$1.7m endowment model 10/29/2014

Executive Summary

The Executive Summary provides planning ideas for you to consider based on the assumptions and results in your Recommended Scenario ($1.7M Fd w/12yr SBL). Status dates, whereshown, are suggestions to help you prioritize the actions you may choose based on the time frames you have identified.*

Plan Status

Probability of Success: 76%

Below Confidence Zone

Net Worth

$6,277,598Assets

$400,000Liabilities

$5,877,598Net Worth

Results

The Recommended Scenario has a 76% likelihood of funding all of the financial goals in your plan.

10/29/2014 11:59 AM

Prepared for : Masonic Center of W-S Masonic Temple Financial Goal Analysis Prepared by: Derek Frosh, CFP®, CIMA®

See the Understanding Your Results and Additional Important Information sections in this report for assumptions, limitations, methodologies, and a glossary.

* The Executive Summary is part of and must be provided with the complete Financial Goal Analysis report created on the date and time specified below. If you have not received thecomplete FGA report, please contact your Financial Advisor.

Executive Summary

Goals

Masonic Center of W-S is retired.

Your recommended scenario assumes current annual retirement expenses of $1.

In 2015 your recommended scenario assumes you withdraw $1 for your Construction Overrun goal.

In 2035 your recommended scenario assumes you withdraw $150,000 for your HVAC Repair/Replace 20yr goal.

In 2055 your recommended scenario assumes you withdraw $100,000 for your Kitchen Equipment 40yr goal.

In 2035 your recommended scenario assumes you withdraw $100,000 for your Parking Lot 20yr goal.





In 2040 your recommended scenario assumes you withdraw $120,000 for your Roof Repair/Replace 25yr goal.


In 2055 your recommended scenario assumes you withdraw $40,000 for your Flooring 40yr goal.

In 2065 your recommended scenario assumes you withdraw $60,000 for your Light Fixtures 50yr goal.

In 2065 your recommended scenario assumes you withdraw $9,000 for your Toilet Fixtures 50yr goal.

In 2065 your recommended scenario assumes you withdraw $15,000 for your Plumbing/Piping 50yr goal.

In 2065 your recommended scenario assumes you withdraw $25,000 for your Masonry 50yr goal.

In 2055 your recommended scenario assumes you withdraw $50,000 for your Ceilings 40yr goal.

In 2055 your recommended scenario assumes you withdraw $25,000 for your Casework/Woodwork 40yr goal.

In 2015 your recommended scenario assumes you withdraw $38,618 per occurrence for your SBL Payoff (9yr) goal.

10/29/2014 11:59 AM




Executive Summary




In 2025 your recommended scenario assumes you withdraw $10,000 for your Technology 10yr goal.






In 2025 your recommended scenario assumes you withdraw $10,000 for your Painting 10yr goal.






In 2035 your recommended scenario assumes you withdraw $30,000 for your Furniture 20yr goal.



10/29/2014 11:59 AM




Executive Summary

Other Suggestions Status

Next plan review meeting.

10/29/2014 11:59 AM




Prepared for:

Masonic Center of W-S Masonic Temple

October 29, 2014

Your Financial Goal Analysis

Prepared by:

Derek Frosh, CFP®, CIMA®Senior Vice President - Wealth ManagementPortfolio Manager - Portfolio Manager Program

Financial Planning Services

UBS Financial Services Inc.

Table Of Contents

Welcome to Your Financial Plan 1 - 2

Understanding Your Results 3 - 5

Section 1 Executive Summary

Executive Summary 6 - 8

Net Worth Summary - All Resources 9

Section 2 Current Plan and Assumptions

Your Stated Goals 10 - 16

Current Financial Goals Graph 17

Current Portfolio Allocation 18

Goal Assignment Summary 19

Tax and Inflation Assumptions 20

Risk Assessment 21

Target Band 22

Section 3 Results

Results - Current and Recommended 23 - 27

What If Worksheet 28 - 35

Worksheet Detail - Inside the Numbers Final Result 36

Worksheet Detail - Allocation Comparison 37 - 38

Worksheet Detail - Portfolio Probability Matrix 39

Presentation - Retirement Distribution Cash Flow Chart 40 - 67

Presentation - Retirement Distribution Cash Flow Graphs 68 - 69

Presentation - Cash Used to Fund Goals 70

Section 4 Insurance Analysis

Resources Summary 71 - 73

Additional Important Information 74 - 82

Conducting Business with UBS: Investment Advisory and BrokerDealer Services

83 - 85

10/29/2014 12:00 PM

Prepared for : Masonic Center of W-S Masonic Temple Prepared by: Derek Frosh, CFP®, CIMA®

Welcome to Your Financial Plan

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Page 1 of 85

UBS Financial Services Inc. and your Financial Advisor are pleased to present your Financial Goal Analysis report which is designed to assistyou with personal financial planning. This plan is a result of conversations we've had with you about what's important to you, your financialsituation and your priorities and goals.

Please review the report carefully, including the various assumptions identified throughout the analysis and in report sections titled "YourStated Goals", "Resources Summary", "Risk Assessment", “Target Band”, Worksheet Detail- Allocation Comparison”, "What IfWorksheet", and "Tax and Inflation Assumptions". This report is based on information that you have provided and the accuracy of thereport is dependent upon your providing accurate and complete information. Since any changes to your personal situation or any of theother assumptions that underlie this report could materially impact the results presented, please contact your Financial Advisor if any of theassumptions are incorrect.

This financial plan is current as of the date indicated on the front cover. Unless we have agreed to do so pursuant to a fee-based financialplanning services agreement, we will not update to reflect any changes in your goals, priorities, investment objectives, risk tolerance,investments or market conditions, or changes to the analytical assumptions that underlie this report (e.g., rate of return, risk, inflation, UBSStrategic Asset Allocations, etc.). In addition, UBS Financial Services Inc. will not track or monitor specific investments you make todetermine whether they complement your existing investment objectives or any asset allocation strategy you may adopt, unless youparticipate in a program designed to provide such monitoring.

Changes in your personal circumstances, economic conditions, tax laws, government programs, and other unforeseeable events can havean impact on your financial strategy. As such, it is important that you periodically review your overall financial strategy, the progress youhave made toward meeting your goals, and assess any possible short falls or gaps in light of market conditions and your personalcircumstances.

If you have any questions, please contact your Financial Advisor. We look forward to continuing to work with you.

This analysis assumes that you are subject to U.S. income, gift and estate taxes. Taxes that may be payable in a jurisdiction other than theU.S., or tax strategies that may be applicable in such jurisdiction are not considered in this analysis.

Welcome to Your Financial Plan

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Our Brokerage Financial Planning Services terminate when we deliver the plan to you and do not include ongoing planning advice orreporting. The terms, conditions, fee and scope of our Advisory Financial Planning Services are described in our written agreement with youand our Financial Planning Services Form ADV Disclosure Brochure.

As a firm providing wealth management services to clients in the U.S., we offer both investment advisory and brokerage services. Inproviding a financial plan to you, we may act as a broker-dealer or investment adviser. The capacity in which we provide this service willdepend on whether we charge a fee for the service. Financial plans provided to you free of charge are a service incidental to our brokeragerelationship with you. By contrast, we provide financial planning services in our role as investment adviser for a separate fee and through afinancial planning services agreement with you.

Advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separatecontracts. A detailed explanation regarding the distinctions between investment advisory programs and brokerage service is contained inthe section titled, Conducting Business with UBS: Investment Advisory and Broker-Dealer Services at the back of this report. While we striveto make sure the nature of our services is clear in the materials we publish, if at any time you would like clarification on the nature of youraccounts or the services you are receiving, please speak with your Financial Advisor or visit our web site for additional information atwww.ubs.com/workingwithus.

Regardless of the capacity in which we act or the fee charged, providing a financial plan to you:

• does not affect any other relationship you may have with UBS. The nature of your existing or future UBS accounts, your rights andobligations relating to these accounts, and the terms and conditions of any UBS account agreement in effect do not change in any way.

• does not include initial or on-going advice regarding specific securities or other investments.

You are solely responsible for determining whether to implement any of the suggestions made in the financial plan. You are not required toestablish accounts, purchase products that UBS distributes, or otherwise transact business with UBS Financial Services Inc. or any of ouraffiliates in order to put into action any aspect of your financial plan.

If you decide that you would like UBS to be involved with any aspect of implementing your financial plan, including helping you develop aninvestment strategy, we would be delighted to help you through our brokerage and advisory capabilities. The capacity in which we actwhen helping you implement an investment strategy will depend on, and vary by, the nature of your accounts (i.e., brokerage or advisoryaccounts) used for such implementation.

UBS Financial Services Inc. and its employees do not provide tax or legal advice. Clients should consult with their legal and tax advisorsregarding their particular circumstances.

Financial Planning as a Brokerage or Investment Advisory Service

Implementing Your Financial Plan

Note regarding retirement account assets

Unless you enter into a separate written contractual arrangement with UBS providing otherwise, none of UBS Financial Services Inc, itsregistered representatives, or its employees or agents agree that this report should be a primary basis for decisions you make regardingimplementation of any asset allocation or investment strategy. Moreover, although this report is based on information you have provided,none of these persons agrees that the report is intended to take into account the particular needs of any retirement account. Thus, none ofsuch persons has the responsibility or authority to provide and has not provided or will provide "investment advice” as defined underapplicable ERISA regulations. Further, none of such persons has acted, or will act, otherwise as a “fiduciary” as defined in ERISA or theInternal Revenue Code or similar state or local laws.

Understanding Your Results

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All results presented in this report are hypothetical in nature, do not reflect actualinvestment results, and are not guarantees of future results. Please note that the report usesassumptions that may not completely or accurately reflect your specific circumstances. Asactual investment returns, inflation, taxes, and other economic conditions will vary from theassumptions used in this report, your actual results will vary (perhaps significantly) fromthose presented in this report.

Methodology

This analysis can provide several methods of calculating results, each of which provides aseparate outcome. The methodologies that can be used are: "Average Returns", "BadTiming", "Asset Class Sensitivity", and "Monte Carlo Results" each of which is describedbelow.

Results Using Average Returns

The Results Using Average Returns are calculated using one average return for yourpre-retirement period and one average return for your post-retirement period. AverageReturns are a simplified assumption. In the real world, year to year investment returns can(and often do) vary from the long-term average return.

Results with Bad Timing

Similar to the Results with Average Returns, the Results with Bad Timing uses an overallaverage return. However, the Results with Bad Timing illustrates poor returns in one or twoyears and then increased average returns for all remaining years of the Plan. Specifically, thedefault for the first year of low returns is two standard deviations less than the averagereturn, and the default for the second year is one standard deviation less than the averagereturn.

As a default, the first year of the poor results occurs during the first year of retirement.Typically, the worst time for poor returns is when you begin taking substantial withdrawalsfrom your portfolio (e.g., retirement). Please note that your Financial Advisor may haveadjusted the poor return values and when they occur. These assumptions can be viewed onthe What If Worksheet.

Results Using Asset Class Sensitivity

Similar to the Results with Average Returns, the Results Using Asset Class Sensitivity uses anoverall average return. However, the results are calculated by using different returnassumptions for one or more asset classes during the years selected. These results showhow the analysis would be affected if the annual returns for one or more asset classes weredifferent than the average returns for a specified period.

Please note that the Recommended Scenario is the What If scenario selected by you to beshown on the Results page and in the Presentation, if provided.

Results Using Monte Carlo - Probability of Success

IMPORTANT: The projections or other information generated by this Financial GoalAnalysis regarding the likelihood of various investment outcomes are hypotheticalin nature, do not reflect actual investments results and are not guarantees offuture results.

Monte Carlo Results use Probability Simulations to show how variations in rates of returneach year can affect your results. A Probability Simulation calculates the results by runningthe plan many times, each time using a different sequence of returns. Some sequences ofreturns will give you better results, and some will give you worse results. These multipletrials provide a range of possible results, some successful (you would have met all yourgoals) and some unsuccessful (you would not have met all your goals). The percentage oftrials that were successful, given all the underlying assumptions, is shown as the Probabilityof Success. Analogously, the percentage of trials that were unsuccessful is shown as theProbability of Failure. The Results Using Monte Carlo indicates the likelihood that an eventmay occur as well as the likelihood that it may not occur.

Financial Goal Analysis uses a specialized methodology called Beyond Monte Carlo™. This isa statistical analysis technique based on Sensitivity Simulations, which re-runs the Plan 50 to100 times using small changes in the return. This allows a sensitivity of the results to becalculated, which, when analyzed with the mean return and standard deviation of theportfolio, allows the Probability of Success for your Plan to be directly calculated. A scenariois counted as unsuccessful if any of the goals is not fully funded. The percentage ofsuccessful scenarios is shown as the “Probability of Success.” The highest calculatedProbability of Success is 99%. Even a Probability of Success of 99% does not constitute aguarantee that your actual outcome will be as shown. This analysis is not a guarantee,prediction or projection and the results shown can change over time and with each use ifany of the underlying assumptions are changed.


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You should understand that the analysis presented is based on these asset class returnestimates, not the performance of specific securities or investments. Therefore, the analysisis not a guarantee of future results and your actual results may vary significantly from theresults shown in this analysis, as can the performance of any individual security orinvestment. Asset allocation does not assure profits or prevent against losses from aninvestment portfolio or accounts in a declining market.

Key Assumptions

Asset Class Rate of Return Assumptions

The returns used in this analysis are estimates of forward-looking average annual returns foreach asset class, as identified in this section. Each of your investment assets is classified inaccordance with these asset class returns, which are based on UBS' proprietary research.The total rate of return for the current and target portfolio is calculated by weightingindividual return assumptions for each asset class according to your portfolio allocation.Please note that your Financial Advisor may have adjusted the total portfolio return used inthis plan in order to present an alternative scenario for you to consider.

