Financial Pundits recommend allocating entire income to retirement: Tales from Normal, Mn.: FICTION

Just got the text today from the local retirement planning firm in Normal, Mn., The Billy Bob Retirement Firm, that encouraged all local folk to reserve their entire income to their retirement...that a little austerity in the near term was well worth avoiding starvation in their old age...their logic, was that with the yield on safe investments below 1%, it was important for each and every person of Normal, Mn. to amass at least 2 million dollars in their lifetime so that they would possibly get 20,000 annual income...and given that most of the jobs available in Normal, Mn. are minimum wage jobs, thus it was necessary for them to reserve all of their current income in order to achieve their objective... nice...