A house, a car, and enough to pay all the bills and still have some lifestyle, without the terror of knowing you are one job loss away from homelessness and starvation. Able to retire for 25 years before dying.

I think for us (a family not a single person) that really is a million in the bank and 200k per year. We don’t have that, nor do many others.

As a cap? I think nobody needs to accumulate more than 5 million in cash and other assets. Less if you live somewhere with reasonable pension and healthcare.