Here in the UK, after tax, $50K/yr doesn't even cover my mortgage, and I live in a house that over 100 years ago, according to the 1911 census, supported a family of 5 on a carriage drivers single income.

I earn a top 1% salary as a dev and retirement will still be 20-25 years away for me under ideal conditions - i.e. a 40% savings rate.