The Trinity Study Tables

Table 1: Portfolio Success Rate: Percentage of all Past Payout Periods From 1926 to 1995 That are Supported by the Portfolio

Note: Numbers in the table are rounded to the nearest whole percentage. The number of overlapping 15-year payout periods from 1926 to 1995, inclusively, is 56; 20-year periods, 51; 25-year periods, 46; 30-year periods, 41. Stocks are represented by Standard and Poor's 500 Index, and bonds are represented by long-term, high-grade corporates.
Data source: Calculations based on data from Ibbotson Associates.

Portfolio Composition/ Payout Period	Withdrawal Rate as a % of Initial Portfolio Value
	3	4	5	6	7	8	9	10	11	12
100% Stocks
15 Years	100	100	98	98	93	91	88	77	63	55
20 Years	100	98	96	94	92	84	73	61	47	43
25 Years	100	98	96	91	87	78	70	50	43	35
30 Years	100	98	95	90	85	78	68	54	49	34
75% Stocks-25% Bonds
15 Years	100	100	100	100	96	95	91	79	63	46
20 Years	100	100	100	96	94	88	71	51	41	33
25 Years	100	100	98	96	91	78	57	46	33	26
30 Years	100	100	98	95	88	73	54	46	37	24
50% Stocks-50% Bonds
15 Years	100	100	100	100	100	98	91	71	50	36
20 Years	100	100	100	100	96	88	61	41	25	10
25 Years	100	100	100	98	96	70	43	22	7	0
30 Years	100	100	100	98	90	51	37	15	0	0
25% Stocks-75% Bonds
15 Years	100	100	100	100	100	100	91	50	21	14
20 Years	100	100	100	100	100	71	24	12	4	2
25 Years	100	100	100	100	78	22	9	0	0	0
30 Years	100	100	100	100	32	5	0	0	0	0
100% Bonds
15 Years	100	100	100	100	100	79	43	38	14	7
20 Years	100	100	100	96	47	35	16	6	0	0
25 Years	100	100	98	52	26	7	2	0	0	0
30 Years	100	100	51	27	0	0	0	0	0	0