export default function FinancialDisclaimer() {
  return (
    <div className="mt-3 text-xs text-gray-600 border-t pt-3 leading-snug">
      <p>
        <strong>Important:</strong> These projections are educational estimates and <strong>not</strong> financial, tax,
        legal, or investment advice. Federal tax is approximated using the <strong>single‑filer standard deduction
        ($13,850)</strong> and <strong>2023 federal brackets</strong>; state tax is a <strong>flat percentage by
        state</strong> from an internal table. Estimates <strong>exclude</strong> Social Security/Medicare (FICA),
        local taxes, itemized deductions, credits, AMT, capital‑gains rules, and self‑employment taxes. Actual outcomes
        vary.
      </p>

      <details className="mt-2">
        <summary className="cursor-pointer select-none">Assumptions & limitations</summary>
        <ul className="list-disc pl-5 mt-2 space-y-1">
          <li><strong>Filing model:</strong> W‑2 wages, single filer, standard deduction only; no dependents, credits, or adjustments.</li>
          <li><strong>Federal tax calc:</strong> Monthly estimate = (annualized income − $13,850) through 2023 bands (10/12/22/24/32/35/37%), divided by 12.</li>
          <li><strong>State tax:</strong> Single flat rate per state from a fixed lookup; local/city taxes not modeled.</li>
          <li><strong>Payroll taxes:</strong> FICA is <strong>not</strong> included.</li>
          <li><strong>Education & loans:</strong> Tuition follows the chosen academic calendar; if deferring, tuition is added to loan principal and interest accrues monthly at the specified APR. No IDR/PSLF/forbearance nuances.</li>
          <li><strong>Income changes:</strong> Expected salary replaces current salary starting at/after the provided graduation date; other changes come from user‑defined milestones.</li>
          <li><strong>Contributions & withdrawals:</strong> Retirement/emergency contributions treated as post‑tax outflows. Retirement withdrawals treated as taxable ordinary income; no early‑withdrawal penalties/RMD rules modeled.</li>
          <li><strong>Returns:</strong> Retirement balances use the selected strategy (none / flat annual rate / random monthly range). No general inflation is applied unless you model it via milestones.</li>
          <li><strong>Data sources:</strong> Public datasets (e.g., BLS/NCES) may change without notice. COL adjustments not applied unless explicitly labeled.</li>
        </ul>
      </details>
    </div>
  );
}