No, it is not fair. If you look at the global stock market (which is 'the market' as such) the returns have not been that high. 8% is based on a nation that has

No, it is not fair. If you look at the global stock market (which is 'the market' as such) the returns have not been that high. 8% is based on a nation that has indeed done exceptionally well. If you look at current P/E ratios and dividend yields it is almost impossible we would see that as a consistent average going forward. Also look at bond yields: very very low - so a balanced portfolio will do less well, too.