Hacker News Reader

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.

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.