diff --git a/TODO.md b/TODO.md
index 250aad2..479b37a 100644
--- a/TODO.md
+++ b/TODO.md
@@ -4,14 +4,44 @@
 
 - Configurable return cap per position (default: none; cap outliers like NVDA)
 - Configurable MIN period selection (currently 3Y/5Y/10Y, exclude 1Y)
-- Life events in `projections.srf`: Social Security income, college costs, pensions
-- "Not Retired Yet" mode: contributions until retirement date
-- Multiple spending models (Bernicke, percentage-of-remaining)
+- "Not Retired Yet" mode: accumulation phase with contributions before retirement.
+  Separate from life events — the simulation has two distinct phases: accumulation
+  (base spending = 0, contributions applied) and distribution (searched-for withdrawal
+  + spending model). Config: `retirement_age::60` or `retirement_in::10`, plus
+  `annual_contribution::100000`. Safe withdrawal search only applies to the
+  distribution phase. Chart shows portfolio growing during accumulation, peaking
+  at retirement, then drawing down.
+- Multiple spending models: flat (current), decreasing (1-2% real annual decrease,
+  Blanchett "spending smile"). Late-life healthcare better modeled as a life event.
 - Configurable benchmark symbols (currently hardcoded SPY + AGG)
-- Age-based horizons from birthdates in projections.srf
-- Weekly tracking history (portfolio value + retirement date time series)
-- Kitty graphics percentile band chart (currently braille only)
 - Unclassified position handling in allocation split (warn user)
+- Historical projection comparison: re-run projections from any past snapshot date,
+  overlay actual portfolio trajectory from subsequent snapshots onto the projected
+  percentile bands. Shows how reality tracked against the model. Data is already
+  available in history/*.srf snapshots — just need to load a historical portfolio
+  value and re-run `computePercentileBands` with that starting point, then plot
+  actual values from later snapshots as a line overlaid on the bands.
+
+## Earnings: GAAP vs adjusted EPS + limited history
+
+Two issues with the current Finnhub earnings implementation:
+
+1. **Wrong EPS type:** Finnhub's `/calendar/earnings` and `/stock/earnings` endpoints
+   both return GAAP diluted EPS. The analyst consensus estimates (epsEstimate) are
+   based on adjusted/non-GAAP EPS. Comparing GAAP actual against adjusted estimate
+   produces bogus surprise figures. For Amazon Q1 2026: GAAP = $1.56, adjusted = $2.78.
+   The difference is stock-based compensation and other non-cash items.
+
+2. **Limited history:** `/calendar/earnings` returns only 1-2 near-term events.
+   `/stock/earnings` returns only 4 quarters. Neither provides the 5+ years of
+   history the UI expects.
+
+**Fix options:**
+- Alpha Vantage `EARNINGS` endpoint provides both reported (GAAP) and adjusted EPS
+  with full quarterly history. Would require adding AV as an earnings provider (AV
+  key already configured for ETF profiles).
+- Accept Finnhub data and label it as GAAP, documenting the limitation.
+- Use both: AV for history + adjusted EPS, Finnhub calendar for next-quarter dates.
 
 ## Analysis account/asset-class total mismatch