Return AssumptionAsset Class

Cash

US Cash 2.50%

International Cash 2.50%

Fixed Income

US Fixed Income 2.71%

US Fixed Income (Tax-Free) 2.86%

US Government Fixed Income 2.24%

US Corporate Investment Grade Fixed Income 3.46%

US Corporate High Yield Fixed Income 5.59%

US Preferred Fixed Income 5.52%

US Convertible Fixed Income 6.55%

Global Fixed Income 3.46%

International Fixed Income 3.96%

International Developed Markets Fixed Income 3.96%

Emerging Markets Fixed Income 4.86%

Equity

US Equity 7.59%

US Large Cap Equity 7.50%

US Mid Cap Equity 8.40%

US SMid Cap Equity 8.54%

US Small Cap Equity 8.64%

US Preferred Equity 5.52%

US Convertible Equity 6.55%

Global Equity 8.18%

International Equity 8.79%

International Developed Markets Equity 8.47%

Emerging Markets Equity 10.02%

Commodities 6.39%

Other Classes

Non-Traditional 5.44%

Hedge Funds 6.16%

Private Equity 11.83%

Private Real Estate 8.52%

Other 5.82%

Balanced 5.82%

Insured Solutions 4.83%

Annuities 4.83%

Insurance 4.02%

The asset class risk and return results shown are based on estimated forward-looking returnand risk assumptions, as measured by standard deviation ("capital market assumptions"),which are based on UBS proprietary research.


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Bear Market Loss

The Bear Market Loss illustrates how a portfolio may have been impacted during the worstbear market since the Great Depression. Depending on the composition of the portfolio, theworst bear market is either the "Great Recession" or the "Bond Bear Market."

The Great Recession, from November 2007 through February 2009, was the worst bearmarket for stocks since the Great Depression. In Financial Goal Analysis, the Great RecessionReturn, as explained below, is the rate of return, during this time period, for a portfoliocomprised of holdings that have been classified into four categories - cash, bonds, stocks,and other classes - with an asset mix or allocation equivalent to the portfolio used in theparticular illustration.

The Bond Bear Market, from July 1979 through February 1980, was the worst bear marketfor bonds since the Great Depression. In Financial Goal Analysis, the Bond Bear MarketReturn, as explained below, is the rate of return, for this time period, for a portfoliocomprised of holdings that have been classified as cash, bonds, stocks, and other classeswith an asset mix or allocation equivalent to the portfolio used in the particular illustration.

As a default methodology, Municipal Fixed Income investments are represented using theassumptions for US Fixed Income (not US Fixed Income (Tax-Free)) when calculating theportfolio return. To adjust for this, these Municipal Fixed Income investments (tax-freeassets) may have been adjusted to grow at the total portfolio rate of return minus a specificpercentage. Please see the Tax and Inflation Options page- Tax-free Earnings Options for theassumption used in your analysis.

Methodology for U.S. Fixed Income (Tax-Free)

The Bear Market Loss shows: 1) either the Great Recession Return or the Bond Bear MarketReturn, whichever is lower, and 2) the potential loss, if you had been invested in thiscash-bond-stock-other classes portfolio during the period with the lower return. In general,most portfolios with a stock allocation of 20% or more have a lower Great RecessionReturn, and most portfolios with a combined cash and bond asset allocation of 80% ormore have a lower Bond Bear Market Return.

The Bear Market Returns (Great Recession and Bond Bear Market) illustrate the hypothetical("simulated") impact of extreme market events on a portfolio. These illustrations are basedon the performance of historical indices and are not a guarantee of the minimum ormaximum level of losses or gains that you can incur or the performance of a specificportfolio. (For additional information see the section titled Additional Information:Methodology and Key Assumptions - Bear Market Test and Portfolio Probability Matrix). Allinvestments can carry the risk that you may lose your entire investment. Past performance isnot indicative or a guarantee of future returns. Actual performance may differ substantiallyfrom the simulated results. Indices are unmanaged and are not available for directinvestment.

Life Expectancy:

If a Retirement Living Expense Goal is entered, life expectancy factors are initially defaultedto estimates based on a 30% likelihood of living past a particular age, based on the Annuity2000 Mortality Tables.

Social Security:

Social Security benefits are initially estimated based on the current salary information youprovided and other factors. For a more accurate projection of your benefits, you should fileform SSA-7004-SM ("Request for earnings and Benefit Estimate Statement") with the SocialSecurity Administration or use the Social Security Retirement Estimator atwww.ssa.gov/estimator.

Additional Information

The Appendix contains additional information to help you understand your analysis, theresults, and a glossary of terms used in the report. Please read this Appendix carefully as itcontains important information about your report.

© 2002-2014 UBS Financial Services Inc. All Rights Reserved. Member SIPC. UBS FinancialServices Inc. is a subsidiary of UBS AG. Financial Goal Analysis is a service mark of UBSFinancial Services Inc.

Section 1 Executive Summary

Executive Summary

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The Executive Summary provides planning ideas for you to consider based on the assumptions and results in your Recommended Scenario ($1.7M Fd w/12yr SBL). Status dates, whereshown, are suggestions to help you prioritize the actions you may choose based on the time frames you have identified.

Plan Status



Net Worth

$6,277,598Assets

$400,000Liabilities

$5,877,598Net Worth

Results

The Recommended Scenario has a 76% likelihood of funding all of the financial goals in your plan.

Executive Summary

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Goals

Masonic Center of W-S is retired.

Your recommended scenario assumes current annual retirement expenses of $1.

In 2015 your recommended scenario assumes you withdraw $1 for your Construction Overrun goal.











In 2065 your recommended scenario assumes you withdraw $60,000 for your Light Fixtures 50yr goal.

In 2065 your recommended scenario assumes you withdraw $9,000 for your Toilet Fixtures 50yr goal.

In 2065 your recommended scenario assumes you withdraw $15,000 for your Plumbing/Piping 50yr goal.

In 2065 your recommended scenario assumes you withdraw $25,000 for your Masonry 50yr goal.

In 2055 your recommended scenario assumes you withdraw $50,000 for your Ceilings 40yr goal.

In 2055 your recommended scenario assumes you withdraw $25,000 for your Casework/Woodwork 40yr goal.

In 2015 your recommended scenario assumes you withdraw $38,618 per occurrence for your SBL Payoff (9yr) goal.


Executive Summary

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Other Suggestions Status

Next plan review meeting.

Net Worth Summary - All Resources

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This is your Net Worth Summary as of 10/29/2014. Your Net Worth is the difference between what you own (your Assets) and what youowe (your Liabilities). To get an accurate Net Worth statement, make certain you have entered all of your Assets and Liabilities.

+ $1,000,000Other Assets

Investment Assets $5,277,598

Total Liabilities $400,000

Net Worth $5,877,598

$6,277,598Total Assets

-

Description Total

Investment Assets

Taxable and/or Tax-Free Accounts $5,277,598

Total Investment Assets: $5,277,598

Other Assets

Business and Property $1,000,000

Total Other Assets: $1,000,000

Liabilities

Personal Real Estate Loan: $400,000

Total Liabilities: $400,000

Net Worth: $5,877,598

Section 2 Current Plan and Assumptions

Your Stated Goals

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Needs

Retirement - Living Expense10

Retired (2014-2080) $1Base Inflation Rate (2.50%)

Construction Overrun10

In 2015 $1No Inflation

HVAC Repair/Replace 20yr8

In 2035 $150,000Base Inflation Rate (2.50%)

Kitchen Equipment 40yr8


Parking Lot 20yr8




Your Stated Goals

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Parking Lot 40yr8


Parking Lot 60yr8


Roof Repair/Replace 25yr8


Roof Repair/Replace 50yr8


Flooring 40yr8


Your Stated Goals

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Light Fixtures 50yr8


Toilet Fixtures 50yr8


Plumbing/Piping 50yr8


Masonry 50yr8


Ceilings 40yr8


Casework/Woodwork 40yr8


Your Stated Goals

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SBL Payoff (9yr)8

In 2015Recurring every year for a total of 9 times

$1No Inflation

Wants





Flooring 20yr7


Technology 10yr7


Technology 20yr7


Your Stated Goals

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Technology 30yr7


Technology 40yr7


Technology 50yr7


Technology 60yr7


Painting 10yr7


Painting 20yr7


Your Stated Goals

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Painting 30yr7


Painting 40yr7


Painting 50yr7


Painting 60yr7


Furniture 20yr7


Furniture 40yr7


Your Stated Goals

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Furniture 60yr7


Personal Information

Masonic Center of W-S

Male - born 01/1990, age 24

Single, US Citizen living in NC

Retired

• This section lists the Personal and Financial Goal information you provided, which willbe used to create your Report. It is important that it is accurate and complete.

Current Financial Goals Graph

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This graph shows the annual costs for your Financial Goals, as you have specified. Because these costs will be used to create your Plan, it isimportant that they are accurate and complete. All amounts are in after-tax, future dollars.

Current Portfolio Allocation

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Total Equity58%

This page shows how your Investment Assets are currently allocated among the different Asset Classes. It includes only those Assets youhave identified to fund Goals in this Plan.

Projected Assumptions

Total Return 5.76%

Base Inflation Rate 2.50%

Real Return 3.26%

Standard Deviation 10.61%

Bear Market Returns

Great Recession November 2007 thru February 2009 -24%

Bond Bear Market July 1979 thru February 1980 7%

Asset Class Rate of ReturnValue % of Total

Investment Portfolio

10%$172,5072.50%US Cash

25%$431,0192.71%US Fixed Income

6%$107,9713.96%International Fixed Income

35%$608,3347.50%US Large Cap Equity

20%$343,5158.40%US Mid Cap Equity

1%$20,7248.64%US Small Cap Equity

1%$20,1168.47%International Developed Markets Equity

1%$12,5005.82%Other

Total : 100%$1,716,687

Tax-Free Rates of Return

2.86%US Fixed Income

Goal Assignment Summary

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Goal Category Description Value Annual Additions Future Value

Masonic Temple of WinstonSalem

Investment $1,716,687Fund All Goals

Tax and Inflation Assumptions

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Base Inflation Rate

Inflation rate : 2.50%

Social Security Inflation rate : 2.50%

Tax Assumption Inflation rate : 2.50%

Tax Rates During Retirement

Fixed Average Tax Rate : 0.00%

Use this fixed average tax rate each year

0.00%

Untaxed Gain on Taxable Earnings - During Retirement

What portion of your Annual Taxable InvestmentEarnings will not be taxed until withdrawn?

Long Term Capital Gains (LTCG) - During Retirement

What portion of your Taxable Investment Earningswill be taxed at the LTCG rate?

0.00%

Long Term Capital Gains rate : 0.00%

Taxation of Social Security

What portion of Social Security will be taxed? 85.00%

Tax Penalty

Include penalties in Plan? : No

Use one return for all Tax-Free Asset Classes, the Portfolio Return minus 0.00

Tax Free Earnings - Options

Risk Assessment

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Effective asset allocation has been shown to manage investment risk over the long-term. Asvarious asset classes tend to perform differently during the various stages of a market cycle,under-performance in one asset class may be offset by higher performance in another,resulting in more consistent long-term returns.

Different investments involve varying degrees of risk, which simply put, is the potential tolose money. The risks associated with investing involve many factors including economicchange and market fluctuation, which are beyond your control. One of the keys tolong-term investing is to understand how much short-term market fluctuation you cantolerate. This is important because if you are not willing to tolerate a certain level of marketfluctuation, you may not be able to hold on to your investments long enough to earn theirpotential long-term returns. An effective asset allocation strategy may help to increase yourportfolio's potential return while maintaining or even managing overall portfolio volatility.

Updated : 01/16/2014

Your investment profile is a categorization of your attitude toward investment risk and isbased on your answers, as summarized on this page, to certain questions regarding yourrisk tolerance and investment preferences. It is the basis for determining an appropriateasset allocation for you.

Please make sure that the information here is accurate and complete. If any of theinformation is inaccurate or becomes outdated because of changes in your circumstances,please contact your Financial Advisor.

Which of the following best characterizesyour tolerance for risk?

What is your primary investmentobjective?

Which of the following statements bestcharacterizes your risk/return objectives?

What is your expected time horizon forthis analysis?

Do you anticipate any need for cash in theshort term for the assets intended for thisanalysis?

What portion of your total investableassets do these funds represent?

Please indicate if you want your allocationto include non-traditional strategies.

Risk Profile Questionnaire Answers

Please indicate if you want your allocationto be an all fixed income or an all equityportfolio.

Moderate Risk / Moderate

Achieve capital appreciation (emphasis ongrowth of capital, not on income)

I prefer to sustain only moderate fluctuations inthe value of my assets to achieve moderatereturns.

Longer than 10 years (through several marketcycles)

No

More than 80%

Not Applicable

Exclude Non-Traditional allocation

Target Band

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The Risk-Based Portfolio was selected from this list of Portfolios, based upon the risk assessment. The Target Band is comprised of theportfolio(s) that could be appropriate for you, based upon the Risk-Based Portfolio indicated. The Target Portfolio was selected by you. TheAverage Real Return is equal to the Average Total Return minus the inflation rate of 2.50%. Refer to the Standard Deviation column in thechart below to compare the relative risk of your Current Portfolio to the Target Portfolio.

RiskBased

TargetBand

Name TotalEquity RealCurrent

Average Return

StandardDeviation

FixedIncome

Cash OtherClasses

Conservative 3.96%22% 1.46% 5.36%78%0% 0%

Moderately Conservative 4.80%35% 2.30% 7.49%65%0% 0%

Moderate 5.49%45% 2.99% 9.54%55%0% 0%

Current 5.76%58% 3.26% 10.61%31%10% 1%

(c) LT Growth and Inc 5.82%53% 3.32% 10.14%40%4% 3%

Moderately Aggressive 6.11%54% 3.61% 11.45%46%0% 0%

Aggressive 6.75%64% 4.25% 13.48%36%0% 0%

(c) This is a Custom Portfolio created only for your plan and the name is for identification purposes only.

Return vs. Risk Graph

This graph shows the relationship of return and risk for each Portfolio in the chart above.

When deciding how to invest your money, you must determine the amount of risk you arewilling to assume to pursue a desired return. The Return versus Risk Graph reflects a set ofportfolios that assume a low relative level of risk for each level of return, or conversely anoptimal return for the degree of investment risk taken. The graph also shows the position ofthe Current, Target, Risk-Based, and Custom Portfolios. The positioning of these portfoliosillustrates how their respective risks and returns compare to each other as well as theoptimized level of risk and return represented by the Portfolios.

