Friday, December 20, 2013

Budget Statement

2:40 PM



Question:

When I have $0 in expenses for Spouse 1 and 2 in the pre-retirement budget, the report takes the Net Income amount and puts it in the Total Expense amount.

Answer:

In cases where you  and your spouse are not yet retired, if there is no budget, the program tries to create a budget based on net income, assuming all funds are spent or saved.

In other words, the "budget" for someone without a budget is:
expenses = gross income - taxes - annual savings.


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