Below are corrections and clarifications for the book.

**1) Page 41. Chapter 3. Section: Interpreting the Results**

The *Average Remaining* value is not inflation adjusted.

**2) Page 110. Chapter 4: Section: Strategy 6: Endowment Formula **

The Endowment Formula description is corrected below (the backtesting numbers are correct).

1. Calculate the *inflation-adjusted withdrawal amount* by adjusting the previous year’s withdrawal amount (or initial withdrawal amount) by inflation

2. Calculate the *fixed-percent amount* by multiplying the initial withdrawal rate (e.g., 5%) by the current portfolio value.

3. Calculate this year’s *current withdrawal amount* by adding 70% of the *inflation-adjusted withdrawal amount* (from step 1)

to 30% of the *fixed-percent amount* (from step 2).

4. Withdraw the *current withdrawal amountÂ *calculated in step 3 (and save this withdrawal-amount to use in step 1 the next year).

**END OF LIST**