Model different risk profiles and withdrawal strategies
💰 Asset Allocation
$
Equities, mutual funds, variable annuities
$
Bank accounts, home equity, REITs, CDs
$
Fixed annuities, PGA, bonds
Total Assets
$450,000
⚠ Risk Score (0=Safe, 100=Max Risk)
—
Enter assets to calculate
📈 Growth & Withdrawal
💵 Income Sources
$
Target income goal — gaps shown prominently in reports
$
SS inflation rate
$
$
🔄 Roth Conversion
$
💼 Income Draw Priority
⠿🟢
Green — PGA / Protected
Fixed annuities, bonds, principal protected
1
⠿🔴
Red — Market / Equities
Stocks, mutual funds, variable annuities
2
⠿🟡
Yellow — Bank / Liquid
Bank accounts, CDs, home equity
3
Draw order: 🟢 PGA → 🔴 Market → 🟡 Yellow
🛡 Protected Growth Account (PGA)
🛡 PGA — Protected Growth Account
Select your crediting strategy. The Performance Trigger credits a flat rate in positive index years, 0% in negative years — principal always protected.
Rate credited when index is ≥ 0 · PGA Account: 7.55% (current rate)
Max annual gain credited · gains above cap are forfeited
% of index gain credited (e.g. 70% of S&P gain)
$
Set Green Money above to the same amount to reflect in portfolio
* A PGA may be subject to surrender schedules. Consult the product prospectus for details.
Annual growth of income base while deferring
% of benefit base paid as guaranteed annual income
📊
Select a client to view reports.
John Test — Reports
Retirement analysis and projections
🛡 With PGA
TOTAL ASSETS
$450,000
INCOME LASTS
Age 81
MC SUCCESS
16%
ANNUAL GOAL
$60,000
vs
📊 Without PGA
TOTAL ASSETS
$450,000
INCOME LASTS
Age 79
MC SUCCESS
7%
ANNUAL GOAL
$60,000
🛡 PGA Overlay
ON
Protected Growth Account (PGA) Analysis
Same Risk as Bonds. Better Returns. A Guaranteed 0% Floor Bonds Can't Offer.
Prof. Roger Ibbotson (Yale) challenged conventional wisdom: retiring into bonds is the default — but 90 years of data show that a Fixed Indexed Annuity delivers higher returns with identical risk, zero downside, and critically outperforms when bonds fail most.
📊 90-Year Study: FIA vs. Bonds (1927–2016)
5.81%
FIA Annual Return
5.32%
Bonds Annual Return
0.00%
FIA Worst 3-yr Return
10.01%
FIA Std Dev (same as bonds)
−2.32%
Bond Worst 3-yr Return
4.42%
FIA Return When Bonds Fail
Ibbotson · "Fixed Indexed Annuities: Consider the Alternative" · Yale / Zebra Capital (2018)
🎓
The Case Against Default Bond Allocation — Prof. Roger G. Ibbotson, PhD, Yale School of Management
Conventional wisdom says de-risk into bonds as you approach retirement. Ibbotson's 2018 research challenges this: over 90 years, a properly structured FIA outperformed bonds by 0.49%/yr with virtually identical volatility (10.01% vs 9.97% std dev) — and crucially, never had a losing 3-year period (bonds hit −2.32%). When bonds most underperformed (below-median periods), the FIA returned 4.42% vs. bonds' 1.87%. Portfolio modeling showed replacing the bond allocation with an FIA (60/40 Stocks & FIA) raised average returns from 8.55% to 8.77% — while providing superior crash protection. The thesis: if you're going to de-risk, FIA is a better alternative to bonds.
Risk Profile
TRADITIONAL
Stocks: σ 19.99%
WITH PGA
FIA: σ 10.01%
✓ PGA Wins · Ibbotson: bond-level risk
MC Success Rate
TRADITIONAL
11%
WITH PGA
14%
✓ FIA Wins
Income Lasts Until
TRADITIONAL
Age 79
WITH PGA
Age 81
✓ FIA Wins
Worst 3-yr Return
TRADITIONAL
Stocks: −27%
WITH PGA
FIA: 0.00%
✓ PGA Wins · Ibbotson 1927–2016 floor
Total Income
TRADITIONAL
$987,542
WITH PGA
$1,141,541
✓ FIA Wins
Portfolio Value — Side by Side
Red = Traditional · Green = With PGA
Monte Carlo — Both Portfolios
Historical bootstrap (1928–2025) · Tighter band = lower volatility = more predictable outcome
🛡
PGA Account Performance Trigger
1 Year S&P 500 Performance Triggered · Specified Rate: 7.55%
How it works: At end of each term — if S&P 500 changed ≥ 0% → account credited 7.55%. If S&P 500 was negative → credited 0%. Principal never decreases.
TRADITIONAL PORTFOLIO
-$60,000
−30% of $200,000 lost in crash
3–5 yr recovery needed
WITH PGA (TRIGGER MODEL)
$0 Lost
0% floor — contractual protection
Zero recovery time ✓
PGA Account Illustration (2011–2026): $400K grew to $958K at 6.00% annualized over 15 years. Down years (2016: −2.21%, 2019: −6.89%, 2022: −20.27%) credited $0 loss; positive years credited 7.55%. Source: PGA Account illustration dated 2/23/2026.
Source: PGA Account illustration (2011–2026) · Hypothetical, not guaranteed
📊 Ibbotson Study: Portfolio Construction with FIAs (1927–2016)
Prof. Roger Ibbotson (Yale) simulated three portfolios across 90 years. In below-median bond environments — most relevant for today — the FIA-heavy portfolio outperformed decisively.
Portfolio
Bonds Underperform
Bonds Outperform
90-yr Avg
60/40 Stocks + Bonds
7.60%
9.50%
8.55%
60/20/20 + FIA
8.12% ↑
9.21%
8.66% ↑
60/40 Stocks + FIA
8.63% ↑↑
8.92%
8.77% ↑↑
Source: Ibbotson, "Fixed Indexed Annuities: Consider the Alternative" (2018) · Zebra Capital · AnnGen Development · 2017 SBBI Yearbook
⚠ Academic data cited from Ibbotson, R.G. "Fixed Indexed Annuities: Consider the Alternative," Zebra Capital Management (January 2018), covering simulated 90-year period 1927–2016 using dynamic participation rates. FIAs were first established in 1995; pre-1995 data is back-tested. Study results represent simulated historical performance and are not a guarantee of future results. Actual FIA performance depends on specific contract terms, index selection, participation rates, caps, spreads, and the claims-paying ability of the issuing carrier. This illustration is hypothetical and for educational purposes only. Not investment advice — consult a licensed financial professional before making any financial decisions.
⚠ This software is for illustrative and planning purposes only. It does not constitute financial, tax, or legal advice. All projections are estimates. Consult a licensed financial advisor.