By, only I mean they don't also own a home and unlike most 60 year olds they don't have a pension or Social Security income etc.
3M is enough to live a 100k lifestyle for the rest of your life, but that’s considered ‘normal’ by HN standards even if it’s far better than most of humanity. But, my point is a young person with 3M is far richer than a retiree with that same income is they can also be self-sufficient (hava a job or just do things to save money) and let that money snowball. A retiree needs to insure a steady income without a job but a 25 year old can invest for the long term and take risks.
PS: Put another way, no pension, social security, or home equity but 100k is doing well by most standards at 25, but not so hot at 60.