My inputs seem reasonable yet the report is suggesting I increase my consumption from $21,000 to $61,000. That $21k number is totally bogus. My current consumption is well north of $50k. Is ESPlanner or me at fault here?
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Kevin, Well, I don't want to say this too directly, but it's you who are fault insofar as the program is simply using your own inputs to back out how much you are consuming this year. Consumption here means discretionary spending. What I'd like to ask you to do is to go to the current saving screen under Assets and Saving and make sure that all the entries there are correct. We derive your current consumption by subtracting a number of things from your current income. On of the things we subtract is your current saving. If you are withdrawing from, for example, your savings account this year, you'll need to enter a negative value in that field, which will tell the program that you are actually consuming more, since minus a minus is a positive.
Also, call me at 617 834-2148 if this isn't clear.
best, Larry