Help Centre/Tutorials/How to use spending phases

How to use spending phases

2 min read

Summary

Spending Phases let you set a different annual spending amount for a specific age range, rather than one flat figure for your whole plan.
Your base spending figure still applies for any age not covered by a phase.
Common uses: higher spending in active early retirement, lower spending later, or higher costs later in life for care.

Steps

1. Set your base retirement spending figure as usual.

2. Add a Spending Phase with a start year, an end year (or "Ongoing" if it runs to the end of your plan), and the annual spending amount for that period.

3. Add more phases to cover different periods — your base spending applies for any age not covered by a phase.

Example scenarios

"I want to spend more in the first 10 years of retirement, then less"

Add a Spending Phase from your retirement age to 10 years later at a higher amount, then a second phase from that point onward (set to Ongoing) at a lower amount. The cashflow chart reflects both phases immediately.

"I expect higher costs later in life for care"

Add a Spending Phase starting at, say, age 85, set to Ongoing, with a higher annual amount than your base spending — see How to use the cashflow chart to check how it shows up in your year-by-year breakdown.

Frequently asked questions

What happens to ages not covered by a phase?

Your base spending figure applies.

Can I have more than one spending phase?

Yes, add as many as you need to reflect how your spending changes over time.

Is this the same as Contribution Phases?

No — Spending Phases adjust your retirement spending target. Contribution Phases are set per account and adjust how much you contribute before retirement. See How to model account contribution phases.