Personal Financial Statement Template

A personal financial statement is a snapshot of your finances built from two reports: a balance sheet showing what you own against what you owe (your net worth), and a cash-flow statement showing your income against your spending (your net cash flow). This free template puts both in one file with the arithmetic built in: you fill in the shaded cells and the totals calculate themselves. It opens with a hypothetical retired couple's figures, including IRAs, a pension, and two Social Security benefits, so you can see a finished statement before you replace them with your own.

What goes on the balance sheet?

Everything you own at today's value, and everything you owe at today's payoff balance. Assets fall into three groups in the template: cash and near-cash (checking, savings, money market funds, CDs and Treasury bills), investments (taxable brokerage, traditional IRAs and 401(k)s, Roth accounts, HSAs, the surrender value of annuities and the cash value of permanent life insurance), and property (your home, other real estate, vehicles and valuables you would actually sell). Liabilities are the mortgage, any home equity line, card balances, loans, and taxes owed but not yet paid, such as the tax on a large IRA withdrawal or a sale earlier in the year.

Total Assets − Total Liabilities = Net Worth.

Keep traditional and Roth accounts on separate lines. A dollar in a traditional IRA still carries income tax; a dollar in a Roth does not. Anyone reading the statement, from your attorney to your heirs, will read it more accurately with the two apart. To watch net worth from year to year, pair this with the Net Worth Calculator.

What goes on the cash-flow statement in retirement?

Income as you receive it and spending as it leaves, for a typical month, with an annual column beside it. For a retired household the income lines are different from a paycheck: Social Security for each spouse (the gross benefit, with Medicare premiums listed as an expense), pensions, annuity income, IRA and 401(k) withdrawals including required minimum distributions, and interest and dividends you take as cash rather than reinvest.

Total Income − Total Expenses = Net Cash Flow.

Because withdrawals are counted as income, a small surplus or a result near zero is normal in retirement. A persistent shortfall means withdrawals, spending, or both need a look. The template also shows how much of your spending Social Security, pensions and annuities cover on their own, and what share of your investable assets you are withdrawing each year.

A worked example: a retired couple's complete statement

Here is a finished statement for a hypothetical couple, 68 and 66, prepared as of December 31 for their estate-planning attorney. They are retired, have a small mortgage left, and draw on IRAs, a pension, and two Social Security benefits. These are the figures the downloadable template opens with; every total and ratio below is calculated from them the same way the template does it.

Balance sheet (as of December 31)

Net worth: $2,515,000 − $62,500 = $2,452,500. Of that, $590,000 is home equity ($650,000 − $60,000), so the couple's net worth outside the house is $1,862,500. Investable assets, cash plus every investment account, come to $1,805,000.

Cash-flow statement (one month)

Net cash flow: $10,700 − $9,500 = $1,200 surplus a month, or $14,400 a year, which they leave in the cash reserve or give to family. Medicare Part B alone is $202.90 a month per person in 2026 (CMS, 2026), more for higher incomes under IRMAA; the Medicare and IRMAA guide explains the income tiers.

Which ratios matter once you are retired?

Totals tell you where you stand. Ratios tell you whether that position will hold. A working household is judged on savings rate and debt-to-income; a retired one on how much of its spending is guaranteed and how hard the portfolio is being drawn. Using the example:

• Guaranteed income as a share of spending: Social Security and the pension, $5,900, divided by expenses of $9,500 = 62%. The higher this is, the less the portfolio has to supply in a bad market year. The guide to when to claim Social Security and pension lump sum vs. annuity cover the two biggest levers.
• Withdrawal rate: IRA withdrawals of $48,000 a year divided by investable assets of $1,805,000 = 2.7%. That is comfortably below the roughly 4% starting rate often used as a rule of thumb, and it leaves room for higher RMDs later.
• Cash reserve: cash and near-cash of $125,000 covers 13 months of total spending, or about 26 months of what the portfolio supplies ($4,800 a month in withdrawals and dividends). Many retirees hold one to two years of withdrawals in cash so they are not forced to sell after a market decline.
• Debt-to-asset ratio: total liabilities divided by total assets. $62,500 ÷ $2,515,000 = 2.5%. The remaining mortgage is small enough to clear from the brokerage account if they choose; whether they should depends on its rate and the tax on the sale.

How should you value the tricky line items?