Section 3 Results

Results - Current and Recommended

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Results Current Scenario Recommended Scenario

Average Return Bad Timing Average Return Bad Timing

100% 100% 100% 100%Estimated % of Goals Funded

Likelihood of Funding All Goals





Your Confidence Zone: 85% - 99%

Current Scenario $1.7M Fd w/12yr SBL Changes In Value

Retirement

Planning Age

90 in 208090 in 2080Masonic Center of W-S


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Goals

Needs

$1$110 Retirement - Living ExpenseRetired

$12015

$12015

10 Construction OverrunStarting

$150,0002035

$150,0002035

8 HVAC Repair/Replace 20yrStarting

$100,0002055

$100,0002055

8 Kitchen Equipment 40yrStarting

$100,0002035

$100,0002035

8 Parking Lot 20yrStarting

$150,0002055

$150,0002055


$150,0002075

$150,0002075


$100,0002055

$100,0002055


$100,0002075

$100,0002075


$120,0002040

$120,0002040

8 Roof Repair/Replace 25yrStarting

$120,0002065

$120,0002065

8 Roof Repair/Replace 50yrStarting

$40,0002055

$40,0002055

8 Flooring 40yrStarting

$60,0002065

$60,0002065

8 Light Fixtures 50yrStarting

$9,0002065

$9,0002065

8 Toilet Fixtures 50yrStarting

$15,0002065

$15,0002065

8 Plumbing/Piping 50yrStarting

$25,0002065

$25,0002065

8 Masonry 50yrStarting


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$50,0002055

$50,0002055

8 Ceilings 40yrStarting

$25,0002055

$25,0002055

8 Casework/Woodwork 40yrStarting

Increased $38,617

Increased 3

$38,6182015

112

$12015

19

8 SBL Payoff (9yr)StartingYears between occurrencesNumber of occurrences


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Wants

$50,0002035

$50,0002035


$50,0002075

$50,0002075


$40,0002035

$40,0002035

7 Flooring 20yrStarting

$10,0002025

$10,0002025

7 Technology 10yrStarting

$20,0002035

$20,0002035


$10,0002045

$10,0002045


$20,0002055

$20,0002055


$10,0002065

$10,0002065


$20,0002075

$20,0002075


$10,0002025

$10,0002025

7 Painting 10yrStarting

$10,0002035

$10,0002035


$10,0002045

$10,0002045


$10,0002055

$10,0002055


$10,0002065

$10,0002065


$10,0002075

$10,0002075


$30,0002035

$30,0002035

7 Furniture 20yrStarting

$30,0002055

$30,0002055



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$30,0002075

$30,0002075


Increased 27%$2,157,484$1,694,077Total Spending for Life of Plan

Savings

$0$0Total Savings This Year

Portfolios

5% less EquityLT Growth and IncCurrentAllocation

53%58%Percent Equity

5.82%5.76%Total Return

10.14%10.61%Standard Deviation

-21%-24%Great Recession Return 11/07 - 2/09

5%7%Bond Bear Market Return 7/79 - 2/80

2.50%2.50%Inflation

Investments

$1,716,687$1,716,687Total Investment Portfolio

$1,716,687$1,716,687Total Investment Assets

What If Worksheet

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This Worksheet allows you to analyze and compare the results of one or more scenarios that you created by varying the Plan assumptions.

Goals

Estimated % of Goal Funded

Current Scenario $1.7M Fd/9yr SBL


Needs

100% 100% 100% 100%10 Retirement

100% 100% 100% 100%10 Construction Overrun

100% 100% 100% 100%8 HVAC Repair/Replace 20yr

100% 100% 100% 100%8 Kitchen Equipment 40yr

100% 100% 100% 100%8 Parking Lot 20yr



100% 100% 100% 100%8 Parking Lot 40yr

100% 100% 100% 100%8 Parking Lot 60yr

100% 100% 100% 100%8 Roof Repair/Replace 25yr

100% 100% 100% 100%8 Roof Repair/Replace 50yr

100% 100% 100% 100%8 Flooring 40yr

100% 100% 100% 100%8 Light Fixtures 50yr

100% 100% 100% 100%8 Toilet Fixtures 50yr

100% 100% 100% 100%8 Plumbing/Piping 50yr

100% 100% 100% 100%8 Masonry 50yr

100% 100% 100% 100%8 Ceilings 40yr

100% 100% 100% 100%8 Casework/Woodwork 40yr

100% 100% 100% 100%8 SBL Payoff (9yr)

Indicates different data between the Scenario in the first column and the Scenario in any other column.

What If Worksheet

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Goals


Current Scenario $1.7M Fd/9yr SBL


Wants



100% 100% 100% 100%7 Flooring 20yr

100% 100% 100% 100%7 Technology 10yr

100% 100% 100% 100%7 Technology 20yr

100% 100% 100% 100%7 Technology 30yr

100% 100% 100% 100%7 Technology 40yr

100% 100% 100% 100%7 Technology 50yr

100% 100% 100% 100%7 Technology 60yr

100% 100% 100% 100%7 Painting 10yr

100% 100% 100% 100%7 Painting 20yr

100% 100% 100% 100%7 Painting 30yr

100% 100% 100% 100%7 Painting 40yr

100% 100% 100% 100%7 Painting 50yr

100% 100% 100% 100%7 Painting 60yr

100% 100% 100% 100%7 Furniture 20yr

100% 100% 100% 100%7 Furniture 40yr

100% 100% 100% 100%7 Furniture 60yr

$9,657

$50,508

Current dollars (in thousands) :

Future dollars (in thousands) :

$7,170

$37,497

Safety Margin (Value at End of Plan)

$9,511

$49,740

$6,156

$32,194Indicates different data between the Scenario in the first column and the Scenario in any other column.

What If Worksheet

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$50,508Future dollars (in thousands) : $37,497$49,740 $32,194





Your Confidence Zone: 85% - 99%

Likelihood of Funding All GoalsMonte Carlo Results

Total Spending : $1,694,077 $2,151,214

Key Assumptions Current Scenario $1.7M Fd/9yr SBL

Stress Tests

Method(s) Bad Timing Program Estimate Years of bad returns: 2014: -15.47% 2015: -4.85%

Bad Timing Program Estimate Years of bad returns: 2014: -14.47% 2015: -4.32%

False 0

Funding Order

Assets - Ignore Earmarks No No False 1

Retirement Income - Ignore Earmarks No No False 1

Hypothetical Average Rate of Return

After Retirement : Current LT Growth and Inc False 1

Total Return : 5.76% 5.82% False 1

Standard Deviation : 10.61% 10.14% False 1

Total Return Adjustment : 0.00% 0.00% False 1

Adjusted Real Return : 3.26% 3.32% False 1

Base inflation rate : 2.50% 2.50% False 1


What If Worksheet

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Goals

Living Expense True 1

Planning Age True 1

Masonic Center of W-S 90 90 False 1

Living expense : $1 $1 False 1

Construction Overrun True 1

Year : 2015 2015 False 1

Cost : $1 $1 False 1

HVAC Repair/Replace 20yr True 1

Year : 2035 2035 False 1

Cost : $150,000 $150,000 False 1

Kitchen Equipment 40yr True 1

Year : 2055 2055 False 1

Cost : $100,000 $100,000 False 1

Parking Lot 20yr True 1

Year : 2035 2035 False 1

Cost : $100,000 $100,000 False 1


Year : 2055 2055 False 1

Cost : $150,000 $150,000 False 1


Year : 2075 2075 False 1

Cost : $150,000 $150,000 False 1


Year : 2055 2055 False 1

Cost : $100,000 $100,000 False 1


Year : 2075 2075 False 1

Cost : $100,000 $100,000 False 1


What If Worksheet

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Goals

Roof Repair/Replace 25yr True 1

Year : 2040 2040 False 1

Cost : $120,000 $120,000 False 1

Roof Repair/Replace 50yr True 1

Year : 2065 2065 False 1

Cost : $120,000 $120,000 False 1

Flooring 40yr True 1

Year : 2055 2055 False 1

Cost : $40,000 $40,000 False 1

Light Fixtures 50yr True 1

Year : 2065 2065 False 1

Cost : $60,000 $60,000 False 1

Toilet Fixtures 50yr True 1

Year : 2065 2065 False 1

Cost : $9,000 $9,000 False 1

Plumbing/Piping 50yr True 1

Year : 2065 2065 False 1

Cost : $15,000 $15,000 False 1

Masonry 50yr True 1

Year : 2065 2065 False 1

Cost : $25,000 $25,000 False 1

Ceilings 40yr True 1

Year : 2055 2055 False 1

Cost : $50,000 $50,000 False 1

Casework/Woodwork 40yr True 1

Year : 2055 2055 False 1

Cost : $25,000 $25,000 False 1

SBL Payoff (9yr) True 1


What If Worksheet

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Goals

Year : 2015 2015 False 1

Cost : $1 $50,794 False 1

Is recurring : Yes Yes False 1

Years between occurrences : 1 1 False 1

Number of occurrences : 9 9 False 1


Year : 2035 2035 False 1

Cost : $50,000 $50,000 False 1


Year : 2075 2075 False 1

Cost : $50,000 $50,000 False 1

Flooring 20yr True 1

Year : 2035 2035 False 1

Cost : $40,000 $40,000 False 1

Technology 10yr True 1

Year : 2025 2025 False 1

Cost : $10,000 $10,000 False 1


Year : 2035 2035 False 1

Cost : $20,000 $20,000 False 1


Year : 2045 2045 False 1

Cost : $10,000 $10,000 False 1


Year : 2055 2055 False 1

Cost : $20,000 $20,000 False 1


Year : 2065 2065 False 1


What If Worksheet

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Goals

Cost : $10,000 $10,000 False 1


Year : 2075 2075 False 1

Cost : $20,000 $20,000 False 1

Painting 10yr True 1

Year : 2025 2025 False 1

Cost : $10,000 $10,000 False 1


Year : 2035 2035 False 1

Cost : $10,000 $10,000 False 1


Year : 2045 2045 False 1

Cost : $10,000 $10,000 False 1


Year : 2055 2055 False 1

Cost : $10,000 $10,000 False 1


Year : 2065 2065 False 1

Cost : $10,000 $10,000 False 1


Year : 2075 2075 False 1

Cost : $10,000 $10,000 False 1

Furniture 20yr True 1

Year : 2035 2035 False 1

Cost : $30,000 $30,000 False 1


Year : 2055 2055 False 1

Cost : $30,000 $30,000 False 1


What If Worksheet

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Goals


Year : 2075 2075 False 1

Cost : $30,000 $30,000 False 1

Retirement Income

Social Security True 1

Select Social Security Strategy At FRA At FRA False 1

Masonic Center of W-S True 1

Ineligible for benefits False 1

Tax Options

Include Tax Penalties : No No False 1

Change Tax Rate? No No False 1

Year To Change : False 1

Change Tax Rate by this % (+ or -) : 0.00% 0.00% False 1


Worksheet Detail - Inside the Numbers Final Result

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Simulation Equivalent to10,000 Trials

• The graph below shows the results for a Sample of 100 Monte Carlo Trials, but that is not enough Trials to determine your Probability of Success.• Your Probability of Success, as shown by the meter, uses a mathematical simulation, equivalent to 10,000 Trials, to calculate your Final Result.• Your Probability of Success represents the percentage of 10,000 Trials in which you could expect to attain all your Goals.

Final Result

(85% - 99%)

In the Sample of 100 Trials table, the trials are ranked from best to worst (from 1 to 100)based on the End of Plan value. For each trial listed (1st, 25th, 50th, 75th and 100th), thecorresponding portfolio values for that trial will be illustrated in the years of the trial thatare indicated.

The table below is a numerical representation of the above Sample of 100 trials. It isprovided for informational purposes to illustrate the general range of results you mightexpect. However, neither the graph nor the table reflects the Final Result, which is yourProbability of Success as shown by the meter to the right.

Trials Year 5 Year 10 Year 15 Year 20 Year 25 End of Plan Year Money Goes to $0

Best $2,692,329 $4,031,908 $7,125,902 $9,023,658 $14,360,646 $780,072,403

25th $2,429,938 $4,276,447 $4,399,721 $6,178,886 $10,586,682 $103,318,733

50th $2,198,679 $1,622,744 $2,362,166 $3,676,775 $5,033,705 $52,010,595

75th $1,739,025 $2,207,411 $2,406,501 $3,081,380 $4,317,599 $24,832,045

Worst $1,642,240 $1,389,858 $1,052,354 $1,155,468 $765,443 $0 2055

Inside the Numbers - Final Result For $1.7M Fd/9yr SBL

Worksheet Detail - Allocation Comparison

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Current Portfolio

These charts compare your Current Portfolio with the Target Portfolio you selected and show the allocation changes you should consider.

