Concepts

Years and Ages

The years and ages displayed throughout the app are based on the start date of calculations, and how it compares to the client's birthday.

Initial Age

That's exactly the client's age at the start date.

Transacions

When adding any transaction (salary, retirement etc) the ages shown in the fields are relative to the main client.

Salary

Salary transactions are a special case in which they can specify which of the partners the transaction refers to. The ages shown refer to the chosen partner's age.

Age bands

All output tables, as well as the Excel export tables, display the clients' ages in bands for a given year.

The relationship between age bands and years works as follows:

1. For any given year, the base age is the age calculated for the day and month of the start date in that year.
2. The age band is then, base age to base age + 1.

Examples

A client born on 01/12/1980 seeks your services on 05/12/2022, and you set up the client with a start date of 05/12/2022. Their initial age is 42, i.e. their current age.

The output tables will display as:

Year	Age
2022	42 to 43
2023	43 to 44

That might be counterintuitive, because in real life the client entered 2022 at 41 years old ended the year at 42.

However, note that start date is the date used as base for age calculations in every given year. In the first year, base age is their current age. When you revisit the client a year later, in 05/12/2033, the base age will be 43.

tip

The recommended way to interpret that data is to look at the age bands as the 1 year period of cashflow calculations, and use the calendar year just as a reference.

If that discrepancy is too big to be bearable, it is suggested to pick a more appropriate start date for the client. For the client in this example, using a start date of 31/11/2022, or any other date before their birthday, might produce more realistic outputs, even though the initial age will be listed as 41.

Year	Age
2022	41 to 42
2023	42 to 43

tip

Exercise discretion when choosing a start date to best fit what you want to convey to the client.

Simulations

See simulations page