Adding life events to a financial plan
Life events are milestones in a client's financial timeline — retirement, paying off the mortgage, a property purchase, or other significant changes. Prospo generates them automatically from the client's Fact-Find goals and personal details.
Viewing life events
- Open the client's profile and go to Financial Modelling
- In the right panel, select the Life Events tab
Events are displayed as a chronological timeline. Each event shows the year it occurs and a label describing the milestone.
How life events are generated
Prospo creates life events automatically when a projection is calculated:
From goals in the Fact-Find
Each goal the client has set becomes a life event at its target start year. The event type is determined by the goal's category — for example, a property goal creates a housing event, an investment goal creates an investment event.
Retirement event
A retirement event is generated from the retirement goal's start year in the Fact-Find, or calculated from the client's date of birth using a default retirement age of 65 if no retirement goal is set. At retirement, salary and super contributions stop, and super drawdown begins.
Debt-free milestone
If the client has a home loan, Prospo calculates when it will be fully repaid based on the loan balance, interest rate, and term, and generates a debt-free life event at that year.
Event types
TypeWhat it represents
Retirement
Salary stops, super drawdown begins
Property / Housing
Property purchase or related milestone
Family
Family expansion or related goal
Investment
Investment-related goal or milestone
Debt-free
Home loan fully repaid
Keeping life events accurate
Life events reflect the goals and personal details in the client's Fact-Find. To update them:
- Open the client's Fact-Find and update the relevant goal (target year, category) or personal details (date of birth, retirement goal)
- Return to Financial Modelling and click Recalculate
The Life Events timeline will update to reflect the changes.