This article confuses income with net worth, something that many people do. Just because someone makes $1 million/yr does not make them a millionaire, unless their assets minus liabilities equals > $1 million. I’m sure there are many $1 million income earners who have negative net worth.
I know people who make ten times what I do, and have lots of nice toys to prove it.
They are also in debt up to their eyeballs and one banana peel away from disaster.
It is probably just the opposite. There are probably many more “asset millionaires” versus “income millionaires”.