I just met an annuity salesman. He showed me a chart of some variation of the S and P index, without from 1998 to 2013 this index increased in value from $100000 to $190000 The salesman said that this showed a 6% annual return. I looked at his chart and informed him that the return was actually 4.8%. He asked me how I determined the return without a calculator. I explained to him the magic of 72. He started out claiming to have a S and P index annuity product. It turns out the product was 90% of the S and P minus dividends minus one half of one percent. I did a rough calculation in my head an
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