Target PortfolioLT Growth and Inc

Projected Assumptions

5.76% Total Return 5.82%

2.50% Base Inflation Rate 2.50%

3.26% Real Return 3.32%

10.61% Standard Deviation 10.14%

Bear Market Returns

-24% Great Recession -21%

7% Bond Bear Market 5%

Asset Class % of Total Target AmountCurrent Amount % of Total

Portfolio Comparison with Allocation Changes

Increase / Decrease

US Cash 4% $68,66710%$172,507 -$103,840

US Fixed Income 0% $025%$431,019 -$431,019

US Government Fixed Income 18% $309,0040%$0 $309,004

US Corporate Investment Grade Fixed Income 10% $171,6690%$0 $171,669

US Corporate High Yield Fixed Income 6% $103,0010%$0 $103,001

International Fixed Income 0% $06%$107,971 -$107,971

Emerging Markets Fixed Income 6% $103,0010%$0 $103,001

US Large Cap Equity 42% $721,00935%$608,334 $112,675

US Mid Cap Equity 0% $020%$343,515 -$343,515

US Small Cap Equity 0% $01%$20,724 -$20,724

International Developed Markets Equity 3% $51,5011%$20,116 $31,385

Emerging Markets Equity 5% $85,8340%$0 $85,834

Commodities 3% $51,5010%$0 $51,501

Private Real Estate 3% $51,5010%$0 $51,501

Other 0% $01%$12,500 -$12,500

Scenario: $1.7M Fd/9yr SBL

Worksheet Detail - Allocation Comparison

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Scenario: $1.7M Fd/9yr SBL

Asset Class % of Total Target AmountCurrent Amount % of Total

Portfolio Comparison with Allocation Changes

Increase / Decrease

$1,716,687 $1,716,687 $0

Worksheet Detail - Portfolio Probability Matrix

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Risk BasedPortfolio

During Retirement portfolio

Probability ofSuccess

Great RecessionReturn

Portfolio used in$1.7M Fd/9yr SBL Safety Margin

(Current Dollars)Bond Bear Market

Return

Results Bear Market Loss

1%78%Conservative $931,285 -4%

-8%81%Moderately Conservative $2,758,220 -1%

-14%77%Moderate $5,381,094 2%

-24%74%Current $6,812,978 7%

-21%76%LT Growth and Inc $7,169,620 5%

-20%72%Moderately Aggressive $9,118,954 4%

-27%67%Aggressive $15,069,873 6%

Portfolio Probability Matrix for $1.7M Fd/9yr SBL

Presentation - Retirement Distribution Cash Flow Chart

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Page 40 of 85


201424

201525

201626

201727

201828

201929

202030

202131

YearAge (Masonic Center of W-S)

Investment Earnings 99,911 103,478 107,253 111,248 115,475 119,948 124,681 129,690

Total Income and Earnings 99,911 103,478 107,253 111,248 115,475 119,948 124,681 129,690

Cash Used To Fund GoalsEstimated %Funded

Retirement - Living Expense 1100% 1 1 1 1 1 1 1

Construction Overrun 0100% 1 0 0 0 0 0 0

HVAC Repair/Replace 20yr 0100% 0 0 0 0 0 0 0

Kitchen Equipment 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 20yr 0100% 0 0 0 0 0 0 0



Parking Lot 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 0 0 0

Roof Repair/Replace 25yr 0100% 0 0 0 0 0 0 0


Flooring 40yr 0100% 0 0 0 0 0 0 0

Light Fixtures 50yr 0100% 0 0 0 0 0 0 0

Toilet Fixtures 50yr 0100% 0 0 0 0 0 0 0

Plumbing/Piping 50yr 0100% 0 0 0 0 0 0 0

Masonry 50yr 0100% 0 0 0 0 0 0 0

Ceilings 40yr 0100% 0 0 0 0 0 0 0

Casework/Woodwork 40yr 0100% 0 0 0 0 0 0 0

SBL Payoff (9yr) 0100% 38,618 38,618 38,618 38,618 38,618 38,618 38,618



Flooring 20yr 0100% 0 0 0 0 0 0 0

Technology 10yr 0100% 0 0 0 0 0 0 0

Technology 20yr 0100% 0 0 0 0 0 0 0

Scenario : $1.7M Fd w/12yr SBL using Average Returns


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201424

201525

201626

201727

201828

201929

202030

202131


Technology 30yr 0100% 0 0 0 0 0 0 0

Technology 40yr 0100% 0 0 0 0 0 0 0

Technology 50yr 0100% 0 0 0 0 0 0 0

Technology 60yr 0100% 0 0 0 0 0 0 0

Painting 10yr 0100% 0 0 0 0 0 0 0

Painting 20yr 0100% 0 0 0 0 0 0 0

Painting 30yr 0100% 0 0 0 0 0 0 0

Painting 40yr 0100% 0 0 0 0 0 0 0

Painting 50yr 0100% 0 0 0 0 0 0 0

Painting 60yr 0100% 0 0 0 0 0 0 0

Furniture 20yr 0100% 0 0 0 0 0 0 0

Furniture 40yr 0100% 0 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 0 0 0

Total Goal Funding (1) (38,620) (38,619) (38,619) (38,619) (38,619) (38,619) (38,619)

Total Taxes and Tax Penalty 0 0 0 0 0 0 0 0

Cash Surplus/Deficit (Net Changein Portfolio)

99,910 64,858 68,634 72,628 76,855 81,328 86,062 91,070

Portfolio Value

Future Dollars

Beginning Value 1,716,687 1,816,597 1,881,455 1,950,089 2,022,718 2,099,573 2,180,902 2,266,963

Cash Surplus/Deficit 99,910 64,858 68,634 72,628 76,855 81,328 86,062 91,070

Investment Asset Additions 0 0 0 0 0 0 0 0

Ending Value 1,816,597 1,881,455 1,950,089 2,022,718 2,099,573 2,180,902 2,266,963 2,358,034

Current Dollars

Ending Value 1,772,290 1,790,796 1,810,852 1,832,483 1,855,717 1,880,585 1,907,118 1,935,348




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201424

201525

201626

201727

201828

201929

202030

202131


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0

Federal Average Tax Rate 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Estimated Required MinimumDistribution (RMD)

Masonic Center of W-S 0 0 0 0 0 0 0 0

Adjusted Portfolio Value 1,716,687 1,816,597 1,881,455 1,950,089 2,022,718 2,099,573 2,180,902 2,266,963

Portfolio Withdrawal Rate 0.00% 2.13% 2.05% 1.98% 1.91% 1.84% 1.77% 1.70%



10/29/2014 12:00 PM


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202232

202333

202434

202535

202636

202737

202838

202939









Parking Lot 20yr 0100% 0 0 0 0 0 0 0



Parking Lot 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 0 0 0



Flooring 40yr 0100% 0 0 0 0 0 0 0




Masonry 50yr 0100% 0 0 0 0 0 0 0

Ceilings 40yr 0100% 0 0 0 0 0 0 0


SBL Payoff (9yr) 38,618100% 38,618 38,618 38,618 38,618 0 0 0



Flooring 20yr 0100% 0 0 0 0 0 0 0

Technology 10yr 0100% 0 0 13,121 0 0 0 0

Technology 20yr 0100% 0 0 0 0 0 0 0



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202232

202333

202434

202535

202636

202737

202838

202939


Technology 30yr 0100% 0 0 0 0 0 0 0

Technology 40yr 0100% 0 0 0 0 0 0 0

Technology 50yr 0100% 0 0 0 0 0 0 0

Technology 60yr 0100% 0 0 0 0 0 0 0

Painting 10yr 0100% 0 0 13,121 0 0 0 0

Painting 20yr 0100% 0 0 0 0 0 0 0

Painting 30yr 0100% 0 0 0 0 0 0 0

Painting 40yr 0100% 0 0 0 0 0 0 0

Painting 50yr 0100% 0 0 0 0 0 0 0

Painting 60yr 0100% 0 0 0 0 0 0 0

Furniture 20yr 0100% 0 0 0 0 0 0 0

Furniture 40yr 0100% 0 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 0 0 0

Total Goal Funding (38,619) (38,619) (38,619) (64,861) (38,619) (1) (1) (1)



96,371 101,979 107,915 86,426 119,225 167,030 176,751 187,038

Portfolio Value

Future Dollars

Beginning Value 2,358,034 2,454,405 2,556,384 2,664,299 2,750,725 2,869,950 3,036,980 3,213,730



Ending Value 2,454,405 2,556,384 2,664,299 2,750,725 2,869,950 3,036,980 3,213,730 3,400,768

Current Dollars

Ending Value 1,965,311 1,997,043 2,030,581 2,045,318 2,081,920 2,149,353 2,218,970 2,290,842




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202232

202333

202434

202535

202636

202737

202838

202939


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0








10/29/2014 12:00 PM


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203040

203141

203242

203343

203444

203545

203646

203747







HVAC Repair/Replace 20yr 0100% 0 0 0 0 251,937 0 0


Parking Lot 20yr 0100% 0 0 0 0 167,958 0 0



Parking Lot 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 0 0 0



Flooring 40yr 0100% 0 0 0 0 0 0 0




Masonry 50yr 0100% 0 0 0 0 0 0 0

Ceilings 40yr 0100% 0 0 0 0 0 0 0


SBL Payoff (9yr) 0100% 0 0 0 0 0 0 0

Kitchen Equipment 20yr 0100% 0 0 0 0 83,979 0 0


Flooring 20yr 0100% 0 0 0 0 67,183 0 0

Technology 10yr 0100% 0 0 0 0 0 0 0

Technology 20yr 0100% 0 0 0 0 33,592 0 0



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203040

203141

203242

203343

203444

203545

203646

203747


Technology 30yr 0100% 0 0 0 0 0 0 0

Technology 40yr 0100% 0 0 0 0 0 0 0

Technology 50yr 0100% 0 0 0 0 0 0 0

Technology 60yr 0100% 0 0 0 0 0 0 0

Painting 10yr 0100% 0 0 0 0 0 0 0

Painting 20yr 0100% 0 0 0 0 16,796 0 0

Painting 30yr 0100% 0 0 0 0 0 0 0

Painting 40yr 0100% 0 0 0 0 0 0 0

Painting 50yr 0100% 0 0 0 0 0 0 0

Painting 60yr 0100% 0 0 0 0 0 0 0

Furniture 20yr 0100% 0 0 0 0 50,387 0 0

Furniture 40yr 0100% 0 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 0 0 0

Total Goal Funding (1) (2) (2) (2) (2) (671,834) (2) (2)



197,923 209,442 221,632 234,531 248,180 (448,309) 236,533 250,299

Portfolio Value

Future Dollars

Beginning Value 3,400,768 3,598,691 3,808,133 4,029,765 4,264,296 4,512,476 4,064,167 4,300,700

Cash Surplus/Deficit 197,923 209,442 221,632 234,531 248,180 (448,309) 236,533 250,299


Ending Value 3,598,691 3,808,133 4,029,765 4,264,296 4,512,476 4,064,167 4,300,700 4,550,998

Current Dollars

Ending Value 2,365,042 2,441,645 2,520,730 2,602,376 2,686,666 2,360,731 2,437,195 2,516,135




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203040

203141

203242

203343

203444

203545

203646

203747


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0








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203848

203949

204050

204151

204252

204353

204454

204555









Parking Lot 20yr 0100% 0 0 0 0 0 0 0



Parking Lot 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 0 0 0

Roof Repair/Replace 25yr 0100% 0 228,035 0 0 0 0 0


Flooring 40yr 0100% 0 0 0 0 0 0 0




Masonry 50yr 0100% 0 0 0 0 0 0 0

Ceilings 40yr 0100% 0 0 0 0 0 0 0


SBL Payoff (9yr) 0100% 0 0 0 0 0 0 0



Flooring 20yr 0100% 0 0 0 0 0 0 0

Technology 10yr 0100% 0 0 0 0 0 0 0

Technology 20yr 0100% 0 0 0 0 0 0 0



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203848

203949

204050

204151

204252

204353

204454

204555


Technology 30yr 0100% 0 0 0 0 0 0 21,500

Technology 40yr 0100% 0 0 0 0 0 0 0

Technology 50yr 0100% 0 0 0 0 0 0 0

Technology 60yr 0100% 0 0 0 0 0 0 0

Painting 10yr 0100% 0 0 0 0 0 0 0

Painting 20yr 0100% 0 0 0 0 0 0 0

Painting 30yr 0100% 0 0 0 0 0 0 21,500

Painting 40yr 0100% 0 0 0 0 0 0 0

Painting 50yr 0100% 0 0 0 0 0 0 0

Painting 60yr 0100% 0 0 0 0 0 0 0

Furniture 20yr 0100% 0 0 0 0 0 0 0

Furniture 40yr 0100% 0 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 0 0 0

Total Goal Funding (2) (2) (228,037) (2) (2) (2) (2) (43,002)



264,866 280,281 55,287 299,811 317,260 335,725 355,264 330,437

Portfolio Value

Future Dollars

Beginning Value 4,550,998 4,815,865 5,096,146 5,151,433 5,451,244 5,768,505 6,104,229 6,459,493



Ending Value 4,815,865 5,096,146 5,151,433 5,451,244 5,768,505 6,104,229 6,459,493 6,789,931

Current Dollars

Ending Value 2,597,632 2,681,769 2,644,744 2,730,407 2,818,845 2,910,147 3,004,406 3,081,071




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203848

203949

204050

204151

204252

204353

204454

204555


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0








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204656

204757

204858

204959

205060

205161

205262

205363









Parking Lot 20yr 0100% 0 0 0 0 0 0 0



Parking Lot 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 0 0 0



Flooring 40yr 0100% 0 0 0 0 0 0 0




Masonry 50yr 0100% 0 0 0 0 0 0 0

Ceilings 40yr 0100% 0 0 0 0 0 0 0


SBL Payoff (9yr) 0100% 0 0 0 0 0 0 0



Flooring 20yr 0100% 0 0 0 0 0 0 0

Technology 10yr 0100% 0 0 0 0 0 0 0

Technology 20yr 0100% 0 0 0 0 0 0 0



10/29/2014 12:00 PM


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204656

204757

204858

204959

205060

205161

205262

205363


Technology 30yr 0100% 0 0 0 0 0 0 0

Technology 40yr 0100% 0 0 0 0 0 0 0

Technology 50yr 0100% 0 0 0 0 0 0 0

Technology 60yr 0100% 0 0 0 0 0 0 0

Painting 10yr 0100% 0 0 0 0 0 0 0

Painting 20yr 0100% 0 0 0 0 0 0 0

Painting 30yr 0100% 0 0 0 0 0 0 0

Painting 40yr 0100% 0 0 0 0 0 0 0

Painting 50yr 0100% 0 0 0 0 0 0 0

Painting 60yr 0100% 0 0 0 0 0 0 0

Furniture 20yr 0100% 0 0 0 0 0 0 0

Furniture 40yr 0100% 0 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 0 0 0

Total Goal Funding (2) (2) (2) (2) (2) (2) (3) (3)



395,172 418,171 442,508 468,262 495,515 524,354 554,871 587,164

Portfolio Value

Future Dollars

Beginning Value 6,789,931 7,185,102 7,603,273 8,045,781 8,514,043 9,009,558 9,533,911 10,088,782



Ending Value 7,185,102 7,603,273 8,045,781 8,514,043 9,009,558 9,533,911 10,088,782 10,675,947

