it's becoming truer everyday that $1m is not enough to be considered "rich" thanks to inflation. the avg age of a millionaire in the US is 62 (approx retirement age for most countries in the world). if a 62yo owns their house and has enough to retire in the US, there's a large chance they're a "millionaire".
controversial, but i think someone's relation to capital is more important than their raw net worth. though tbf at some net worth number your relationship to capital does fundamentally change as something like investing in the stock market becomes enough proxy for ownership.