>Investing/saving $5K a month for 15 years with an expected rate of return of 7% and an expected inflation rate of 3% will bring you to a place where you end up

>Investing/saving $5K a month for 15 years with an expected rate of return of 7% and an expected inflation rate of 3% will bring you to a place where you end up with a balance of ~$1.5MM (or $1MM after inflation) to your name. Would that make you wealthy in your books? Definitely not. You get 'wealthy' when an event clears you a million. Anything other than that is just being 'well off'