Current Dollars

Ending Value 3,180,866 3,283,894 3,390,259 3,500,070 3,613,437 3,730,476 3,851,306 3,976,049




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204656

204757

204858

204959

205060

205161

205262

205363


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0








10/29/2014 12:00 PM


Page 55 of 85


205464

205565

205666

205767

205868

205969

206070

206171








Kitchen Equipment 40yr 0100% 275,219 0 0 0 0 0 0

Parking Lot 20yr 0100% 0 0 0 0 0 0 0

HVAC Repair/Replace 40yr 0100% 412,829 0 0 0 0 0 0


Parking Lot 40yr 0100% 275,219 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 0 0 0



Flooring 40yr 0100% 110,088 0 0 0 0 0 0




Masonry 50yr 0100% 0 0 0 0 0 0 0

Ceilings 40yr 0100% 137,610 0 0 0 0 0 0

Casework/Woodwork 40yr 0100% 68,805 0 0 0 0 0 0

SBL Payoff (9yr) 0100% 0 0 0 0 0 0 0



Flooring 20yr 0100% 0 0 0 0 0 0 0

Technology 10yr 0100% 0 0 0 0 0 0 0

Technology 20yr 0100% 0 0 0 0 0 0 0



10/29/2014 12:00 PM


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205464

205565

205666

205767

205868

205969

206070

206171


Technology 30yr 0100% 0 0 0 0 0 0 0

Technology 40yr 0100% 55,044 0 0 0 0 0 0

Technology 50yr 0100% 0 0 0 0 0 0 0

Technology 60yr 0100% 0 0 0 0 0 0 0

Painting 10yr 0100% 0 0 0 0 0 0 0

Painting 20yr 0100% 0 0 0 0 0 0 0

Painting 30yr 0100% 0 0 0 0 0 0 0

Painting 40yr 0100% 27,522 0 0 0 0 0 0

Painting 50yr 0100% 0 0 0 0 0 0 0

Painting 60yr 0100% 0 0 0 0 0 0 0

Furniture 20yr 0100% 0 0 0 0 0 0 0

Furniture 40yr 0100% 82,566 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 0 0 0

Total Goal Funding (3) (1,444,903) (3) (3) (3) (3) (3) (3)



621,337 (871,494) 606,778 642,092 679,462 719,007 760,853 805,134

Portfolio Value

Future Dollars

Beginning Value 10,675,947 11,297,284 10,425,790 11,032,568 11,674,660 12,354,122 13,073,129 13,833,982

Cash Surplus/Deficit 621,337 (871,494) 606,778 642,092 679,462 719,007 760,853 805,134


Ending Value 11,297,284 10,425,790 11,032,568 11,674,660 12,354,122 13,073,129 13,833,982 14,639,116

Current Dollars

Ending Value 4,104,834 3,695,784 3,815,491 3,939,074 4,066,661 4,198,380 4,334,365 4,474,756

Cash Surplus/Deficit 225,761 (308,931) 209,847 216,644 223,662 230,906 238,385 246,106



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205464

205565

205666

205767

205868

205969

206070

206171


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0








10/29/2014 12:00 PM


Page 58 of 85


206272

206373

206474

206575

206676

206777

206878

206979


Investment Earnings 851,996 901,582 954,054 958,525 1,014,311 1,073,343 1,135,812 1,201,916

Total Income and Earnings 851,996 901,582 954,054 958,525 1,014,311 1,073,343 1,135,812 1,201,916






Parking Lot 20yr 0100% 0 0 0 0 0 0 0



Parking Lot 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 0 0 0


Roof Repair/Replace 50yr 0100% 0 0 422,764 0 0 0 0

Flooring 40yr 0100% 0 0 0 0 0 0 0

Light Fixtures 50yr 0100% 0 0 211,382 0 0 0 0

Toilet Fixtures 50yr 0100% 0 0 31,707 0 0 0 0

Plumbing/Piping 50yr 0100% 0 0 52,846 0 0 0 0

Masonry 50yr 0100% 0 0 88,076 0 0 0 0

Ceilings 40yr 0100% 0 0 0 0 0 0 0


SBL Payoff (9yr) 0100% 0 0 0 0 0 0 0



Flooring 20yr 0100% 0 0 0 0 0 0 0

Technology 10yr 0100% 0 0 0 0 0 0 0

Technology 20yr 0100% 0 0 0 0 0 0 0



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206272

206373

206474

206575

206676

206777

206878

206979


Technology 30yr 0100% 0 0 0 0 0 0 0

Technology 40yr 0100% 0 0 0 0 0 0 0

Technology 50yr 0100% 0 0 35,230 0 0 0 0

Technology 60yr 0100% 0 0 0 0 0 0 0

Painting 10yr 0100% 0 0 0 0 0 0 0

Painting 20yr 0100% 0 0 0 0 0 0 0

Painting 30yr 0100% 0 0 0 0 0 0 0

Painting 40yr 0100% 0 0 0 0 0 0 0

Painting 50yr 0100% 0 0 35,230 0 0 0 0

Painting 60yr 0100% 0 0 0 0 0 0 0

Furniture 20yr 0100% 0 0 0 0 0 0 0

Furniture 40yr 0100% 0 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 0 0 0

Total Goal Funding (3) (3) (3) (877,240) (4) (4) (4) (4)



851,993 901,579 954,051 81,285 1,014,307 1,073,340 1,135,808 1,201,912

Portfolio Value

Future Dollars

Beginning Value 14,639,116 15,491,109 16,392,688 17,346,739 17,428,024 18,442,331 19,515,671 20,651,479

Cash Surplus/Deficit 851,993 901,579 954,051 81,285 1,014,307 1,073,340 1,135,808 1,201,912


Ending Value 15,491,109 16,392,688 17,346,739 17,428,024 18,442,331 19,515,671 20,651,479 21,853,391

Current Dollars

Ending Value 4,619,693 4,769,325 4,923,803 4,826,220 4,982,542 5,143,927 5,310,539 5,482,547




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206272

206373

206474

206575

206676

206777

206878

206979


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0








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207080

207181

207282

207383

207484

207585

207686

207787


Investment Earnings 1,271,867 1,345,890 1,424,220 1,507,109 1,594,823 1,593,152 1,685,874 1,783,991

Total Income and Earnings 1,271,867 1,345,890 1,424,220 1,507,109 1,594,823 1,593,152 1,685,874 1,783,991






Parking Lot 20yr 0100% 0 0 0 0 0 0 0


HVAC Repair/Replace 60yr 0100% 0 0 0 0 676,468 0 0

Parking Lot 40yr 0100% 0 0 0 0 0 0 0

Parking Lot 60yr 0100% 0 0 0 0 450,978 0 0



Flooring 40yr 0100% 0 0 0 0 0 0 0




Masonry 50yr 0100% 0 0 0 0 0 0 0

Ceilings 40yr 0100% 0 0 0 0 0 0 0


SBL Payoff (9yr) 0100% 0 0 0 0 0 0 0


Kitchen Equipment 60yr 0100% 0 0 0 0 225,489 0 0

Flooring 20yr 0100% 0 0 0 0 0 0 0

Technology 10yr 0100% 0 0 0 0 0 0 0

Technology 20yr 0100% 0 0 0 0 0 0 0



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207080

207181

207282

207383

207484

207585

207686

207787


Technology 30yr 0100% 0 0 0 0 0 0 0

Technology 40yr 0100% 0 0 0 0 0 0 0

Technology 50yr 0100% 0 0 0 0 0 0 0

Technology 60yr 0100% 0 0 0 0 90,196 0 0

Painting 10yr 0100% 0 0 0 0 0 0 0

Painting 20yr 0100% 0 0 0 0 0 0 0

Painting 30yr 0100% 0 0 0 0 0 0 0

Painting 40yr 0100% 0 0 0 0 0 0 0

Painting 50yr 0100% 0 0 0 0 0 0 0

Painting 60yr 0100% 0 0 0 0 45,098 0 0

Furniture 20yr 0100% 0 0 0 0 0 0 0

Furniture 40yr 0100% 0 0 0 0 0 0 0

Furniture 60yr 0100% 0 0 0 0 135,294 0 0

Total Goal Funding (4) (4) (4) (4) (4) (1,623,527) (5) (5)



1,271,863 1,345,885 1,424,216 1,507,105 1,594,819 (30,375) 1,685,869 1,783,986

Portfolio Value

Future Dollars

Beginning Value 21,853,391 23,125,254 24,471,140 25,895,356 27,402,461 28,997,279 28,966,905 30,652,774

Cash Surplus/Deficit 1,271,863 1,345,885 1,424,216 1,507,105 1,594,819 (30,375) 1,685,869 1,783,986


Ending Value 23,125,254 24,471,140 25,895,356 27,402,461 28,997,279 28,966,905 30,652,774 32,436,760

Current Dollars

Ending Value 5,660,127 5,843,459 6,032,729 6,228,130 6,429,859 6,266,462 6,469,434 6,678,979




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207080

207181

207282

207383

207484

207585

207686

207787


Taxes

Total Taxes 0 0 0 0 0 0 0 0

Tax Penalty 0 0 0 0 0 0 0 0








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Page 64 of 85


207888

207989

208090


Investment Earnings 1,887,819 1,997,690 2,113,955

Total Income and Earnings 1,887,819 1,997,690 2,113,955


Retirement - Living Expense 5100% 5 5

Construction Overrun 0100% 0 0

HVAC Repair/Replace 20yr 0100% 0 0

Kitchen Equipment 40yr 0100% 0 0

Parking Lot 20yr 0100% 0 0





Roof Repair/Replace 25yr 0100% 0 0

Roof Repair/Replace 50yr 0100% 0 0

Flooring 40yr 0100% 0 0

Light Fixtures 50yr 0100% 0 0

Toilet Fixtures 50yr 0100% 0 0

Plumbing/Piping 50yr 0100% 0 0

Masonry 50yr 0100% 0 0

Ceilings 40yr 0100% 0 0

Casework/Woodwork 40yr 0100% 0 0

SBL Payoff (9yr) 0100% 0 0



Flooring 20yr 0100% 0 0

Technology 10yr 0100% 0 0




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207888

207989

208090






Painting 10yr 0100% 0 0






Furniture 20yr 0100% 0 0



Total Goal Funding (5) (5) (5)

Total Taxes and Tax Penalty 0 0 0


1,887,814 1,997,685 2,113,950

Portfolio Value

Future Dollars

Beginning Value 32,436,760 34,324,575 36,322,260

Cash Surplus/Deficit 1,887,814 1,997,685 2,113,950

Investment Asset Additions 0 0 0

Ending Value 34,324,575 36,322,260 38,436,210

Current Dollars

Ending Value 6,895,312 7,118,652 7,349,226

Cash Surplus/Deficit 379,235 391,518 404,199



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207888

207989

208090


Taxes

Total Taxes 0 0 0

Tax Penalty 0 0 0

Federal Average Tax Rate 0.00% 0.00% 0.00%


Masonic Center of W-S 0 0 0

Adjusted Portfolio Value 32,436,760 34,324,575 36,322,260

Portfolio Withdrawal Rate 0.00% 0.00% 0.00%



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• When married, if either Social Security Program Estimate or Use This Amount and EvaluateAnnually is selected for a participant, the program will default to the greater of the selectedbenefit or the age adjusted spousal benefit based on the other participant's benefit.

• The Income section includes Retirement Income, Strategy Income, Stock Options, RestrictedStock, Other Assets, proceeds from Insurance Policies, and any remaining asset value after72(t) distributions have been completed.

• Retirement Income includes the following: Social Security, pension, annuity, rental property,royalty, alimony, part-time employment, trust, and any other retirement income as entered in thePlan.

• Additions and withdrawals occur at the beginning of the year.

• Income from Other Assets and proceeds from Insurance Policies are after-tax values. Anyremaining asset value after 72(t) distributions have been completed is a pre-tax value.

Notes

• Investment Earnings are calculated on all assets after any withdrawals for funding goals, taxeson withdrawals, and tax penalties, if applicable, are subtracted.

• Shortfalls that occur in a particular year are denoted with an 'x' in the Cash Used to Fund Goalssection of the chart.

• Strategy Income is based on the particulars of the Goal Strategies selected. Strategy Incomefrom immediate annuities, 72(t) distributions, and variable annuities with a guaranteed minimumwithdrawal benefit (GMWB) is pre-tax. Strategy Income from Net Unrealized Appreciation (NUA)is after-tax.

• Stock Options and Restricted Stock values are after-tax.

• Portfolio Withdrawal Rate (%) is the percentage withdrawn from the investment portfolio tocover cash deficits.

• The Total Taxes are a sum of (1) taxes on retirement income, (2) taxes on strategy income, (3)taxes on withdrawals from qualified assets for Required Minimum Distributions, (4) taxes onwithdrawals from taxable assets' untaxed gain used to fund Goals in that year, (5) taxes onwithdrawals from tax-deferred or qualified assets used to fund goals in that year, and (6) taxes onthe investment earnings of taxable assets. Tax rates used are detailed in the Tax and InflationOptions page. (Please note, the Total Taxes do not include any taxes owed from the exercise ofStock Options or the vesting of Restricted Stock.)

• Tax Penalties can occur when Qualified and Tax-Deferred Assets are used prior to age 59½. Ifthere is a value in this row, it illustrates that you are using your assets in this Plan in a mannerthat may incur tax penalties. Generally, it is better to avoid tax penalties whenever possible.

• The Cash Surplus/Deficit is the net change in the Portfolio Value for the specified year. Thisvalue is your income and earnings minus what was spent to fund goals minus taxes.

• The Ending Value of the Portfolio in Current Dollars is calculated by discounting the EndingValue of the Portfolio in Future Dollars by the Base Inflation Rate for this Plan.

• The Cash Surplus/Deficit in Current Dollars is calculated by discounting the Cash Surplus/Deficitin Future Dollars by the Base Inflation Rate for this Plan.

• These calculations do not incorporate penalties associated with use of 529 Plan withdrawals fornon-qualified expenses.

• When married, ownership of qualified assets is assumed to roll over to the surviving co-client atthe death of the original owner. It is also assumed the surviving co-client inherits all assets of theoriginal owner.

