Dollars Needed for Dependency Expenses (assuming the children have n years until they become selfsupporting and you can earn an i% after-tax and after-inflation return on your investments) (line wx PVIFA 1%, n yr )=( line w PVIFA _ %,yr)= (line wx =x. Step 5: Spousal Life Income (spousal needs after children are selfsupporting) Desired Spousal Income Total Spousal Life Income or Money in Today's Dollars to Provide for Desired Spousal Income (assuming n years until the children become self-supporting and m years until the spouse qualifies for Social Security or retirement income, and assuming you can earn i% after-tax and after-inflation return on your investments) [line y x (PVIFA 1%, m yr - PVIFA 1%, n yr )]= [line y x (PVIFA _ \%, yr - PVIFA _ \%, yr ] ] = [line y( =z. Step 6: Educational Expenses for Your children Total Educational Expenses (private school needs plus total college needs) aa $63,000 Step 7: Retirement Income Additional Desired Annual Income at Retiremebb. Total Retirement Income or Money in Today's Dollars to Provide for Desired Retirement Income (assuming retirement in m years and desiring the additional income for p additional years, and assuming you can earn i% after-tax and after-inflation return on your investments) [line bb x (PVIFA 1%, m yr - PVIFA 1%, n yr )]= [line bb x (PVIFA _ \%, yr - PVIFA _ \%, yr)] = [line bbx )] =CC