How to Trigger Milestones Before a Specific Age or Calendar Year

ProjectionLab offers enhanced Milestone options, allowing you to set goals tied to achieving specific metrics before a certain age or date, not just on it. This feature enhances flexibility and detail in Milestone-based planning, enabling you to stay aligned with key financial goals. Examples include:

• Reaching a target net worth by age 40 to qualify for early retirement.
• Deciding to return to work if net worth falls below $1,000,000 before reaching age 60.
• Saving $50,000 by age 35 to cover a child’s tuition upfront.
• Accumulating $80,000 by age 45 to purchase a vacation home without borrowing.

How to Use “Before Specific Age” and “Before Calendar Year”

Note: Unless you modify your date of birth, Before Specific Age and Before Calendar Year are effectively interchangeable.

1. Access Milestones

• Navigate to Settings > Milestones.

• Create a new milestone or select an existing one.

2. Set Milestone Criteria

• Choosing “Before you reach age”

  

  Example: Save $75,000 in Taxable Investments before age 39 to return to school.

  • Define a target age (e.g., 39).
  • Add additional financial goals, such as achieving a specific net worth or savings amount.

• Choosing “Before calendar year”

  

  Example 1: Relocate closer to family by 2032, provided my net worth reaches $650K or more and I’ve had my first child.

  • Set a target year (e.g., 2032).
  • Align it with financial goals like funding a major expense or life change.

  Example 2: Return to work if your portfolio value drops below a set threshold before a certain calendar year.

  

  • Create a custom milestone and label it according to your preference, such as “Return to Work.”
  • Set the milestone to occur before a specified year (e.g., 2040).
  • Tie an additional criterion of the milestone to a specific net worth or portfolio value (e.g., below $1M).
  • Note: The “Before you reach age” functionality could also be applied in this example.