Retiring in 1973: a 4% withdrawal ran out of money in year 37

Retiring in 1973 with $1M and a 4% inflation-adjusted withdrawal, the money ran out in year 37 (2009). Its worst year was 2008, when the S&P 500 lost 35.2% including dividends. Inflation had pushed the yearly withdrawal from $40K to $198K by then. The 1973 oil embargo and the 1973-74 bear market cut the S&P 500 nearly in half, while inflation pushed withdrawals up fast.