No. Suppose you retire in 2008. That means you were likely investing since 1970 so your total return since then has been or 9% per year. Realistically you're w

No. Suppose you retire in 2008. That means you were likely investing since 1970 so your total return since then has been or 9% per year. Realistically you're weighted in the middle of that, so over the last 20 years the return was 177% (log) or also close to 9% per year. And note you're not liquidating your savings in 2008. And also note there is a yield that adds a bit more return.