|
$26,548
|
|
1981
|
−3.19%
|
$14,400
|
$26,863
|
|
1982
|
6.61%
|
$15,600
|
$29,918
|
|
1983
|
25.37%
|
$16,800
|
$39,013
|
|
1984
|
6.47%
|
$18,000
|
$42,815
|
|
1985
|
51.83%
|
$19,200
|
$66,827
|
|
1986
|
45.35%
|
$20,400
|
$98,878
|
|
1987
|
10.06%
|
$21,600
|
$110,146
|
|
1988
|
20.56%
|
$22,800
|
$134,238
|
|
1989
|
24.15%
|
$24,000
|
$168,147
|
|
1990
|
−12.00%
|
$25,200
|
$149,025
|
|
1991
|
18.42%
|
$26,400
|
$177,897
|
|
1992
|
−4.10%
|
$27,600
|
$171,754
|
|
1993
|
25.25%
|
$28,800
|
$216,624
|
|
1994
|
6.19%
|
$30,000
|
$231,308
|
|
1995
|
20.73%
|
$31,200
|
$280,707
|
|
1996
|
13.73%
|
$32,400
|
$320,612
|
|
1997
|
15.33%
|
$33,600
|
$371,146
|
|
1998
|
27.58%
|
$34,800
|
$475,039
|
|
1999
|
29.04%
|
$36,000
|
$614,539
|
|
2000
|
−13.80%
|
$37,200
|
$530,767
|
|
2001
|
−17.86%
|
$38,400
|
$436,958
|
|
2002
|
−18.75%
|
$39,600
|
$356,003
|
|
2003
|
38.08%
|
$40,800
|
$493,226
|
|
2004
|
18.27%
|
$42,000
|
$584,758
|
|
2005
|
11.52%
|
$43,200
|
$653,460
|
|
2006
|
23.11%
|
$44,400
|
$805,953
|
|
2007
|
11.16%
|
$45,600
|
$897,231
|
|
2008
|
−41.72%
|
$46,800
|
$523,605
|
|
2009
|
30.40%
|
$48,000
|
$684,346
|
|
2010
|
8.62%
|
$49,200
|
$744,640
|
|
2011
|
−7.99%
|
$50,400
|
$686,248
|
|
2012
|
18.34%
|
$51,600
|
$813,526
|
|
2013
|
26.59%
|
$52,800
|
$1,031,361
|
|
2014
|
2.02%
|
$54,000
|
$1,053,419
|
|
2015
|
−0.44%
|
$55,200
|
$1,049,979
|
|
2016
|
6.53%
|
$56,400
|
$1,119,821
|
|
2017
|
−2.25%
|
$57,600
|
$1,394,068
|
|
2018
|
18.52%
|
$58,800
|
$1,258,000
|
|
2019
|
28.21%
|
$60,000
|
$1,595,348
|
|
2020
|
16.61%
|
$61,200
|
$1,895,913
|
SOURCE: Morningstar Direct.
Your Investment Time Horizon Is Longer Than You Think
A few years ago, I met a 50‐year‐old Canadian woman who lives and works in Ethiopia. “I need to take bigger risks with my money,” she said, “because I'm only going to be investing for 15 years. I want to retire when I'm 65.” She failed to realize, however, that if she retires at age 65, her investment duration isn't 15 years. If she lives until she's 85, her investment duration would be 35 years. Investment lifetimes have two
