Lifetime Planner and Living expense inclusion

LadyB59 Member ✭✭
When using the lifetime planner, I have a mortgage loan and escrow that is included in my plan. I'm using a category detail for my living expenses. Do I also add Mortgage Principal/Interest/Escrow in this screen also? Just want to make sure I'm not double entering this expense in my plan.


  • Scooterlam
    Scooterlam SuperUser, Windows Beta Beta
    edited June 2022
    You would include the mortgage P+I and other asset expenses under Current homes and assets (image 1) OR you would include them as Living Expenses using Category Detail. (image 2) - but do not include them in both places.  Its your call.

    Check to see if your exenses are reported correctly by inspecting the Income and Expense Summary tables for any given year by clicking on the bar chart year in the Plan:Results graph.  (image 3).   In my test file example, I purposefully included P+I in Asset Expense and Category Detail to illustrate how they are reported in the table and an example of "double dipping".  Disregard the rounding errors...

    Personally, I account for all my home expenses PITI, maintance and improvement expenses as part of my asset expenses (image 1).   Including them here, IMO, makes it simplier or less confusing to do "what-if" scenarios around home buys and sells in the future.    Also, these are future planned expenses and not subject to what I've spent in the past.   My take....

    Good question,  its easy to double dip when setting LTP up, for sure.  Hope this helps.

    Image 1 - Asset Expense Approach

    Image 2 - Category Detail Approach

    Image 3 - Validating Assumptions in Plan Result Tables

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