That does not ignore inflation. You need just 7% returns on your investments (stock market has historically returned around 10%, but some of your money will be

That does not ignore inflation. You need just 7% returns on your investments (stock market has historically returned around 10%, but some of your money will be in lower return assets) to be able to take out 4% per year (pre-tax). 1M would be theoretically possible, the problem is that a decade of bad returns could cause you to run out of money.