It’s enough money to pay for perpetual retirement — it would provide an inflation-adjusted $50k per year indefinitely, which is what that median-earner was making. So $1.3m is enough to never need to work, and that doesn’t include social security.

Throw in that extra $15-20k per year from SS and you’re living a pretty wealthy life (especially if you’ve managed to pay off a house during your life, so no mortgage. Otherwise just put $300k of the 1.3 to pay cash for a house. Having no mortgage makes your money go even further, and you’ll be rolling in money.)