Retiring in 1929: the worst year to start the 3% rule

Retiring in 1929 with $1M and a 3% inflation-adjusted withdrawal, the portfolio grew to $5.3M after 50 years. Its worst year was 1931, when the S&P 500 lost 43.1% including dividends. 1929 is the year of the Great Crash, when stocks peaked in September, crashed in October, and went on to lose more than 80% of their value by mid-1932.