Annuity-equivalent Monte Carlo — 100% equity

Stochastic long-term-care events, drawn independently for each annuitant. Care lasts until death; costs beyond the household’s income are funded by selling assets per the funding split below.

Care costs vary a lot by region and setting. The federal cost-of-care tool at ltcfeds.gov/tools/cost-of-care shows current local costs for home care, assisted living, and nursing facilities — useful for setting the LTC cost above.

Social Security, pensions, rent, … — the household spends all of its income every year, plus the annuity-equivalent equity proceeds.

Applied to real (today’s-dollar) values only. The married-filing-jointly schedule applies while both annuitants are alive, the single schedule after one dies.

The household’s investment accounts. The simulated equity portfolio is the sum of the accounts’ Equities holdings — there is no separate amount input. Fixed-income holdings grow alongside it and fund long-term-care shortfalls.