I just signed up with pralana, and I feel like this is a basic, and maybe often asked question. I did try to search, but the few attempts i did yielded no results. It might make sense to have a new users dumb questions subforum.
I'm self employed, our income is kind of variable. We have a philosophy of invest heavily, loosely budget the rest, and if there's anything left over it's extra investments. In retirement we will be much more budget oriented. Right now our baseline contributions to investments are very predictable, but our spending is not so much.
I'd much rather be able to have an option during working years that would essentially say Income -> Invest/save: $XXXX -> Expenses: spend all remaining.
Then in retirement years do the income/expenses model that Pralana currently seems to use.
Would i be correct in saying that it seems like i just have to create a bogus expense category and try to match it's yoy growth with our yoy income growth expectations?
@nstivachtis It is true that there's no getting around the basic functioning of the model: Income minus expenses = new contributions to your cash and/or taxable account; there is no mechanism that says "I want to save x and spend the rest". So, to achieve a particular investment rate you do have to specify your income and expenses accordingly.
Stuart
