OK, any jam right now is wishful thinking. But what should you wish for? There is an answer to this, and it depends on who you are. Savers want one thing, and pensioners another. Because savers are accumulators, and pensioners de-accumulators. Both want maximum return at the moment they hold the maximum amount of money - which is at retirement. So if you faced 7lean years, and 7good years, savers want the lean years first. So its jam tomorrow for them.
For pensioners - as they run down their stash - they want the good years first. So for them it is actually jam yesterday. They want the best years to have happened at retirement.
But what about someone who invests a fixed lump sum and leaves it untouched? For them the order of returns doesn't matter.
Which is odd, because it means no one really needs jam today.