Presentation - Retirement Distribution Cash Flow Graphs

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This graph shows the ending portfolio value for each year, from retirement through the End of the Plan. Amounts are shown in futuredollars. The Ending Portfolio Values are estimates based on all the assumptions that you have included in this Plan.


Presentation - Retirement Distribution Cash Flow Graphs

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Page 69 of 85


This graph shows the cash surplus or cash deficit year-by-year, from retirement through the End of the Plan. Amounts are shown in futuredollars.

• The Annual Cash Surplus/Deficit Graph illustrates the change in Ending Portfolio Values fromone year to the next. If there is a surplus, the estimated Ending Portfolio Value is greater than theValue in the past year. If there is a deficit, the estimated Ending Portfolio Value is less than theValue in past year. If there is no bar graph shown, it indicates that the Ending Portfolio Value iszero, which means that the entire portfolio has been spent.

Notes


Presentation - Cash Used to Fund Goals

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Page 70 of 85


This graph shows the amounts available to fund each Goal from retirement through the End of the Plan. In each year, the amount availableincludes the portfolio principal, retirement income, investment earnings, and any lump-sum additions to the portfolio. All amounts are inafter-tax, future dollars.

• The value shown for each goal is the amount available to fund the goal, based on all theassumptions that you have included in this Plan. In any year, this value can be less than theamount you specified for the goal expense. This graph does not indicate whether or not youhave a goal shortfall in any year. Rather, it shows the amount of the goal expense that wasfunded, assuming that you execute all aspects of the Plan as you have indicated. Goals arefunded in the order specified in the Plan.

Notes


Section 4 Insurance Analysis

Resources Summary

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Page 71 of 85


Description Owner Current Value Additions Assign to Goal

Investment Assets

Masonic Center of W-SMasonic Temple of Winston Salem $3,560,911 Not Used In Plan

$103,549CASH

$499,707FIDELITY ADVISOR STRATEGICINCOME FUND

$495,735GOLDMAN SACHS STRATEGICINCOME CL I

$371,481HARTFORD FLOATING RATE HIGHINCOME FUND I

$384,411JANUS FLEXIBLE BOND FUND CLASSI

$434,609LORD ABBETT SHORT DURATIONINCOME FUND

$451,832RIDGEWORTH U.S. GOVERNMENTSECURITIES

$377,549THOMPSON BOND FUND

$442,038USAA SHORT TERM BOND FUNDCLASS RET

Masonic Center of W-SMasonic Temple of Winston Salem $1,716,687 Fund All Goals

$26,722AETNA INC

$26,198AFLAC INC

$27,716AIRGAS INC

$69,375ALPS ETF TR ALERIAN MLP

$36,625AMGEN INC

$32,129APPLE INC

$26,262AT&T INC

$25,667BAXTER INTL INC

$31,521BOEING COMPANY

$97,566CASH

$29,829CLOROX CO

$27,888DARDEN RESTAURANTS INC

$24,758DOW CHEMICAL

$30,916DUKE ENERGY CORP NEW

Resources Summary

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Description Owner Current Value Additions Assign to Goal

Investment Assets

$20,116ENSCO PLC CL A

$29,440GENUINE PARTS CO

$155,228GOLDMAN SACHS STRATEGICINCOME CL I

$21,271HELMERICH & PAYNE INC

$28,717INTL PAPER CO

$158,271ISHARES CORE U.S. AGGREGATEBOND ETF

$27,917LAS VEGAS SANDS CORP

$155,649LORD ABBETT SHORT DURATIONINCOME FUND

$30,916MICROSOFT CORP

$27,558NEXTERA ENERGY INC COM

$29,122NORTHEAST UTILITIES

$23,974OCCIDENTAL PETROLEUM CRP

$157,284PIMCO INCOME FUND CLASS P

$27,298PRICE T ROWE GROUP INC

$27,946PRUDENTIAL FINANCIAL INC

$25,804QUALCOMM INC

$27,536SMUCKER J M CO NEW

$28,325STANLEY BLACK & DECKER INCCOM

$100,428TRANSPARENT VALUE DIRECTIONALALLOCATION

$20,724TUPPERWARE BRANDS CORP

$53,013VANGUARD REIT ETF

$26,978VERIZON COMMUNICATIONS INC

$5,277,598Total Investment Assets :

Resources Summary

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Description Owner Current Value Future Value Assign to Goal

Other Assets

Masonic Center of WS Land Masonic Center of W-S $1,000,000 Not Funding Goals

$1,000,000Total of Other Assets :

Social Security

Description Value Assign to GoalOwner File Status

Social Security Masonic Center of W-S Ineligible for benefits Fund All Goals

Type Outstanding Balance Monthly PaymentDescription Interest RateOwner

Liabilities

Equity Line Security Backed LOC $400,000 $8342.500%Masonic Center of W-S

$400,000Total Outstanding Balance :

Section 5 Appendix

Additional Important Information

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Page 74 of 85

Understanding Your Report

The analysis in the report consists of various sections, some of which are described below.Note that not every section identified below may be contained in your financial plan. If thereis an area of your personal finances that is not addressed in this report, please ask yourFinancial Advisor for additional available analyses. In addition, you should also understandthat a financial plan does not address every aspect of a client’s financial life (e.g., areas notcovered include analysis of property and casualty, homeowners, medical and excess liabilitycoverage, etc.). Please consult with your Financial Advisor regarding the specific topicsincluded in your financial plan.

Your Current Plan and Assumptions provides a goal summary, net worth summary, a riskassessment, and the Target Band, which illustrates the Target Portfolio based on youranswers to questions regarding your risk tolerance and investment objectives.

The Appendix contains your What If Worksheet, in which the details of your financial planare illustrated under several scenarios. Your What If Worksheet shows your CurrentScenario, and then illustrates one or more possible changes in your financial strategy and isbased upon the information you have provided.

Your Financial Goal Analysis may include assets held in a number of your existing accounts,each with a potentially different investment objective and risk parameter. The assets in theseaccounts have been considered together, as a whole, in developing a financial plan andhave either been earmarked to specific goals or to fund all goals. When consideringwhether to implement any of the ideas in this report, you should carefully review the impactof any changes on each account and on the overall portfolio.

If you provided information regarding assets that you hold at other financial institutions, wehave included those assets in this analysis. We have not verified, and are not responsible for,the accuracy or completeness of such information. UBS does not provide advice with respectto your assets at other firms and specifically disclaims any liability for any activity conductedby you in accounts at other firms.

In the Results section, your Current Scenario and one What If Scenario are illustrated, basedon information you provided. On the Allocation Comparison, the allocation of the TargetPortfolio is compared to that of your Current Portfolio and the risk and return assumptionsused to analyze each allocation are presented. This section may also contain additionalWorksheet Detail illustrations.

The Executive Summary Status (if utilized) may provide a time frame to help you prioritizethe actions you choose to take. The results of the Recommended Scenario are not adjustedbased on the status identified.

Over time, your financial circumstances or the other assumptions and estimates thatunderlie this analysis may change. For this reason, you should periodically meet with yourFinancial Advisor to re-evaluate your financial situation, including your asset allocationstrategy. If material changes have occurred in your personal or financial circumstances (e.g.,the birth of a child, retirement, inheritance, etc.) your Financial Advisor is available to workwith you to develop a new financial plan.

Your UBS account statements are the only official record of your holdings at UBS and arenot replaced, amended or superseded by any of the information presented in this analysis.

This analysis does not constitute the solicitation to purchase or sell any specific security. Anydecisions to buy or sell securities or participate in one or more investment programs shouldbe made by you after careful review and in the context of your overall investment strategyand portfolio.


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Additional Information: Methodology and Key Assumptions

Results Using Monte Carlo - Probability of Success

IMPORTANT: The projections or other information generated by this Financial GoalAnalysis regarding the likelihood of various investment outcomes are hypotheticalin nature, do not reflect actual investments results and are not guarantees offuture results.

Please note that this probabilistic analysis does not take into account actual marketconditions that may severely affect your portfolio results over the long-term. This analysisneither evaluates the future performance of specific securities nor presents the results thatcould occur from an extreme market event, either positive or negative, due to the lowprobability of such an occurrence. You should understand that there may be asset classesnot presented that have characteristics similar or superior to those analyzed in this analysis.

Portfolio Return Adjustment

Your plan may contain a Portfolio Return Adjustment exhibit to illustrate the potentialimpact on your Probability of Success, Average Return and Bad Timing results when theestimated total portfolio return is decreased by 1% and increased by 1%. These illustrationsare provided for informational purposes only, and are not a guarantee of the range ofreturns your portfolio may experience or the minimum or maximum level of losses or gainsthat you can incur.

Bear Market Test and Portfolio Probability Matrix

The Bear Market Test, if included in the Stress Tests, examines the impact on your planresults if an identical Great Recession or Bond Bear Market, whichever would be worse,occurred this year. The methodology applies the Bear Market Loss to the current portfoliovalue and then runs the plan results. The Bear Market Test illustrates the likelihood that youcould fund your Needs, Wants, and Wishes after experiencing such an event. For moreinformation on how the Bear Market loss is calculated, please see the section at the front ofthe plan titled Bear Market Loss.

Although all other results in this report use projected returns, as described in the section atthe front of the report titled 'Asset Class Rate of Return Assumptions', the Bear Market Lossand Bear Market Test first group each asset class into one of four broad asset classcategories – Cash, Fixed Income/Bonds, Equity/Stocks, and Other Classes and then usereturns calculated from historical indices for each of these four categories. The asset classesunder each category are listed in the section titled 'Asset Class Rate of Return Assumptions'found at the beginning of this report in Understanding Your Results. The indices and therespective returns for the Great Recession and the Bond Bear Market are listed in thefollowing chart.

The Ibbotson U.S. 30 Day TreasuryBill Index is an unweighted index which measures the performance of one-month maturityU.S. Treasury Bills. Each month a one-bill portfolio containing the shortest-term bill havingnot less than one month to maturity is constructed. To measure holding period returns forthe one-bill portfolio, the bill is priced as of the last trading day of the previous month-endand as of the last trading day of the current month.

Ibbotson U.S. 30-day Treasury Bills - Total Return:

The Ibbotson U.S.Intermediate-Term Government Bond Index is an unweighted index which measures theperformance of five-year maturity U.S. Treasury Bonds. Each year a one-bond portfoliocontaining the shortest noncallable bond having a maturity of not less than five years isconstructed. Bonds with impaired negotiability or special redemption privileges are omitted,as are partially or fully tax-exempt bonds starting in 1943. To measure holding periodreturns for the one-bond portfolio, the bond is priced (with accrued coupons) over theholding period and total returns are calculated.

Ibbotson Intermediate-Term Government Bonds- Total Return:

The Standard & Poor’s 500, is a stock market index based on themarket cap of 500 large companies listed on the NASDAQ or NYSE. The S&P 500components and their weightings are determined by the S&P Dow Jones Indices.

S&P 500 - Total Return:

HFRI FOF: Diversified: Hedge Fund Research Index Fund Of Funds classified as 'Diversified'exhibit one or more of the following characteristics: invests in a variety of strategies amongmultiple managers; historical annual return and/or a standard deviation generally similar tothe HFRI Fund of Fund Composite index; demonstrates generally close performance andreturns distribution correlation to the HFRI Fund of Fund Composite Index.

Asset Class Index Great RecessionReturn

11/2007 – 02/2009

Bond Bear MarketReturn

07/1979 – 02/1980

Cash Ibbotson U.S. 30-dayTreasury Bills

2.31% 7.08%

Bond Ibbotson Intermediate-TermGovernment Bonds – TotalReturn

15.61% -8.89%

Stock S&P 500 - Total Return -50.95% 14.61%

OtherClasses

HFRI FOF: DiversifiedS&P GSCI Commodity - TotalReturn

-19.87%N/A

N/A23.21%


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The S&P GSCI is calculated primarily on a worldproduction weighted basis and consists of the principal physical commodities that are thesubject of active, liquid futures markets. The weight of each commodity in the index isdetermined by the average quantity of production as per the last five years of available data.The production weights are designed to reflect the relative significance of each of theconstituent commodities in the world economy while preserving the tradability of the index.

S&P GSCI Commodity - Total Return:

The principal asset classes presented in this analysis can be found at the beginning of thereport in the section "Asset Class Rate of Return Assumptions". The asset class risk andreturn results shown are based on estimated forward-looking return and risk assumptions,as measured by standard deviation, ("capital market assumptions"), which are based onUBS proprietary research. The development process includes a review of a variety of factors,including the return, risk, correlations and historical performance of various asset classes,inflation and risk premium.

Return and Risk Assumptions: Asset Classification

Each of your investment assets is classified in accordance with these asset class assumptions.Assets held at UBS are classified pursuant to a proprietary UBS asset classificationmethodology. If you provided information regarding assets held at other financialinstitutions, the classification of these assets is estimated based upon information youprovided. Your Financial Advisor can provide you with more specific information on howyour particular assets are classified. Please note that most Mutual Funds are classified by thefund’s style of investing (i.e., the funds reported holdings are not analyzed but, rather, thefund category is used in this analysis). Balanced or Global funds may be broken out into theasset classes of the mutual fund’s reported holdings. Asset allocation neither assures a profitnor protects against loss in declining markets.

The total rate of return of the current and target portfolio is calculated by weighting theindividual return assumptions for each asset class according to your portfolio allocation. Therisk of the current and target portfolio is calculated by weighting the individual riskassumptions for each asset class according to your portfolio allocation and theircorresponding correlations to each other. Your actual results may vary significantly from theresults shown in this report, as can the performance of any individual security or investment.

This analysis generally reflects the reinvestment of income, taxes, and inflation, but does notinclude the impact of transaction costs. If these were included, the results shown would belower. Also, all goal expenses are illustrated at an after-tax value. Note, the analysis mayreflect up to two reallocations to the target portfolio, in the current year and possibly atretirement (i.e., rebalancing to the target is not done on a systematic basis) and does notreflect the impact of taxes or transaction costs associated with such reallocation.

