Many people that made less than 100K/year for their entire working life retire with several million
How is this funded? You mean "some people" who either start saving very, very early (like teens) or people who inherit money, land or businesses, right?
Because several million is more than 2, right? And to get to 3 million dollars in 40 years of working (saving) would require a monthly deposit of around $1500, assuming 6% return over that 40 years.
Even with a more generous 8%, you're still at $900 per month.
But, your broader point is well taken. Millionaires are people who spend less (particularly young), spend smarter and focus on the long game, not necessarily those who earn more money (though it is easier for the high earners to get there.)
This post was edited on 7/29 at 4:41 pm