An Amazing Sequence of Returns for Investors Aged 45-55

With the year 2018 in the books, we know the S&P 500, including dividends, has produced a meager 4.86% annualized return from the year 2000. That return has beaten inflation, but I call it meager because it's not the 10% or so that many stock brokers, financial advisors, and market historians have taught much of the public to expect for such a long period of time. The return is way below its long term average, even if our starting point is a bit arbitrary and convenient (the start of the technology stock meltdown).