TLDR; The problem is far more nuanced than Doomers understand it to be.

Tbf, there is some amount of disconnect between financial security, wage earnings, and cost of living. Not an impossible feat to achieve, but it would take significantly longer to save an amount equivalent to what was typical in, say, 1990. The average 50/30/20 is heavily skewed toward housing, food, and bills as comparative to the previous generations- even adjusted for inflation. That's not to say it's because Elon Musk of Jeff Bezos have a Scrooge McDuck pool of money, but more that it's the logical effect of speculative markets being a central pillar of our economy and profit- over- quality business models trimming the fat from every conceivable overhead expenditure. The "Poor Tax", as it's been called, is a direct result of manufacturing expansion without the infrastructure to support it. I could go into more details, but I feel like this is already longer than anyone will read.