Introducing Milestones in ProjectionLab v2.5.0 – a dynamic way to model important life stages and decisions.
Don’t want to enter the same start and end age into a dozen inputs? Good! There’s a thing for that.
ProjectionLab v2.5.0 rolls out a new feature called Milestones, where you can define important stages in your life and the criteria for when they happen.
You can model just about anything, and for inspiration there are some common presets like Financial Independence, FIRE, CoastFIRE, LeanFIRE, FatFIRE, etc.
But really, whatever you want can be a milestone. You can change the colors and icons to fit, and you’ll see it plotted in the chart when you reach it.
Binding Milestones to Plan Elements
Here’s the important part. You can bind the start/end of anything in your plan to one of these milestones. This makes your plan more dynamic, streamlines configuration, and allows for easier experimentation when changes affect multiple things. Update your milestone settings, and see your whole financial plan adjust accordingly!
Integration with Monte Carlo Simulations
You might be wondering: how does this work with Monte Carlo simulations? Well, every trial is a unique simulation run, and conditional milestones with criteria like “when liquid net worth reaches X times annual expenses” won’t always happen in the same year.
That’s why you’ll see a new table in your Monte Carlo results that details when your conditional milestones were achieved, from best case to worst:
Hop into the ProjectionLab app and give the milestone system a try! If you have questions, feedback, or suggestions to share, you can reach me at kyle@projectionlab.com, or @scuba-kid on the ProjectionLab Discord Server.
