Originally from ticket #9720.
Hi there -
I did watch the videos and played around with the demo a bit. I like it a lot. Do you know if the software has the capability to adjust one's income level over time? I am considering how long I need to work in a "high stress job" to achieve my retirement goals and when I could switch to a lower-paying, lower-stress job in the future, still saving for retirement, but at a much different rate.
Cursorily, it looks like the software assumes a steady income with x% of increase over the years. Is there a way to model different incomes over time?
Thanks
Wendy
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Wendy,
The Job Income is only used if you set the contribution rates to the investments to a percentage of pay.
If you want to do what you mention. I would not enter a job income at all.
And I would use Cash infusions to enter dollar amounts that you save over the next few years.
So one period might be higher amounts being saved... use last column to select which bucket it is being saved into.
Then use another line for the lower amounts you are saving at the lower paying job.
The program does not calculate or net out income and expenses prior to "retirement" because its focus is on the retirement period. However, any cash infusions or special expenses that occur before retirement are still injected or netted out depending on which it is.