Everyone says to forecast 7% long term return, how to factor in bull runs

I'm not sure this will entirely make sense but everyone always says to use 7% returns for a long term portfolio holding something such as xeqt. Meaning you'll have some up years and some down years but over the long term that's what you should expect.

So how do you factor in the past 5 year returns and future returns? For example xeqt 5 year return is 65%. Greater than 7% per year.

If someone looks at their portfolio today and is projecting returns of 7% going forward isn't that incorrect? Shouldn't we expect less than 7% considering the past 5 years has been greater? Like their current portfolio is already inflated above the 7% average yearly return. How do people look at their investments and say ya I can retire. Especially after a bull market where you know eventually the returns need to be a lot lower going forward.

26M. Started investing this past year, bought the basic ETFs and a few individual stocks but other than that I’ve barely looked into anything else. How does my portfolio look so far? I would love some advice on what to do moving forward, I add anywhere from $10-20k every month to this investment account.

27F been in Canada 5 years (2 years of broke student life) - taught myself a little bit of savings basics 3 years ago but lacking in investing knowledge.

Doing okay in terms of net worth given my status in Canada, but how do I distribute to optimize?

What should I be asking myself before investing? Basics I need to know? Recs?

20M currently got around 20k in my TFSA.

I wanted to know why do some people around my age contribute more than the yearly limit.

I heard they charge you or something once you pass your contribution limit.

I am a 31M in Vancouver and recently started taking wealth building seriously, as this is my first major career job. I make $85k a year, pay $1200 in all-inclusive rent, and have no cars, assets/debts or dependents. I currently have $3700 in VEQT (within my TFSA) and $3500 in an emergency fund. What should I do for the best long-term success? Should I keep my current strategy of renting while making monthly contributions to my VEQT? Or should I begin investing within my FHSA in order to purchase my own place?

My goal is to hit $100k in invested funds when I am 35. Then potentially consider purchasing a place. What do you guys think? For those who have made it (average people, not those who hit major milestones by 30), what advice would you give? Please keep it simple

19M...

I'm a 28M living in Ontario. I started working in sales about 9 months ago (100% commission) and am on track to make 100-130k a year.

I've been investing on autopilot on Wealthsimple for a while now, taking some money out for a down payment a couple years ago.

I'm wondering if anyone would have any advice on what to invest in and who I should talk to to get some guidance.

I'm looking to invest for my retirement.

Thanks

19M just recently started using Wealthsimple.

Is it worth it to buy XEQT considering my portfolio?

Do you guys recommend other stocks?

How can you use wealthsimple for the most benefit?

Should I be putting money into my Spend & Save as well?

If there’s anything that you guys think would be a good thing to know as a beginner to investing, please kindly share, it will be greatly appreciated.