I've put it into Excel a while ago with growth rates between 0% and 6%, the gist of it is fairly robust with respect to growth assumptions.
A way to think about it is maybe this: remove 1% pa, and to first order you're down about a third after 35+ years.
Now, in the scenario where you're saving regularly, there's much less to take away at the beginning, so the effect is somewhat ameliorated.
But it's really this relentless pounding, shaving off a "small" fraction every year, that's so devious.
As a consumer, it's hard to see. But the industry knows exactly what they're doing, which is why (for some products) they're paying these fat commissions, which is why you have all these friendly financial advisors calling.
