11% has been a financial planning standard since time immemorial (ok, well, since after the great depression). If a hedge fund or other investment isn’t hitting 11%, you should be in S&P or NDQ which flattens to 10% over time… or “only” 6-7% after adjusting for inflation.
The last 30 years are considered “below average”. The market only grew 9.9%/year on average. Which apparently that 0.1% is a big deal for investors.
Here’s a fairly good breakdown on SOFI. Obviously, we’ll never know what the future holds, but 10% over time is the “bad return” that rich people talk about.