Educational PurposeThis worksheet helps individuals and couples organize every source of retirement income in one place. Use it to record the amount expected from each source, when payments begin, how frequently payments are received, whether the income is guaranteed, variable, or temporary, whether payments continue after the death of a spouse, how taxes and withholding may affect spendable income, and the contact and account information needed to manage each benefit. This organizer does not determine whether a retirement-income source is appropriate or whether projected amounts will be sufficient.
1. Household Information
Name or household
Date completed
Current retirement status
- Preparing for retirement
- Partially retired
- Fully retired
- Reviewing an existing income plan
Adult 1
Adult 2
Next review date
2. Retirement Income Overview
List every expected or current income source.
| Income source | Owner or recipient | Monthly amount | Start date | Payment frequency |
|---|---|---|---|---|
| Social Security | __________ | $________ | __________ | __________ |
| Social Security | __________ | $________ | __________ | __________ |
| Pension | __________ | $________ | __________ | __________ |
| Pension | __________ | $________ | __________ | __________ |
| Annuity | __________ | $________ | __________ | __________ |
| Workplace retirement plan | __________ | $________ | __________ | __________ |
| IRA withdrawals | __________ | $________ | __________ | __________ |
| Investment income | __________ | $________ | __________ | __________ |
| Rental income | __________ | $________ | __________ | __________ |
| Business income | __________ | $________ | __________ | __________ |
| Employment income | __________ | $________ | __________ | __________ |
| Other | __________ | $________ | __________ | __________ |
| Total estimated monthly income | $________ |
3. Classify Each Income Source
Mark the description that best fits each source.
| Income source | Contractually guaranteed | Predictable but may change | Variable | Temporary |
|---|---|---|---|---|
| Social Security — Adult 1 | ☐ | ☐ | ☐ | ☐ |
| Social Security — Adult 2 | ☐ | ☐ | ☐ | ☐ |
| Pension | ☐ | ☐ | ☐ | ☐ |
| Annuity income | ☐ | ☐ | ☐ | ☐ |
| Retirement withdrawals | ☐ | ☐ | ☐ | ☐ |
| Investment income | ☐ | ☐ | ☐ | ☐ |
| Rental income | ☐ | ☐ | ☐ | ☐ |
| Business income | ☐ | ☐ | ☐ | ☐ |
| Employment income | ☐ | ☐ | ☐ | ☐ |
| Other | ☐ | ☐ | ☐ | ☐ |
Income we consider most dependable
Income with the greatest uncertainty
Temporary income expected to end
4. Social Security Income
Adult 1
Name
Claiming age
Expected or current monthly benefit
Benefit start date
Payment date each month
Taxes withheld ($ or %)
Benefit based on
- Own work record
- Spousal benefit
- Survivor benefit
- Disability conversion
- Unsure
Adult 2
Name
Claiming age
Expected or current monthly benefit
Benefit start date
Payment date each month
Taxes withheld ($ or %)
Benefit based on
- Own work record
- Spousal benefit
- Survivor benefit
- Disability conversion
- Unsure
Social Security issue requiring review
5. Pension Income
Pension 1
Plan provider
Recipient
Monthly benefit
Income-start date
Payment frequency
- Monthly
- Quarterly
- Annually
- Other
Payment option
- Single-life income
- Joint-and-survivor income
- Period-certain income
- Lump-sum option
- Other
Survivor percentage
Cost-of-living adjustment
- Yes
- No
- Conditional
- Unsure
Taxes withheld ($ or %)
Pension 2
Plan provider
Recipient
Monthly benefit
Income-start date
Payment option
Survivor benefit
Taxes withheld ($ or %)
6. Annuity Income
Complete one section for each existing or proposed annuity.
Annuity 1
Issuing insurance company
Contract owner
Annuitant
Contract number or identifying reference
Type of annuity
Current contract value
Income or benefit base, when applicable
Income-start date
Monthly payment
Income structure
- Life only
- Joint and survivor
- Life with guaranteed period
- Fixed number of years
- Lifetime-withdrawal rider
- Other
Is the payment contractually guaranteed?
- Yes
- No
- Partly
- Unsure
Can the payment change?
