Who are America’s fastest-growing class of millionaires? They are police officers, firefighters, teachers and federal bureaucrats, who, unless things change drastically, will be paid something near their full salaries every year–until death–after retiring in their mid-50s. That is equivalent to a retirement sum worth millions of dollars.
Never thought about it this way. Social security is on its way out; turns out the people with a guaranteed pension end up among the richest. You have to make a lot, save a lot, and manage your savings really well to match that.
And no, this is not socialist Europe, this is the good ol’ US of A, Gini index 45.0.