When I create a report assuming conservative spending (zero real investment return), my Monte Carlo results (at page 128) show that the "Zero Real Return" and the "Specified Mean Real Return" are the same. That makes sense because my specified mean real return (with conservative spending) was zero. However, when I change to cautious spending (half of the mean real return), the results seem puzzling. The "Specified Mean Real Return" rises (which makes sense because I now assume that this return will be half the mean instead of zero), but the "Zero Real Return" now becomes higher than it was under the conservative spending scenario (when I would think they would be the same), and it is now higher than the Specified Mean Real Return (when I would think is would have to be below the Specified Mean Real Return). Can someone explain this to me?