurance
Other annual payments such as a mortgage on your home
Analysis and Summary
Calculated Annual Income you will need when retired $0
If you suggested another amount you will need in retirement, this is it. $0
Estimate of annual income you will have when retired $0
Difference $0