You're right, but the difference is that figure is for ONE "average American," not an entire family. A lot of these kids are being pressured to not only take care of their immediate family but their entire family. They have their hand held out and expect to share in the money. That is one of the many ways people who aren't used to having money go broke real quick once they get it.
Very good point.
Fun exercise. Use round round numbers and a calculator. Takes 1-2 minutes at most.
Take the salary/benefits...basically what you've grossed over the last 10-20-30 years depending on your age. Add it up.
If you've been a wage owner for close to 30 years, you'll be shocked at the amount of money you've made in your lifetime.
If you've only made 50K and made it for 30 years you've made 1.5 million dollars. Incidently, according to the Bureau of Laber Statistics the average American makes around 51K a year.
Now, if your income level is around 50K a year and/or you have made that for 30 years, do you feel rich??? Remember, you are paying taxes out of this $$$.
I won't hold my breath waiting on positive answers to that.
Many people today probably feel like they are living at the poverty level if they only make 50K a year.
If you've been so lucky to make 75K to 100K a year, add it up and see how many times you've been a "millionaire." If you make 150K a year, you'll make a million in a little less than 7 years!
The point: You can make GREAT money and you'll probably never feel rich, much less feel like you can support more than 1-3 dependents on a very good salary.
So thinking 2 million dollars is enough to last for you, future spouse/kids and parents for the rest of your life is fools gold.