Planned retirement date for assets in current fiscal year not supported

What causes this issue?

You are running a fixed asset simulation for fixed assets on a planned
asset retirement date for company code &V1& in fiscal year &V2&.
This is <ZH>not</> allowed. An asset simulation up to a planned asset
retirement date is only possible for future fiscal years that are not
yet open.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.