{
  "scope": "Hypothetical educational reference allocations; not provider models",
  "assets": [
    "Public equities",
    "Bonds",
    "Cash",
    "Illiquid assets"
  ],
  "models": [
    {
      "id": "balanced",
      "name": "Balanced reference",
      "weights": [
        50,
        30,
        10,
        10
      ],
      "objective": "A transparent starting mix",
      "tradeoff": "Market exposure can dominate the spending plan.",
      "use": "Compare liquid market exposure with a modest illiquid sleeve."
    },
    {
      "id": "liquidity",
      "name": "Liquidity first",
      "weights": [
        35,
        30,
        25,
        10
      ],
      "objective": "Protect near-term obligations",
      "tradeoff": "A larger reserve changes the long-term growth budget.",
      "use": "Separate the cash reserve from assets expected to fund later years."
    },
    {
      "id": "long-horizon",
      "name": "Long horizon",
      "weights": [
        55,
        15,
        5,
        25
      ],
      "objective": "Explore a larger illiquid budget",
      "tradeoff": "Commitments and valuations can complicate rebalancing.",
      "use": "Test capital calls and lower distributions before increasing lockups."
    },
    {
      "id": "capital-preservation",
      "name": "Capital preservation",
      "weights": [
        25,
        40,
        30,
        5
      ],
      "objective": "Reduce illustrative equity sensitivity",
      "tradeoff": "Inflation and bond duration still matter.",
      "use": "Assess the balance between nominal stability and purchasing power."
    }
  ]
}