Retiring in 1929: the worst year to start the 3.5% rule

Retiring in 1929 with $1M and a 3.5% inflation-adjusted withdrawal, the money ran out in year 50 (1978). Its worst year was 1931, when the S&P 500 lost 43.1% including dividends. Inflation had pushed the yearly withdrawal from $35K to $128K by then. 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.