These capital market assumptions do not assume any particular investment time horizon.The process assumes a situation where the supply and demand for investments is in balanceand in which expected returns of all asset classes are a reflection of their expected risk andcorrelations regardless of timeframe. Please note that these assumptions are not guaranteesand are subject to change. UBS has changed its risk and return assumptions in the past andmay do so in the future. Neither UBS nor your Financial Advisor is required to provide youwith an updated analysis based upon changes to these or any other underlyingassumptions.

Simulated results have inherent limitations. There are frequently significant differencesbetween hypothetical examples and actual performance results subsequently achieved byany particular trading program because they do not reflect the return of specific securities,actual trading during the period described and do not reflect the impact of economic,market and other factors. Simulated performance data is reported on a gross of fees basis,but net of administrative costs. Additional fees, such as the advisory fees, tradingcommissions would reduce the return.

If included in your plan, the Portfolio Probability Matrix includes the firm's strategic assetallocation models and can also include additional custom portfolios. It illustrates theProbability of Success result if each of these portfolios was used in a What If Scenario duringthe time frame indicated (Before Retirement, During Retirement, or Both Before and DuringRetirement). It also illustrates the Safety Margin, or estimated value of your assets at the endof this analysis, based on an Average Return result and in Current Dollars. This illustrationalso shows the Great Recession and Bond Bear Market returns for each of the portfolios,using the return methodology described above. Note that the Portfolio Probability Matrix isfor purposes of illustrating the impact of each portfolio on plan results. It also illustrates anexample of hypothetical returns (the Great Recession Return and Bond Bear Market Return),which are not used in calculating the Probability of Success or Safety Margin resultsdisplayed on the page.

Special Assets

Your plan may contain a Special Assets stress test. This illustrates the potential impact onyour Probability of Success if you were to experience Low, Expected or High values forcertain assets. These include growth rates for stocks illustrated in the stock option analysis,sale values for non-investment assets such as properties, or annual withdrawal benefits forannuities with Guaranteed Minimum Withdrawal benefits. This stress test can help illustratefinancial risk not otherwise reflected in the plan results and is based on informationprovided by you. These illustrations are not a guarantee of the minimum or maximum levelof losses or gains that you can incur.


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Asset Allocation

This refers to how your investments are diversified across different asset classes, such asequities, fixed income, and cash. The principal asset classes presented in this analysis can befound in the section "Asset Class Rate of Return Assumptions". The Target Portfolio fallswithin the limits of your risk tolerance, based on your answers to the risk assessment (riskprofile questionnaire). Either a UBS Strategic Asset Allocation Model or a customized assetallocation is presented. The asset allocation you selected may be more conservative thanyour investment risk profile. This approach may impact your ability to reach your financialgoals. Please discuss with your Financial Advisor. UBS uses a proprietary process to arrive atits strategic asset allocations. UBS has changed its asset allocation models in the past andmay do so in the future as circumstances warrant. Neither UBS nor your Financial Advisor isrequired to provide you with an updated analysis based upon changes to UBS strategic orrecommended portfolio asset allocations. In addition, UBS has a variety of analyses andservices that provide portfolio review, including analysis of asset allocation strategies. Therecommendations and types of analysis may vary depending on the asset allocation andanalysis used. Asset allocation does not assure you profits or prevent against losses from aninvestment portfolio or account in a declining market.

Additional Assumptions

Education Expenses

If you choose, FGA will allow you to select specific undergraduate and graduate school costinformation, which is derived from Peterson's database. Peterson's, a Nelnet Company. AllRights reserved. Alternatively, you can choose to use Average cost calculations for privateand public in-state and out-of-state colleges, which are derived from the College Board’s“Trends in College Pricing.”

Estate Analysis

The estate analysis sections of the report, if provided, are not based upon a legal review ofyour estate planning documents. Rather, various illustrations are provided based uponinformation provided by you. As such, these illustrations should be considered a suggestionas to the alternatives you may wish to consider, and not a specific course of action. Toobtain a complete depiction of your estate situation, including tax issues, please consultwith your legal advisor.

If an estate analysis is provided, we made certain general assumptions regarding your assetsand estate in order to provide the illustrations. A summary of the assumptions used toprepare this section of the analysis can be found in the "Estate Analysis Introduction" page.

Insurance Analysis

The insurance sections of the plan, if provided, are not based upon a review of yourinsurance policies. Rather, various illustrations are provided based upon informationprovided by you. As such, these illustrations should be considered a suggestion as to thealternatives you may wish to consider, and not a specific course of action. To obtain acomplete depiction of your insurance needs, please consult with your Financial Advisor orinsurance professional.

Annuities

The specific features of annuities are not considered in the plan. If you have requested thatthe income or death benefit feature of an annuity be considered, please note that theanalysis is illustrative only, and that all payments are dependent on the claims-paying abilityof the issuing insurance company. Information included in the report relating to currentvalue of an annuity is obtained from the issuer and UBS Financial Services Inc. does notguarantee the accuracy of the information. In addition, it is not a solicitation orrecommendation that you purchase an annuity and you should not rely on the informationpresented when making an investment decision. Variable annuities are sold by prospectusonly, which contain additional information including risk factors, fees and other costs thatmay apply. Please read the prospectus carefully before investing. Annuity products areissued by unaffiliated third-party insurance companies and made available though insuranceagency subsidiaries of UBS Financial Services Inc.

Certain long-term care insurance policies may have provisions containing exclusions,limitations, reductions of benefits and/or terms under which the insurance may becontinued in force or discounted. For costs and complete details of the coverage contactyour Financial Advisor.

The long-term care average of annual costs used in this report for nursing home, assistedliving, and home health care is from 2011 MetLife studies (the 2011 MetLife Market Surveyof Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs, October 2011).

Please note that if you requested that the premium of a long-term care policy be illustratedas a goal on the "What If Worksheet page", a general estimate of the premium is includedin the analysis. This estimate is illustrative only, and does not reflect the actual premium thatwould be required to purchase a long-term care policy. In addition, it is not a solicitation orrecommendation that you purchase a long-term care policy and you should not rely on theinformation presented when making an investment decision. Insurance products are issuedby unaffiliated third-party insurance companies and made available through insuranceagency subsidiaries of UBS Financial Services Inc.


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Mortgage

All mortgage products available through UBS Financial Services Inc. are only offered by UBSMortgage. UBS Mortgage is a trade name for UBS AG, Tampa Branch or, in certain statesfor certain products, UBS Bank USA. All loans are subject to underwriting, credit andproperty approval. Not all products are available in all states, or for all loan amounts. Otherrestrictions and limitations may apply. UBS Mortgage currently offers residential mortgageloans within the 50 states of the United States of America and the District of Columbia.

Securities Backed Lending

Borrowing using securities as collateral entails risk and may not be appropriate for yourneeds. You should consult your legal and tax advisors regarding the legal and taximplications of borrowing using securities as collateral for a loan.

Attorney Network

Attorneys in the attorney network are independent of and unaffiliated with UBS FinancialServices Inc. These attorneys may refer clients to UBS Financial Services Inc., but receive nocompensation from us for these referrals.

Equal Opportunity Lender. Equal Housing Lender.

American Tax Payer Relief Act of 2012

The tax calculation used in this analysis assumes that the current provisions of the AmericanTax Payer Relief Act of 2012 are in effect for the entire plan period.

Taxes

This analysis does not consider your specific tax objectives and any discussion of tax issuescontained in this analysis is general in nature. As applicable, current U.S. tax law conceptsare used in this analysis. However you should understand that UBS is not, and does not,hold itself out to be an advisor as to legal or taxation matters in any jurisdiction and nothingcontained in this financial plan should be construed as tax advice. Neither UBS nor any of itsemployees provide tax or legal advice and we recommend that you evaluate Your FinancialGoal Analysis report with your legal and/or tax advisor before taking any action because ofthe significance and complexity of the tax considerations.

A marginal tax rate is the rate at which any additional dollar of income is taxed (i.e., thehighest tax bracket that is used to tax someone's income). Prior to retirement, the analysiscalculates a default federal and state marginal tax rate, based on the clients’ marital status,current state of residence and non investment income. The marginal tax rate can bechanged from the default. To see the Before Retirement Marginal Tax Rates used in youranalysis, please refer to the Tax and Inflation Options section of the report. The analysis usesthe marginal tax rates prior to retirement because it is calculating taxes only on investmentearnings, which are appropriately taxed at the marginal rate. Also, additional taxes could bepaid if there are goal expenses requiring additional withdrawals in any year. Prior toretirement, the analysis defaults the percentage of taxable investment gains taxed asLong-term Capital Gains (LTCG) to 20%. Analogously, 80% is taxed as ordinary income.The default for the LTCG rate, before retirement, is based on the clients’ marginal tax rate.

In the tax calculations, “Retirement” for a couple is when they are both retired. The defaultfor tax calculations during retirement is “Program calculates taxes each year.” The toolcalculates progressive federal and state taxes, including the appropriate LTCG rate, in eachyear. The tool also, by default, uses standard deductions (based upon the clients’ maritalstatus and ages), because it cannot estimate a client’s actual estimated deductions over thistime period. You also have the option of using a fixed average tax rate each year. As in thepre-retirement period, the tool defaults the portion of the taxable investment gains taxed asLTCG to 20%.

Both alternative minimum tax and the 3.8% Medicare tax on investment income for highincome taxpayers are not included in the tax calculation.

These assumptions can be changed so please refer to the Tax and Inflation Options sectionto review which option was used to run your financial plan.

This material is not intended to be used, and cannot be used or relied upon by any taxpayerfor the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting,marketing or recommending to another party any transaction or tax-related matter(s).

Asset Class is a term that broadly defines a category of securities that share commoninvestment characteristics. Typical broad asset classes include cash and cash alternatives,fixed income and equities. Some of the asset classes used in this report and the associatedrisks are provided below.

Asset Class


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Fixed Income represents debt issued by private corporations, governmentsor Federal agencies. Two main risks related to fixed income investing are interest rate riskand credit risk. Typically, when interest rates rise, there is a corresponding decline in themarket value of bonds. Credit risk refers to the possibility that the issuer of the bond willnot be able to make principal and interest payments. High yield investments are highyielding securities but may also carry more risk. A bond fund’s yield and value of its portfoliofluctuate and can be affected by changes in interest rates, general market conditions andother political, social and economic developments.

Fixed Income:

There are special risks associated with an investment in preferredsecurities, including credit risk, interest rate fluctuations, US Government sponsoredsecurities risk, sector concentration risk and real estate securities risk.

Preferred Securities:

Equities represent ownership interest in a corporation. The value of investments inequity securities will fluctuate in response to general economic conditions and to changes inthe prospects of particular companies and/or sectors in the economy. This report classifiesU.S. equities based on the market capitalization (market value) of the company. Theseclassifications are Large, Mid, SMID (small-mid) and Small cap. Investments in smallercompany stocks may be subject to a higher degree of risk than more established companies'securities, including higher volatility.

Equities:

Cash typically includes money market securities or three-month T-Bills. Thesesecurities have short maturity dates and they typically provide a stable investment value andcurrent interest income. These investments may be subject to credit risks and inflation risks.Treasuries also carry liquidity risks for sales prior to maturity. Investments in money marketfunds are neither insured nor guaranteed by the U.S. government and there can be noassurance that the funds will be able to maintain a stable net asset value at $1.00 per shareor unit.

Cash:

Investing in emerging market securities can pose some risks differentfrom, and greater than, risks of investing in U.S. or developed markets securities. These risksinclude: a risk of loss due to political instability; exposure to economic structures that aregenerally less diverse and mature, and to political systems which may have less stability,than those of more developed countries; smaller market capitalization of securities markets,which may suffer periods of relative illiquidity; significant price volatility; restrictions onforeign investment; and possible repatriation of investment income and capital.

Emerging Markets:

Foreign investing, such as non-US equity and fixed incomesecurities, involves risks, including risks related to foreign currency, limited liquidity, lessgovernment regulation and the possibility of substantial volatility due to adverse political,economic or other developments.

International Securities:

The spot exchange rate of the price of commodities may be extremelyvolatile and may be influenced by unpredictable factors, including fluctuations in marketprices. Market prices of commodities may fluctuate rapidly based on numerous factors,including: changes in supply and demand relationships; climate; trade; fiscal, monetary andexchange control programs; domestic and foreign political and economic events andpolicies; technological developments and changes in interest rates. The commodity marketsare subject to temporary distortions or other disruptions due to various factors, includingthe lack of liquidity in the markets, the participation of speculators and governmentregulation and intervention. In addition, U.S. futures exchanges and some foreignexchanges have regulations that limit the amount of fluctuation in futures contract priceswhich may occur during a single Business Day. These limits are generally referred to as“daily price fluctuation limits’’ and the maximum or minimum price of a contract on anygiven day as a result of these limits is referred to as a “limit price.” Once the limit price hasbeen reached in a particular contract, no trades may be made at a different price. Limitprices have the effect of precluding trading in a particular contract or forcing the liquidationof contracts at disadvantageous times or prices. These circumstances could adversely affectthe spot price of commodities and, therefore, the value of your investments in commoditiesor commodity futures-linked securities.

Commodities:

In addition to the risks that apply to alternative investments generally,there are risks specifically associated with investing in hedge funds, which may include thoseassociated with investing in short sales, options, small-cap stocks, “junk bonds,” derivatives,distressed securities, non-U.S. securities and illiquid investments.

Hedge Fund Risk:

Non-traditional asset classes are alternative investmentsthat include hedge funds, private equity, and private real estate (collectively, non-traditionalor alternative investments). These investments can be subject to substantial risks (includingthe risks associated with limited liquidity, the use of leverage, short sales and concentratedpositions), may involve complex tax structures and strategies, and may not be easily valued.The risks of alternative investments should be carefully considered in light of yourinvestment objectives, risk tolerance and net worth.

Non-Traditional Asset Classes:

In addition to the risks associated with alternatives investments and hedgefunds generally, there are risks specifically associated with investing in private equity.Capital calls will be made on short notice, and the failure to meet capital calls can result insignificant adverse consequences, including but not limited to a total loss of investment.

Private Equity:

In addition to the risks associated with alternative investments andhedge funds generally, there are risks specifically associated with investing in real estateproducts. They involve risks associated with debt, adverse changes in general economic orlocal market conditions, changes in governmental, tax, real estate and zoning laws orregulations, risks associated with capital calls, and, for some real estate products, the risksassociated with the ability to qualify for favorable treatment under the federal tax laws.

