It's not that great, no, but look at how much people can save in other countries: The idea of saving a million dollars outside of your home in Spain is basicall

It's not that great, no, but look at how much people can save in other countries: The idea of saving a million dollars outside of your home in Spain is basically fantasy. Much higher taxes, much lower salaries, and no savings vehicles that allow for strong deferred taxation: The max for the 401k equivalent is 1000 a year! So the vast majority of workers are saving basically nothing that isn't their home, and will rely on social security. Not that they would be happy to save... the wealth tax in large parts of Spain starts after $500k, and you pay yearly. 1 to 2% of wealth starting that early makes retiring early basically impossible: 4% is not a safe withdrawal rate anymore. So it's not a matter of everyone in the US having it easy, but how hard a road most people have now elsewhere.