- Increase
- Decrease
- Remain level
- Depends on contract performance
- Unsure
Beneficiary
Expected death benefit
Taxes withheld ($ or %)
Annuity 2
Issuing insurance company
Contract owner
Type of annuity
Income-start date
Monthly payment
Income option
Beneficiary provision
Important restriction or surrender provision
7. Retirement-Account Withdrawals
| Account | Owner | Current balance | Planned monthly withdrawal | Start date |
|---|---|---|---|---|
| 401(k), 403(b), or 457 | __________ | $________ | $________ | __________ |
| Traditional IRA | __________ | $________ | $________ | __________ |
| Roth IRA | __________ | $________ | $________ | __________ |
| Taxable investment account | __________ | $________ | $________ | __________ |
| Other | __________ | $________ | $________ | __________ |
| Total planned monthly withdrawals | $________ |
Withdrawal method
- Fixed dollar amount
- Percentage of account value
- Required minimum distribution
- Withdrawals as needed
- Interest and dividends only
- Other
Can the withdrawal amount change?
- Yes
- No
- Unsure
Condition that may require an adjustment
8. Employment, Business, and Rental Income
| Income source | Owner | Average monthly amount | Expected duration | Variable? |
|---|---|---|---|---|
| Part-time employment | __________ | $________ | __________ | ☐ |
| Consulting or freelance work | __________ | $________ | __________ | ☐ |
| Business income | __________ | $________ | __________ | ☐ |
| Rental income | __________ | $________ | __________ | ☐ |
| Royalties | __________ | $________ | __________ | ☐ |
| Other | __________ | $________ | __________ | ☐ |
Expenses deducted before income is available
Estimated net monthly income
Income most likely to change or end
9. Income Start and End Dates
Some income begins immediately, while other income may start later or end after a specified period.
| Income source | Start date | Expected end date | Continues for life? |
|---|---|---|---|
| __________ | __________ | __________ | ☐ |
| __________ | __________ | __________ | ☐ |
| __________ | __________ | __________ | ☐ |
| __________ | __________ | __________ | ☐ |
| __________ | __________ | __________ | ☐ |
| __________ | __________ | __________ | ☐ |
Income available at retirement (per month)
Additional income beginning later (per month)
Income expected to end (per month)
Period when total income may be lowest
10. Monthly Income Calendar
Record when each payment is expected.
| Approximate payment date | Income source | Expected amount |
|---|---|---|
| 1st–7th | __________ | $________ |
| 1st–7th | __________ | $________ |
| 8th–14th | __________ | $________ |
| 8th–14th | __________ | $________ |
| 15th–21st | __________ | $________ |
| 15th–21st | __________ | $________ |
| 22nd–end of month | __________ | $________ |
| 22nd–end of month | __________ | $________ |
| Total expected during the month | $________ |
Bills due before the first major income payment
Cash-flow adjustment that may be needed
11. Gross Income, Taxes, and Spendable Income
| Income source | Gross monthly amount | Tax withholding | Other deductions | Net amount |
|---|---|---|---|---|
| Social Security | $________ | $________ | $________ | $________ |
| Pension | $________ | $________ | $________ | $________ |
| Annuity | $________ | $________ | $________ | $________ |
| Retirement withdrawal | $________ | $________ | $________ | $________ |
| Employment income | $________ | $________ | $________ | $________ |
| Rental or business income | $________ | $________ | $________ | $________ |
| Other | $________ | $________ | $________ | $________ |
| Total | $________ | $________ | $________ | $________ |
Estimated monthly spendable income
Tax question requiring professional review
12. Inflation and Income Adjustments
| Income source | Remains level | May increase | Adjustment method |
|---|---|---|---|
| Social Security | ☐ | ☐ | __________ |
| Pension | ☐ | ☐ | __________ |
| Annuity | ☐ | ☐ | __________ |
| Retirement withdrawals | ☐ | ☐ | __________ |
| Rental income | ☐ | ☐ | __________ |
| Employment income | ☐ | ☐ | __________ |
| Other | ☐ | ☐ | __________ |
Income likely to remain unchanged for many years
Income expected to help address inflation
Purchasing-power concern
13. Survivor-Income Organizer
Record what may happen after the death of either spouse or partner.
