Were your guesses close?

Over the last 86 years

Your Guess




12% or more

6 years 7%

Small Loss

0% to -11.9%

15 years 17.4%

Small Gain

0.1% to 11.9%

19 years 22.1%


12% or more

46 years 53.5%

*Based on 2022 S&P 500 Index data. An investment cannot be made directly into an index.


Do your guesses match the reality of the data? If not, seeing the differences quantified may help you realize how misconceptions about stock market realities can affect your investment decision-making.

If you allow your emotions to guide your investment strategy, just one behavioral failure could significantly alter your path to a secure retirement.

Hopefully, taking this quiz will empower you with greater self-awareness and help you persevere and make more informed decisions when markets get choppy.

Keep scrolling for an interesting historical snapshot of market returns since 1937.

A snapshot of market growth and loss from 1937 to 2022

As you can see, the market tends to fluctuate, but historically, there have been more years of growth than years of loss.


S&P 500 Index1

S&P 500 Index as of 12/31/2022. Chart is for illustrative purposes only and is not representative of the performance of any particular portfolio, security, or strategy. An investment cannot be made directly in an index. Past performance is no guarantee of future results.


Emotions often cloud investor judgment, so being armed with facts means having more confidence in your choices. In the end, this can have a positive effect on your investment portfolio and your future.

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1Source: Morningstar Direct. S&P 500 Index annual total returns 1937 – 2022. The S&P 500 Index (the “Index”) is a product of S&P Dow Jones Indices LLC (SPDJI), and has been licensed for use by Jackson. Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Jackson. Jackson’s Products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the index.

Jackson, its distributors, and their respective representatives do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used and cannot be used for the purpose of avoiding U.S. federal, state, or local tax penalties. Tax laws are complicated and subject to change. Tax results may depend on each taxpayer’s individual set of facts and circumstances. You should rely on your own independent advisors as to any tax, accounting, or legal statements made herein.

Investing involves risk, including loss of principal.

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