Most errors on a personal financial statement come from a handful of assets that don't have an obvious price.

• Your home: use a realistic sale price based on recent comparable sales nearby. Online estimates are a starting point, and county assessed values often lag the market. If you are weighing a move, subtract expected selling costs to see what you would actually have to reinvest; the downsizing guide works through the numbers.
• Traditional IRAs and 401(k)s: list the full balance, as lenders expect. For your own planning, remember part of it is tax not yet paid: at a 22% federal rate the example's $1,100,000 is worth about $858,000 after federal tax. Required minimum distributions begin at 73, or 75 if you were born in 1960 or later.
• Annuities: list the cash surrender value, what the insurer would pay if you cashed out today after any surrender charge, not the contract or death-benefit value. An annuity already paying income with no cash value belongs on the cash-flow statement only.
• Pensions and Social Security: these are income, not assets, so they appear on the cash-flow statement. If your plan still offers a lump sum, note the offer amount beside the pension line.
• Life insurance: only permanent policies (whole or universal life) have a cash surrender value to list. The death benefit is not an asset of yours, though your attorney will want it listed separately for estate planning. Term policies have no cash value.
• Inherited IRAs: list them on their own line. Most non-spouse beneficiaries must empty them within ten years, so they will be taxed sooner than your own IRA; see the inherited IRA 10-year rule.
• Business interests and vehicles: list your ownership share at a realistic sale value, and cars at private-party resale value, not what you paid.

Who asks for a personal financial statement, and what do they check?

Estate-planning attorneys use it to decide what documents you need and how assets should pass: which accounts go by beneficiary designation, which by will or trust, and whether the estate is near the federal estate-tax exclusion, which is $15 million per person in 2026 (IRS, 2026), or a lower state threshold. Bring the statement with a list of who is named as beneficiary on each account. The Estate Planning Worksheet and estate planning basics cover the rest.

Mortgage and bank lenders use it for a purchase or refinance in retirement, a home equity line, or a bridge loan when buying before selling. They focus on debt-to-income and reserves, and they will match the figures to your statements. Lenders generally accept Social Security, pensions, and regular retirement-account distributions as income when they are documented and, for distributions, expected to continue for at least three years under Fannie Mae's rules (Fannie Mae, 2026), so bring the award letters and account statements that show it.

Continuing-care retirement communities often ask for a financial statement with the application to confirm that you can cover the entrance fee and the monthly charges over a long stay. Adult children who will serve as executor or hold a power of attorney need something simpler: a current copy, where each account is held, and whom to call. Keeping the statement up to date is one of the most useful things you can leave them.

The Small Business Administration uses SBA Form 413 for 7(a) and 504 loans, SBA disaster loans, and its 8(a) and women-owned small business programs. It is generally required from each owner of 20% or more of the business and from anyone guaranteeing the loan, which can include a retired parent guaranteeing a child's business loan. Form 413 asks for a few items this template does not track, such as notes receivable and contingent liabilities like loans you have co-signed. Its income section is annual, so use the template's annual column.

Private investment offerings may ask you to confirm you are an accredited investor. Under the SEC's definition, one way to qualify is a net worth over $1 million, alone or with a spouse or spousal equivalent, excluding the value of your primary residence. That is why the "net worth outside the house" figure in the example is worth calculating.

Excel, Google Sheets, or a fillable PDF?

To work out your numbers, a spreadsheet is better than a PDF: the Excel and Google Sheets versions of this template add up every section and update net worth and net cash flow as you type. To submit to a lender, use the form they give you, often a fillable PDF such as SBA Form 413, and copy your finished totals onto it.

Both spreadsheet versions have the same formulas. Choose Excel if you want the file kept offline on your own computer. Choose Google Sheets if you want to share it with a spouse, an adult child who helps with your finances, or your planner. For the monthly spending side in more detail, the Personal Budget Planner works well alongside it.

Why keep one if no one has asked for it?

Updated once a year, the statement turns a scattered set of accounts into two numbers you can follow: a net worth that shows whether the portfolio is keeping pace with your withdrawals, and a net cash flow that shows whether each year adds to or draws down your savings. It also answers the questions that come up in retirement, such as how much of our spending is guaranteed, how hard we are drawing on the portfolio, and what our heirs would need to find, before anyone else has to ask.