Private Real Estate:


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Glossary

Asset Allocation

The process of asset allocation provides a disciplined approach to assembling portfolios. Theexpectation is that by combining several asset classes, the resulting portfolio may experiencemore consistent returns with less volatility than the individual asset classes alone.

Asset Class

Asset Class is a term that broadly defines a category of securities that share commoninvestment characteristics. Typical broad asset classes include equities, fixed incomesecurities and cash and cash alternatives.

Cash Receipt Schedule

A Cash Receipt Schedule consists of one or more years of future after-tax amounts receivedfrom the anticipated sale of an Other Asset or exercising of Stock Options grants and isbased on information provided by you.

Concentrated Position

A concentrated Position is when your portfolio contains a significant amount (as apercentage of the total portfolio value) in individual stock or bond. Concentrated Positionshave the potential to increase the risk of your portfolio.

The Confidence Zone has been established to reflect an 85-99% probability of funding allgoals. This is the range of probability in which many people feel comfortable with theresults. You should discuss your personal confidence zone with your Financial Advisor.

Confidence Zone

The Results of Financial Goal Analysis calculations are in Future Dollars. To help youcompare dollar amounts in different years, we also express the Results in Current Dollars,calculated by discounting the Future Dollar amounts by the inflation rates used in thecalculations.

Current Dollars

For each Goal, the “Estimated % of Goal Funded” is the sum of the assets used to fund theGoal divided by the sum of the Goal’s expenses. All values are in current dollars. A result of100% or more does not guarantee that you will reach a Goal, nor does a result under100% guarantee that you will not. Rather, this information is meant to identify possibleshortfalls in this Plan, and is not a guarantee that a certain percentage of your Goals will befunded. The percentage reflects a projection of the total cost of the Goal that was actuallyfunded based upon all the assumptions that are included.


Earmarking is one of two ways to identify which assets and retirement income to be used tofund your goals. Earmark means that an asset or retirement income is assigned to one ormore goals, and will only be used for those goals. The other is Fund All Goals, which meansthat the asset or income is not earmarked to fund specific goals, and can be used to fundany goal, as needed in the calculations.

Earmark

Fund All Goals is one of two ways for your assets and retirement income to be used to fundyour goals. Fund All Goals means that the asset or income is not earmarked to fund specificgoals, and can be used to fund any goal, as needed in the calculations. The other isEarmark, which means that an asset or retirement income is assigned to one or more goals,and will be used only for those goals. The default is Fund All Goals, except for 529 Plansand Coverdell IRAs, which are generally used only for college goals. Fund All Goals isimplemented as either Importance Order or Time Order funding. Importance Order meansthat all assets are used first for the goal you identified as most important, then the nextmost important goal, and so on. Time Order means that all assets are used first for the goalthat occurs earliest, then the next chronological goal, and so on.

Fund All Goals

Your Current Portfolio is comprised of all the investment assets you currently own (or asubset of your assets, based on the information you provided for this Plan), categorized byAsset Class.

Current Portfolio

Future Dollars are inflated dollars. The Results of Financial Goal Analysis calculations are inFuture Dollars. To help you compare dollar amounts in different years, we discount theFuture Dollar amounts by the inflation rates used in the calculations and display the Resultsin the equivalent Current Dollars.

Future Dollars


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In Financial Goal Analysis, you choose an importance level from 10 to 1 (where 10 is thehighest) for each of your financial goals. Each importance level is defined to be a Need,Want, or Wish. Needs are the goals that you consider necessary for your lifestyle, and areyour essential goals. Wants are the goals that you would really like to fulfill after youressential goals are met. Wishes are the goals you hope to fulfill someday - "your wish list."

Needs, Wants, Wishes

In Financial Goal Analysis, Needs are your most important goals, then Wants, then Wishes.

Portfolio Total Return

A Portfolio Total Return is determined by weighting the return assumption for each AssetClass according to the Asset Mix.

The results using Monte Carlo employ probabilistic analysis to show a Probability of Successfor your various goals. See previous sections titled 'Results Using Monte Carlo' under'Methodology' and ‘Additional Important Information’.

Probability of Success

The Real Return is the Total Return of your portfolio minus the Inflation Rate.

Real Return

The Recommended Scenario is the What If scenario selected by you to be shown on theResults page and in the Presentation, if provided.

Recommended Scenario

The Risk Based Portfolio is the UBS Strategic Asset Allocation Model associated with youranswers to the Risk Assessment (risk profile questionnaire).

Risk Based Portfolio

The Inflation Rate is the percentage increase in the cost of goods and services for a specifiedtime period.

Inflation Rate

The Safety Margin is the estimated value of your assets at the end of this Plan, based on allthe assumptions included in this report. Only you can determine if that Safety Margin issufficient for your needs.

Safety Margin

The report illustrates social security options that may include the following. You may havereceived the Social Security Maximization report page, which illustrates additional potentialvariations of these social security scenarios.

Social Security: 3 methods illustrated for your review

Social Security Normal Filing Status

Normal Filing is when a person claims and receives Social Security benefits based on theirearnings or their spouse's earnings without filing and suspending or filing restrictedapplication.

Social Security Restricted Filing Status

Restricted application allows a married person to claim spousal Social Security benefits atFull Retirement Age (FRA) while deferring their own benefit and letting it grow until as lateas age 70. An individual can file restricted application as long as their spouse files for theirbenefits first.

Social Security File and Suspend Filing Status

A person can file for social security benefits and immediately suspend receipt of thosebenefits until some future date. This filing allows their spouse to claim a spousal benefit.

This is the age at which a person may first become entitled to full retirement benefits. It iscalculated based on the month and year you were born.

Social Security Full Retirement Age (FRA)

This measure of variability of returns highlights the level of uncertainty associated with aforecasted return. For example, the higher the standard deviation, the larger the likelydifference between the average return and potential results either on the upside or thedownside.

Standard Deviation

The Target Band includes the portfolio(s) that could be appropriate for you, based on therisk assessment (risk profile questionnaire).

Target Band

This represents the allocation strategy you have chosen to adopt for your investment plan.

Target Portfolio


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Total Return is the assumed growth rate of your portfolio for a specified time period. TheTotal Return is either (1) determined by weighting the return assumption for each AssetClass according to the Asset Mix or (2) is provided by you and entered on the What IfWorksheet.

Total Return

Willingness

In Financial Goal Analysis, in addition to specifying Target Goal Amounts, a Target SavingsAmount, and Target Retirement Ages, you also specify a Willingness to adjust these Targetvalues. The Willingness choices are Very Willing, Somewhat Willing, Slightly Willing, and Notat All.

Conducting Business with UBS: Investment Advisory and Broker Dealer Services

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1

2


As a wealth management firm providing services to clients in the United States, we areregistered with the U.S. Securities and Exchange Commission (SEC) as a broker-dealer andan investment adviser, offering both investment advisory and brokerage services

Our clients work with their Financial Advisors to determine the services that are mostappropriate given their goals and circumstances. Based on the services you request, we canfulfill your wealth management needs in our capacity as an investment adviser, as abroker-dealer, or as both. For example, we offer fee-based financial planning as an advisoryservice. Once we deliver a financial plan to you, you can decide whether to implement thefinancial plan via brokerage accounts, advisory programs or a combination, depending onyour needs and preferences. Most of our Financial Advisors are qualified and licensed toprovide both brokerage as well as advisory services depending on the services a client hasrequested.

In addition, some of our Financial Advisors hold educational credentials, such as theCertified Financial Planner™ (CFP®) designation. Holding a professional designationtypically indicates that the Financial Advisor has completed certain courses or continuingeducation. However, use of such designations does not change UBS' or the FinancialAdvisor's obligation with respect to the advisory or brokerage products and services thatmay be offered to you.

1 Examples of our advisory programs and services include our fee-based financial planning services and our ACCESS, Portfolio ManagementProgram, Managed Accounts Consulting, UBS Institutional Consulting, UBS Strategic Advisor, UBS Strategic Wealth Portfolio, UBSManaged Portfolio Program, and PACE programs. Examples of our brokerage accounts include our Resource Management Account® andthe International Resource Management Account.

2 Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federallyregistered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoingcertification requirements.

It is important to understand that investment advisory and brokerage services areseparate and distinct and each is governed by different laws and separate contractswith you. While there are similarities among the brokerage and advisory serviceswe provide, depending on the capacity in which we act, our contractualrelationship and legal duties to you are subject to a number of importantdifferences.

Our services as an investment adviser and our relationship with you

We offer a number of investment advisory programs to clients, acting in our capacity as aninvestment adviser, including fee-based financial planning, discretionary accountmanagement, non-discretionary investment advisory programs, and advice on the selectionof investment managers, mutual funds, exchange traded funds and other securities offeredthrough our investment advisory programs.

Generally, when we act as your investment adviser, we will enter into a written agreementwith you expressly acknowledging our investment advisory relationship with you anddescribing our obligations to you. At the beginning of our advisory relationship, we will giveyou our Form ADV brochure(s) for our advisory program(s) which provides detailedinformation about, among other things, the advisory services we provide, our fees, ourpersonnel, our other business activities and financial industry affiliations and conflictsbetween our interests and your interests.

How We Charge for Investment Advisory Services

We may charge for our investment advisory services in any of the following ways:

• A percentage of the amount of assets held in your advisory account

• A flat annual fee

• A combination of asset based fee and commissions

• Periodic fees

• Financial planning services are available for a fee

Generally, your Financial Advisor will receive a portion of the fees you pay us.


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Our Fiduciary Responsibilities as an Investment Adviser

When you participate in one of our investment advisory programs, we are considered tohave a fiduciary relationship with you. The fiduciary standards are established under theInvestment Advisers Act of 1940 and state laws, where applicable, and include:

3

• Obligations to disclose to you all material conflicts between our interests and yourinterests.

3 Fiduciary status under the Investment Advisers Act is different from fiduciary status under ERISA or the Internal Revenue Code. While inour investment advisory programs we act as a fiduciary under the Investment Advisers Act, we do not act as a fiduciary under ERISA orthe Internal Revenue Code unless we expressly agree to do so in writing.

• If we or our affiliates receive additional compensation from you or a third-party as a resultof our relationship with you, we must disclose that to you.

• We must obtain your informed consent before engaging in transactions with you for ourown account or that of an affiliate or another client when we act in an advisory capacity.

• We must treat you and our other advisory clients fairly and equitably and cannot unfairlyadvantage one client to the disadvantage of another.

• The investment decisions or recommendations we make for you must be suitable andappropriate for you and consistent with your investment objectives and goals and anyrestrictions you have placed on us.

• We must act in what we reasonably believe to be your best interests and in the event of aconflict of interest, we must place your interests before our own.

Termination of your advisory account or agreement will end our investment advisoryfiduciary relationship with you as it pertains to that account or service. Depending on theterms of your specific investment advisory agreement with us, termination will cause youraccount to be converted to, and designated as, a brokerage account only.

Our Services as a Broker-Dealer and Our Relationship With You

As a full-service broker-dealer, our services are not limited to taking customer orders andexecuting securities transactions. As a broker-dealer, we provide a variety of services relatingto investments in securities, including providing investment research, executing trades andproviding custody services. We also make recommendations to our brokerage clients aboutwhether to buy, sell or hold securities. We consider these recommendations to be part ofour brokerage account services and do not charge a separate fee for this advice. Ourrecommendations must be suitable for each client, in light of the client’s particular financialcircumstances, goals and tolerance for risk.

Our Financial Advisors can assist clients in identifying overall investment needs and goalsand creating investment strategies that are designed to pursue those investment goals. Theadvice and services we provide to our clients with respect to their brokerage accounts is anintegral part of our services offered as a broker-dealer.

In our capacity as broker-dealer, we do not make investment decisions for clients or managetheir accounts on a discretionary basis. Instead, we will only buy or sell securities forbrokerage clients based on specific directions from you.

How We Charge for Brokerage Services

If you choose to establish a brokerage account with us, you may elect to:

• Pay us for our brokerage services each time we execute a transaction for your account in aResource Management Account (RMA). If you choose to pay on a transaction-by-transactionbasis, we can act as either your agent or “broker,” or as a “dealer.”

• When acting as your agent or broker, we will charge a commission to you each time webuy or sell a security for you.

• When acting as a “dealer,” we act as a principal for our own account on the other side ofa transaction from you. Using our own inventory, we will buy a security from or sell asecurity to you, and seek to make a profit on the trade by charging you a “mark up,” “mark-down” or ”spread“ on the price of the security in addition to the commissions youpay on these transactions.

We pay our Financial Advisors a portion of commissions, profits on principal trades, andother charges.

Our Responsibilities to You as a Broker-Dealer

As a broker-dealer we are subject to the following:

• The Securities Exchange Act of 1934

• The Securities Act of 1933

• The rules of the Financial Industry Regulatory Authority (FINRA)

• The rules of the New York Stock Exchange

• State laws, where applicable


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These laws and regulatory agencies have established certain standards for broker-dealerswhich include:

• As your broker-dealer, we have a duty to deal fairly with you. Consistent with our duty offairness, we must ensure that the prices you receive when we execute transactions for youare reasonable and fair in light of prevailing market conditions and that the commissionsand other fees we charge you are not excessive.

• We must have a reasonable basis for believing that any securities recommendations wemake to you are suitable and appropriate for you, given your individual financialcircumstances, needs and goals.

• We are permitted to trade with you for our own account or for an affiliate or anotherclient and may earn a profit on those trades. When we engage in these trades, we disclosethe capacity in which we acted on your confirmation, though we are not required tocommunicate this or obtain your consent in advance, or to inform you of the profit earnedon the trades.

• It is important to note that when we act as your broker-dealer, we do not enterinto a fiduciary relationship with you. Absent special circumstances, we are notheld to the same legal standards that apply when we have a fiduciary relationshipwith you, as we do when providing investment advisory services. Our legalobligations to disclose detailed information to you about the nature and scope ofour business, personnel, fees, conflicts between our interests and your interestsand other matters are more limited than when we have a fiduciary relationshipwith you.

$1.7m endowment model 10/29/2014

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