Retiring in 1968: a 4% withdrawal ran out of money in year 30

Retiring in 1968 with $1M and a 4% inflation-adjusted withdrawal, the money ran out in year 30 (1997). Its worst year was 1974, when the S&P 500 lost 20.7% including dividends. Inflation had pushed the yearly withdrawal from $40K to $187K by then. A 1968 retiree started near a market peak, then faced the 1973-74 bear market and the high inflation of the 1970s.