1. The S&P 500 has returned about 14% per year over the past decade, so a return of 12% isn't particularly notable.
2. Market returns vary greatly from decade to decade, so we shouldn't necessarily expect this 14% rate of return to continue. (Most obviously, there were no recessions in the past decade, which is unusual.)
2. Market returns vary greatly from decade to decade, so we shouldn't necessarily expect this 14% rate of return to continue. (Most obviously, there were no recessions in the past decade, which is unusual.)