Totally agree on not timing the market and staying invested. Nonetheless this analysis raises more questions than answers for me. First, as you often see in th

Totally agree on not timing the market and staying invested. Nonetheless this analysis raises more questions than answers for me. First, as you often see in these studies, they use the S&P500 which has returned a 9 or 10% annualized rate for decades now. How realistic is it to see someone's entire wealth invested in just this benchmark? Diversification will almost always mean returns lower than than the S&P. Ultimately this erodes at the findings of the study. Second, there's no mention of yield which is basically the guaranteed portion of the return. This portion alone accounts for a quarter of your annual return making it another compelling reason to be invested early.