Tuesday, March 4, 2014
Pre-retirement Budget
10:40 AM
Question:
When doing a pre-retirement budget for a couple I enter the budget under one of the individuals and it still shows a budget for the other spouse. Why?
Answer:
For pre-retirement, each spouse has their own budget relative to income. In your case, you put the budget under one spouse and have not completed a budget for the other spouse.
In cases where there is no budget, the program assumes a default budget equal to after-tax income less savings. So for pre-retirement, it's best to complete a budget for each spouse commensurate with their income, or complete no budget for either spouse.
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