Timing - Employment and other incomes

Schedule recurring Employment and Other Income

Start and end events (a green dot and a red dot) are used to schedule when an income is to begin and end. Incomes are initially set to begin at the start of the plan (the Start event) and to end at the earner’s Retirement event.

Default_timing.PNG

Different start and/or end events can always be selected if you need to schedule an income to begin or end earlier or later in the planning timeline. If you need to do this, add an event to the timeline, then deselect the green or red dot from the current start or end point, depending on which one you wish to change, and then select the new event so the dot appears there. 

Edited_timing.PNG

Stages can also be used to schedule incomes. An income could be scheduled to occur over one of more stages, as selected on the Stages tab of the Time panel. If multiple stages are selected, the income will be active from the beginning of the first selected stage until the end of last. Nevertheless, start and end events are usually the more flexible option for scheduling.

Incomes entered for individuals who are retired from the beginning of a plan will be set, by default, to be earned until the owner’s death, unless set otherwise on the Employment screen’s Time panel. 

 

One-Off Incomes

If you need to schedule a single-year, one-off income, select a single event (green dot) without selecting an end event (red dot). 

One_off.PNG

Do not over-think the semantics of the "Annual" option. A one-off income will occur only once. In most cases a one-off income would be entered in an annual amount. Select Annual to indicate that the amount entered is an annual one.