author of TFA here, I updated the descriptions a little, basically in year 25 you spend $2.321 in constant dollars (starting portfolio in the example is 100, so

author of TFA here, I updated the descriptions a little, basically in year 25 you spend $2.321 in constant dollars (starting portfolio in the example is 100, so 2.321% of starting portfolio adjusted for inflation) plus 8.218% of the value of the portfolio in that year. Using that strategy, over all 59 cohorts 1928-1986, - median cash flow in year 25 was 12.16 - worst case 3.756 - best case 27.38 - all as a % of starting portfolio, in constant dollars.