Veteran Forward HQ Resources
Retirement Gap Tracker
Map your guaranteed income against your expected lifestyle to find your 'Number'.
Section 1 — Guaranteed Income Sources
Start by identifying the 'floor' of your retirement income — the money that will arrive every month regardless of market conditions.
For veterans, this is often a combination of VA disability, military pension, and Social Security.
| Income Source | Monthly Amount ($) | Start Age/Date | Inflation Adjusted? |
|---|---|---|---|
| Military Pension | Yes (COLA) | ||
| VA Disability Compensation | Yes (COLA) | ||
| Social Security (Estimated) | Yes (COLA) | ||
| Civil Service Pension (FERS) | Yes | ||
| Other Guaranteed Income |
Section 2 — Projected Monthly Expenses
Estimate what it will cost to live the life you want in retirement. Be sure to include 'hidden' costs like healthcare (if not using VA/Tricare exclusively) and travel.
Instruction: Use current dollars. We will adjust for inflation later if needed.
| Expense Category | Estimated Monthly ($) | Priority (Needs vs Wants) |
|---|---|---|
| Housing (Mortgage/Rent/Taxes) | Need | |
| Healthcare (Insurance/Copays) | Need | |
| Utilities & Communications | Need | |
| Food & Groceries | Need | |
| Transportation | Need | |
| Travel & Recreation | Want | |
| Giving & Family Support | Want | |
| Total Monthly Expenses | Sum of all |
Section 3 — Calculating 'The Gap'
The 'Gap' is the difference between what you need to spend and what your guaranteed income provides. This gap must be filled by your retirement savings (TSP, IRAs, etc.).
If your guaranteed income is greater than your expenses, you have a 'Surplus'. This is the ultimate goal.
To find the total savings needed to fill this gap, use the 4% Rule: Multiply your Annual Income Gap by 25. This is your 'Target Savings Number'.
Section 4 — Closing the Gap: The Air Force Story
Sarah, an Air Force veteran, realized through this tracker that she faced a $1,200 monthly gap. Initially, she was discouraged, thinking she'd have to work forever.
However, seeing the number allowed her to build a 5-year 'bridge' plan. She decided to work for five more years in a high-paying civilian role, maxing out her TSP and catch-up contributions.
She also decided to delay Social Security from age 62 to 67, which increased her guaranteed 'floor' by nearly 40%. By the time she retired, her gap was gone. 'The gap wasn't a wall,' Sarah said. 'It was just a distance I needed to find a way to travel.'