LIFE EVENTS

The LIFE EVENTS table stores important dates. The MoneyReady App works mostly with calendar dates but we also show your age at those dates. We pre-filled it with what you've entered in your Quick Entry Form for your retirement date, and some default settings for the age of the start taking CPP, OAS, and the year of death. We also added some convenience dates when you have a spouse, like first and last to retire, and first and last to die. All the life event in this table can be used to link most of your subsequent entries for the start or end of INCOMES, EXPENSES, AUTOMATIC SAVINGS/WITHDRAWALS etc. to that life event.

You can edit these life events, and when you change the date, all dates linked to that life event will be changed automatically. For example, the pre-retirement EXPENSES entry that was automatically added for you will have it's start linked to "Previous to this year" and end linked to your retirement date. The post-retirement EXPENSES has it start date linked to retirement and end linked to the date of death.

This table will also show you the entries that are linked to the life event.

You can add your own life-events that you may want to link entries to. For example: "start family", "inheritance", "buy house", "empty nester", "downsize", you get the idea. This is great to do if there is a LIFE EVENT that you want to tie to changes in your incomes, expense, real estate and loans. You will also be able to run SCANS on that life event to explore a range of dates for that life events automatically.

The TIME MACHINE uses calendar dates for its calculations, so it needs actual dates. However dates that are far in future are hard to grasp, and we naturally tend to want to convert that date to the age we will be at that date. For this reason, in most forms where a date is required, you can enter a date, or an age (less accurate), or the life event you want the date tied to. In all cases it's the date that will be used in the TIME MACHINE , and you will see below the entry what date that is and what age that corresponds to (in years and months).