FAQ: How Do I Model Earlier Retirement Dates?

1. Copy Your Scenario: Go to Planning > Projections and make a copy of your existing scenario using the Copy button. Name your copy so you can keep track of each scenario.

2. Change Your Retirement Age: In the copied scenario, change your retirement age using the Advanced Options section. At the moment changing the retirement age does not control Income or Expenses, but it does control start of Success Rate analysis, start/stop of decumulation/accumulation strategies etc.

   

3. Change Your Income: In the copied scenario go down to the Planning Table and manually reduce your income for the period you want to retire early using an override. In the table open the Income columns using the “>” arrow, then find the year you want to reduce employment income for, double click, and add a manual override to zero it out (or reduce if it’s a partial year of income). Then Recalculate your plan to integrate that change. This change will only affect the one scenario, so now you can compare one scenario vs the other.

   

4. (Optional) Change Spending: If you also have different spending in retirement you can make the same adjustment by adding or reducing “Other” spending column.