Anyway, why would you want to live on a variable income by taking a fixed percentage of the current balance, and being forced to find work, instead of starting with a steady income, adjusted for inflation yearly?

To be able to go sooner, before the capital has reached a high enough balance to be able to support a fixed withdrawal at my level of income need. BTW, if my income is more than I need, I will of course invest the difference which will help for rainy days in the market.

"...forced to find work" sounds so unpalatable - I don't think it would be so bad to work a few days here and there at something like substitute teaching, temping, etc. Part of the problem with full time work is it's just that - full time.

BTW, I missed the Ann's post with the spreadsheet. Could you post the URL?

You can find it at:
http://www.fool.com/DDow/1999/DDow990712.htm