FAQ: How Do I Model Different Retirement Ages Between Spouses?

This can be done in the Discovery > Income section, copy the existing Income "snapshot" using the three dot menu icon. Add a name and age range for the new copied snapshot (example: "phased retirement") and make sure the age range entered is for your ages when your partner is still working.

Then after the snapshot is copied, remove your income because you are retired but leave their income because they are still working, the platform will pull this new income snapshot range into the Projections.

You can see a guide for creating new income snapshots below:

How to Create New Income Snapshots

Step 1: Add a New Income Snapshot

  1. Navigate to the Income Section in Discovery.
  2. Click to add a new financial snapshot.
  3. Name the snapshot to reflect its purpose (e.g., "Part-Time Work").

Step 2: Define the Income Period

  1. Specify the start and end ages for this phase.
    • Example: If Jennifer plans part-time work from age 56 to 57, set this range.
    • Note: The end age is inclusive. A phase from 56 to 57 will cover both ages.

Step 3: Enter Gross Income

  1. Input the gross monthly income during this phase.

    • Example: Jennifer expects $1,500/month during part-time work.

      Leave deductions (e.g., taxes, CPP, EI) as zero if unknown.

    • The platform will auto-calculate these amounts during projections.

Step 4: Adjust for Special Deductions

If applicable, manually input special deductions, such as:

  • Pension contributions (if continuing to contribute during this phase).
  • Other workplace deductions (if known).

Step 5: Review and Save

  • Ensure the gross income and period are accurate.
  • Save the snapshot to integrate it into the overall income projections.