Returns depend upon the starting and ending point. This series of charts present the compounded annual returns for an investor that began investing during any start year since 1900 and ending with any subsequent year. The versions presented reflect those for taxpayers (i.e. individuals, trusts, etc.) and for tax exempt or tax deferred investors (i.e. retirement accounts, pension plans, foundations, etc.), as well as returns on a nominal and real (after inflation) basis. The stock market index, dividend, and P/E ratio data is based upon the methodology popularized by highly acclaimed Professor Robert J. Shiller (Yale University; Irrational Exuberance) and others. Other data is developed from other sources believed to be reliable.
The charts are scaled for printing on a single sheet of 11 x 17 paper or on two 8 1/2 x 11 pages for subsequent alignment. See the assumptions and legends for important details. If you do not have a printer that accepts 11 x 17 paper, it is recommended to save the file to a disk and have a color copy printed on gloss stock at FedEx Office (Kinko’s) or other printing service. The terms of use for all materials are detailed below.
Updated Through 2011
| Version | Single Page | Double Page |
|---|---|---|
| Stock Index Only | 11 x 17 | 8 1/2 x 11 |
| Taxpayer Nominal | 11 x 17 | 8 1/2 x 11 |
| Taxpayer Real | 11 x 17 | 8 1/2 x 11 |
| Tax-Exempt Nominal | 11 x 17 | 8 1/2 x 11 |
| Tax-Exempt Real | 11 x 17 | 8 1/2 x 11 |
| Stock Index Only: Year End Index | 11 x 17 | 8 1/2 x 11 |
Download Assumptions Graph
Key to Reading the Stock Market Matrix
