Explore how investment fees, income taxes and realised gains affect a hypothetical portfolio. The calculator below compares preset allocations and tax-rate assumptions, then separates their first-year costs. Its results are teaching examples, not forecasts or personal tax estimates. Use the linked research areas to examine allocation, alternatives and ownership structures. Open the assumptions before interpreting a result, and verify the applicable rules and product terms separately.
An investment decision has several layers. Expected return and risk matter. So do fees, tax character, liquidity and the amount available after an eventual sale. A useful comparison holds the relevant assumptions constant and shows which change causes the result. The three steps below provide a starting framework.
Describe the allocation, concentration, liquidity needs and risk assumptions. Two different portfolio shapes can have different gross returns and risks. A larger projected balance does not establish that one allocation is suitable or that its manager is more skilled.
Identify fund fees, advisory charges, incentive arrangements, financing, transaction costs and any policy or administration charges. Establish whether quoted returns already include each cost. Counting a fee twice understates the result; omitting it overstates the result.
Distinguish income received, gains realised during the holding period and unrealised gains remaining at the end. Then specify the applicable tax rates and the exit being measured. An account value before final sale tax is not the same as spendable proceeds after selling.
Holding the investments constant helps isolate differences in fees, tax timing and ownership costs. If the allocation also changes, part of the result can come from different return and risk assumptions. Include final-sale tax where relevant, identify what is omitted and test more than one scenario.
The four research areas address different questions. Start with the question you need to resolve, then inspect the assumptions and limitations of the linked tool. A portfolio, tax or structure comparison is an illustration until its inputs and legal treatment have been established for the actual arrangement.
Allocation, concentration, liquidity and the distinction between gross returns and outcomes after costs. Compare portfolio assumptions before treating a difference as a fee or tax effect.
Income character, realised gains and the timing of tax payments. Separate annual tax drag from taxes that may remain due when investments are sold.
Hedge-fund fee arrangements, private-credit income, financing and credit-loss assumptions. Quoted returns and yields need a stated cost and tax basis.
Trust, entity and insurance arrangements, including PPLI. Compare ownership, control, costs, access and relevant legal requirements before relying on a model.
The Wealth Intelligence Profile lets you enter a broader set of scenario assumptions and open the detailed instruments through its profile links. The quick calculator above uses its own presets. Changing it does not automatically update a saved profile, and opening a standard research link does not carry those inputs into another tool.
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Open the Wealth Intelligence ProfileEach link below opens a different analytical question. Read its methodology and default assumptions before comparing results. The Wealth Intelligence Profile can pass selected assumptions to an instrument through its profile links, but instruments represent different features and may simplify or combine inputs. Matching one headline input does not guarantee matching outputs.
Wealth SimulatorAllocation, withdrawals and long-term scenario valuesOpen the instrument → Portfolio Tax DragIncome character, turnover and modelled annual taxOpen the instrument → Hedge Fund X-RayManagement fees, incentive terms and assumed tax characterOpen the instrument → Private Credit Real YieldCoupon income, deployment, leverage and credit-loss assumptionsOpen the instrument → PPLI Economics and Break-EvenIllustrative policy charges and comparison of stated exit valuesOpen the instrument → Liquidity Event PlannerSale proceeds, tax assumptions, reserves and reinvestment timingOpen the instrument → Wealth Intelligence ProfileA separate saved scenario with links to detailed instrumentsOpen the profile →Send the page link and the assumption, source or calculation you want to discuss. Keep the first message general. An inquiry does not confirm a professional review, response deadline or appointment.
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