Longevity Risk — Tax-Xray Suite

Present age

Starting capital

Annual income

exhausts at horizon

Rate of return6.0%

Time horizon (years)25 yrs

Fee Drag

Annual management fee0.00%

Down Years

Down year 1 — which yearYr 3

Down year 1 — loss−15%

Down year 2 — which yearYr 7

Down year 2 — loss−15%

Portfolio Longevity — Spend-Down Simulation

Longevity Risk

Illustrative · not a guarantee

Portfolio Exhaustion — The Verdict

Annual Income — All Scenarios

$0/yr

Baseline

—

No fee · no down years

Reference point

With Fee

—

Fee applied annually

Fee + Down Years

—

Fee · two market events

Average Annualized Return — With Down Years

—

Geometric mean accounting for all down year events

Income Rate on Starting Capital

—

calculated income ÷ starting capital

—