**The following graphs show the number of years (for each
of the 54 different 30 year retirement scenarios) that you would have encountered an
income drop of greater than 10% of your targeted income. This data was generated using an
initial portfolio value of $1,000,000, and compares the income volatility of the inflation
adjusted withdrawal targets of $44,000 vs. $55,000. See the Methodology chapter for the
exact withdrawal methodology. Note that this analysis does not differentiate between an
11% drop and a 25% drop - both are greater than 10% and that is all that is recorded here.
**

**Note also that for the 5.5% withdrawal case there were
some starting years (such as 1969) where (regardless of asset allocation) you rarely hit
your 5.5% withdrawal target. I also found it interesting that the 'volatile' asset
allocation of 80% equities significantly reduced this measure of volatility (over the
other asset allocations). To see why see the next graph (***Worst
Case Year*) where you will see that the real cost of the more aggressive asset
allocation was a larger income reduction in really bad years.