Pure obfuscation. There is no difference mathematically between getting a cash payment of $1 million, or getting an annuity that pays $50K per year for 30 years.<quoted text>
from your old friend wiki..
A millionaire is an individual whose net worth or wealth exceeds one million units of currency. It can also be a person who owns one million units of currency in a bank account or savings account.
One of the two most commonly used measurements is net worth, which counts the total value of all property owned by a household minus the household's debts.
"a person whose material wealth is valued at more than a million dollars"
None of these defintions apply to a retiree getting money over 30 years IF they live for the full term of the annuity
Retirees making 50K in a pension over 30 years are NOT millionaires.
By your definition, if I buy a bond for $1 million, I am NOT a millionaire, because I no longer have the $1 million in cash, just an investment worth one million.
The math is the math.