Exhibit 5
Simulation Results in Normal Markets
| 15% STARTING ALTERNATIVES ALLOCATION | 50% STARTING ALTERNATIVES ALLOCATION | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Yr | Equities | Fixed | Alt | Fund value | Yr | Equities | Fixed | Alt | Fund value |
| 6% spending, no contributions | 6% spending, no contributions | ||||||||
| 0 | 60% | 25% | 15% | $1,000,000 | 0 | 35% | 15% | 50% | $1,000,000 |
| 1 | 58% | 25% | 17% | $1,027,250 | 1 | 30% | 13% | 57% | $1,032,500 |
| 2 | 56% | 24% | 20% | $1,055,594 | 2 | 24% | 10% | 65% | $1,067,188 |
| 3 | 54% | 23% | 22% | $1,085,111 | 3 | 18% | 8% | 74% | $1,104,293 |
| 4% spending, 4% contributions | 4% spending, 4% contributions | ||||||||
| 0 | 60% | 26% | 15% | $1,000,000 | 0 | 35% | 15% | 50% | $1,000,000 |
| 1 | 59% | 25% | 16% | $1,087,250 | 1 | 32% | 14% | 54% | $1,092,500 |
| 2 | 58% | 25% | 18% | $1,182,329 | 2 | 29% | 13% | 58% | $1,194,238 |
| 3 | 57% | 24% | 19% | $1,285,954 | 3 | 26% | 11% | 62% | $1,306,173 |