| Income source | Amount while both are living | Amount after first death | Continues to survivor? |
|---|---|---|---|
| Social Security | $________ | $________ | ☐ |
| Pension | $________ | $________ | ☐ |
| Annuity | $________ | $________ | ☐ |
| Retirement withdrawals | $________ | $________ | ☐ |
| Rental or business income | $________ | $________ | ☐ |
| Other | $________ | $________ | ☐ |
| Total monthly income | $________ | $________ |
Estimated monthly income reduction after the first death
Income source most likely to stop
Survivor-income issue requiring attention
14. Contact and Account Information
Do not record passwords in this worksheet.
| Income source | Provider or agency | Phone or website | Account reference |
|---|---|---|---|
| Social Security | __________ | __________ | __________ |
| Pension | __________ | __________ | __________ |
| Annuity | __________ | __________ | __________ |
| Retirement account | __________ | __________ | __________ |
| Investment account | __________ | __________ | __________ |
| Rental or business income | __________ | __________ | __________ |
| Other | __________ | __________ | __________ |
Trusted person who knows where records are stored
Document storage location
15. Documents to Organize
- Social Security benefit estimates
- Pension benefit statements
- Pension payment elections
- Annuity contracts
- Annuity income-rider documents
- Retirement-account statements
- Required minimum distribution records
- Investment-account statements
- Rental or business income records
- Tax-withholding elections
- Beneficiary confirmations
- Insurance-company contact information
- Professional contact information
- Other
Missing document
Person responsible for obtaining it
Deadline
16. Consolidated Income Summary
Dependable or Contractual Income
| Source | Monthly amount |
|---|---|
| Social Security | $________ |
| Pension | $________ |
| Contractual annuity income | $________ |
| Other dependable income | $________ |
| Total dependable income | $________ |
Variable or Non-Guaranteed Income
| Source | Monthly amount |
|---|---|
| Retirement-account withdrawals | $________ |
| Investment income | $________ |
| Rental income | $________ |
| Business income | $________ |
| Employment income | $________ |
| Other variable income | $________ |
| Total variable income | $________ |
Total Retirement Income
Total gross monthly income
Estimated taxes and deductions
Estimated net monthly income
17. Income Follow-Up Actions
| Action needed | Responsible person | Deadline | Completed |
|---|---|---|---|
| Confirm Social Security estimate | __________ | __________ | ☐ |
| Request pension statement | __________ | __________ | ☐ |
| Review annuity income option | __________ | __________ | ☐ |
| Confirm retirement withdrawals | __________ | __________ | ☐ |
| Review tax withholding | __________ | __________ | ☐ |
| Confirm beneficiaries | __________ | __________ | ☐ |
| Review survivor income | __________ | __________ | ☐ |
| Organize account documents | __________ | __________ | ☐ |
| Other | __________ | __________ | ☐ |
Income Sources Organizer Checklist
Confirm that you have:
- Listed every expected income source
- Recorded the owner or recipient
- Recorded payment amounts and dates
- Identified guaranteed and variable income
- Recorded income start and end dates
- Reviewed Social Security and pension payments
- Recorded annuity income provisions
- Organized retirement-account withdrawals
- Estimated taxes and deductions
- Calculated net spendable income
- Identified income that may increase with inflation
- Reviewed survivor-income changes
- Organized provider and account information
- Confirmed beneficiary information
- Identified missing documents
- Created follow-up actions
- Scheduled the next review
The TrueWealth Takeaway™
Knowing the total amount of retirement income is important, but it is not enough. A complete income picture also shows who receives each payment, when the payment begins, whether it may change, how long it is expected to continue, what remains after taxes, and what happens after the death of a spouse or partner.
Learn. Understand. Decide with Confidence.
Learn. Understand. Decide with Confidence.
— The TrueWealth Perspective™
© 2026 TrueWealth Leadership Development Agency. All Rights Reserved.
Educational Disclaimer: This material is provided for educational purposes only and should not be interpreted as financial, insurance, legal, tax, or investment advice. Individual circumstances vary. Consult qualified professionals before making financial or insurance decisions.