Compare Assets
Annualized total returns (CAGR) with dividends reinvested
Visualizing Long-Term Growth
How returns compound over time
Growth of $10,000 (20 Years)
Annualized Returns by Period
Key Takeaways
What the long-term data tells us
📈 Equities Win Long-Term
Over 30 years, global equities have returned 8–12% annually. Volatile, but consistently rewarding.
🛡️ Bonds Provide Stability
Investment-grade bonds return 3–5% long-term—less than stocks, but they anchor portfolios during crashes.
🪙 Gold Hedges Inflation
Gold has delivered ~8% over 20 years. No income, but preserves purchasing power.
⏳ Time Beats Timing
Missing the best 10 days per decade can halve your returns. Stay invested.
Inflation: The Silent Eroder
Nominal returns look great—until you account for purchasing power
S&P 500 (20yr)
US Bonds (20yr)
Gold (20yr)
Cash / Savings
Historical Downturns
Every generation of investors faces a crisis that feels like the end. None have been.
2008 Global Financial Crisis
Subprime mortgage collapse triggered worldwide banking crisis
2020 COVID-19 Crash
Pandemic shutdown caused fastest bear market in history
2000 Dot-Com Bust
Tech bubble burst after years of speculative excess
1990 Japan Asset Bubble
Property and stock bubble led to "Lost Decades"
1997 Asian Financial Crisis
Currency collapse spread across East Asian economies
2011 European Debt Crisis
Sovereign debt fears threatened eurozone breakup
Equity Markets
Global stock indices — annualized total returns
| Index | 1Y | 5Y | 10Y | 20Y |
|---|---|---|---|---|
S&P 500United States |
17.9% | 14.5% | 12.8% | 10.2% |
NASDAQ 100US Technology |
21.0% | 18.2% | 20.8% | 13.8% |
FTSE 100United Kingdom |
9.5% | 6.1% | 5.8% | 6.3% |
DAXGermany |
39.0% | 10.1% | 8.9% | 8.4% |
Nikkei 225Japan |
19.2% | 12.4% | 11.2% | 6.8% |
ASX 200Australia |
10.6% | 7.8% | 9.3% | 8.1% |
MSCI EMEmerging Markets |
7.5% | 5.1% | 7.9% | 8.4% |
NZX 50New Zealand |
6.8% | 5.2% | 9.0% | 10.0% |
Bonds & Alternatives
Fixed income, commodities, real estate
| Asset | 1Y | 5Y | 10Y | 20Y |
|---|---|---|---|---|
US AggregateInvestment Grade |
1.3% | -0.2% | 1.4% | 3.2% |
10-Year TreasuryUS Government |
-1.6% | 0.8% | 2.1% | 3.8% |
US CorporateInvestment Grade |
2.1% | 0.5% | 2.8% | 4.2% |
High YieldBelow Inv. Grade |
8.2% | 4.1% | 5.2% | 6.8% |
Global BondsHedged USD |
1.8% | -0.5% | 1.2% | 2.9% |
GoldPrecious Metal |
26.0% | 12.4% | 8.8% | 10.3% |
US REITsReal Estate |
4.2% | 4.8% | 6.2% | 8.4% |
CommoditiesBroad Index |
5.4% | 8.2% | 2.1% | -1.2% |
Data Notes & Sources
- All returns are annualized (CAGR) with dividends reinvested
- Data as of December 2025 — updated quarterly
- US equity data from NYU Stern (Damodaran)
- International indices from respective exchanges
- Bond data from Bloomberg Barclays indices
- Returns shown in local currency
- Inflation data from US Bureau of Labor Statistics (CPI-U)
- Past performance does not guarantee future results
Wisdom from Long-Term Investors
What history's most successful investors understood
"The stock market is a device for transferring money from the impatient to the patient."— Warren Buffett
"Time in the market beats timing the market."— Ken Fisher
"The individual investor should act consistently as an investor and not as a speculator."— Benjamin Graham
"Don't look for the needle in the haystack. Just buy the haystack."— John Bogle
"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."— Peter Lynch
"The four most dangerous words in investing are: 'This time it's different.'"— Sir John Templeton
Since 1950, the S&P 500 has experienced a decline of 10% or more roughly once every 18 months. Declines of 20% or more (bear markets) occur about once per decade. Yet the market has recovered from every single one—eventually reaching new highs. The investors who stayed the course were rewarded; those who sold at the bottom locked in their losses permanently.