The step option allows you to alter the amount of an expense, income, savings contribution, growth rate etc. at a specified event during the time span of that item. The event must fall within the time span.
Let's use employment income as an example. When an income is added, the timing is automatically assumed to be the start of the plan to the retirement event.
In this example Stephen's income will stop at his retirement event, age 65. Let's assume that Stephen wants to reduce his hours and go part time when he is 60 years old.
Add an event at age 60. Note that when adding a step the event must always be positioned in a year following the start of the income and prior to the end of employment.
Select Step from the menu on the left hand side and then click on Add Step.
In Basics enter the reduced, part time income details. When stepping an income you will see that you can also step Bonuses/Commissions and Benefits in Kind by selecting the toggle button and then entering the figures.
Do not hit save yet, select Timing.
Now click and drag the newly created event at age 60 to the Step Occurs box. Stephen's income will now step down at age 60 and continue to age 65. Now click Save.
Steps can be used to increase/decrease savings/pensions contributions, expenses, growth rate, interest rates on debts and many other items. Whilst examples of how to do each individual one is not shown here, the principles remain the same.