Two portfolios with the same gross return can leave a family with very different amounts once fees, income tax and realised gains are counted. The calculator below lets you see that on a hypothetical portfolio: pick a preset allocation and tax-rate assumptions, and it breaks out the first-year costs. The results are teaching examples, not forecasts or personal tax estimates, so open the assumptions before reading anything into them. The research areas further down go deeper into allocation, alternatives and ownership structures.
Return and risk are only the first layer of an investment decision. Fees, tax character, liquidity and what is left after an eventual sale matter just as much. A good comparison changes one thing at a time, so you can see what is driving the difference. The three steps below are a practical place to start.
Describe the allocation, concentration, liquidity needs and risk assumptions. Two different portfolio shapes can have different gross returns and risks. A bigger projected balance does not make an allocation more suitable, or its manager 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. Any portfolio, tax or structure comparison stays an illustration until its inputs and legal treatment have been confirmed for the real 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. Changes there do not update a saved profile, and an ordinary research link does not carry your inputs into another tool.
The profile saves scenarios in your browser on this device. Scripts running on this website may be able to read that storage, so treat it as convenient rather than confidential. On a shared device, use hypothetical figures, and read the Privacy Policy. Reset Profile clears saved scenarios; it does not erase the site's other records or browser history.
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 tell us which assumption, source or calculation you would like to discuss. There is no need for personal or financial details at this stage. We treat every question as a research inquiry; it does not set up a professional review, an appointment or a response deadline.
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