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Adding Earned Income in ReachFI

2 min

Adding Earned Income in ReachFi

What is Earned Income?

Earned income refers to money received from active work, including:
Salaries & wages from a full-time or part-time job
Bonuses & commissions
Tips
Other employer-based compensation

Earned income is subject to payroll taxes and differs from passive income, self-employment income, or Social Security benefits, which are listed separately in ReachFI.


How to Add Earned Income in ReachFI

Step 1: Select the Income Type

  1. Navigate to the Income section.
  2. Choose Earned Income.

Step 2: Enter Your Income Details

Step 3: Define the Income Duration

📌 Your End Date helps you explore financial scenarios like early retirement, career breaks, or transitioning to passive income.

Step 4: Save Your Income Entry


How Earned Income Helps You Plan for Retirement or a Career Change

By adjusting your End Date, you can explore different scenarios:

🔹 Testing When You Can Retire

🔹 Modeling a Career Break or Part-Time Work

🔹 Understanding Financial Independence (FI)


Important Disclaimer

ReachFi provides financial modeling tools for scenario planning, but these projections rely on the data you input and assumptions about market returns. This is not financial advice. Consult a financial professional before making decisions about retirement, quitting a job, or adjusting income sources.



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