2% real returns, huh?

So if you assume 4% withdrawals, 3% inflation, and 5.06% nominal return for 10 years (which gives us a real return of 2% (Formula for real return = (1+nominal rate)/(1+inflation rate)-1)), ending portfolio after 10 years would be 6.675% higher than initial amount.

E.g. starting at 1MM, spending 40k/yr, increasing with inflation at 3%/yr, earning 5.06%/yr (this is, of course, assuming steady returns, which totally skews things, and is the whole point of the trinity study, but I'm ignoring that for the moment), you'll end with 1,066,750 after 10 years.

At what point along the way do you monitor, and with what triggers? Saying "2% real after a decade" is nice, but I'd probably be looking at it before then, and looking at portfolio value, not just return amount.