Unknown – it all depends on what you invest in.  There are low-risk investments and there are high risk investments.  But taking into consideration market peaks and valleys, almost every decade since 1950 has yielded at least 10% average annual rate of return in the markets, before tax.  You and your Smith Manoeuvre Certified Professional investment advisor are free to apply your own assumptions to The Smith Manoeuvre.  The Smithman Calculator will show you how you can make sumstantial gains with even quite conservative growth estimates.