FIRE: capital withdrawals

How spending and capital progress

Year 1 uses the supplied annual spending directly. From year 2, spending is multiplied annually by your inflation factor. Start-of-year timing subtracts the full amount first, then applies the return to remaining capital. End-of-year timing applies the return to opening capital first, then withdraws.

If available capital is insufficient, that attempt pays nothing and the model stops. It neither borrows nor makes a partial withdrawal. Equality fully funds the expense and may close the year at exactly zero; a funded horizon ending at zero differs from a later shortfall.

Scenario years are relative positions, not a trading or retirement calendar. Constant rates and spending are your assumptions; the model excludes taxes, fees, longevity, market fluctuations and success probability. It does not determine whether you can safely retire.