How many Jakes are homeless? He's a real outlier because he still has a roof over his head, although you make scant mention of his living conditions. I think one of the strongest arguments for Social Security is that far too many people don't plan or never reach a level where they can save anything. Although Jake and his employer almost managed to screw that up too. But "happy" is a state of mind. Some people are happy locked in a padded room drooling all day.