I think cost of living should be factored into this though. San Francisco is one of the most expensive cities in the world. 2 million is meager to try and retire in SF. You are correct that he clearly isn't broke.

> If he's broke, then at least 90% of retirees are broke.

Maybe that should tell you something about the state of retirement savings in this country.

Most people are some combination of financially irresponsible and uneducated. Honestly, with the numbers you have here I have to lean towards irresponsible regardless of whatever difficulties the middle class faces. Even at a median wage just doing the absolute bare minimum of saving 5%-10%, not even factoring in 401ks, would leave you well past this given the last few decades of market returns.