One million a year is not that much, if you live in NYC. Various taxes sum up to about half of that: 330k Federal, 70k State, 40k City, 30k FICA [1]. Health insurance plus copays, a few more 10s of ks. Then there's real estate. Either you rent, or you buy. Rent for a family of 4 in Manhattan, next to a good public school can easily be >10k/month. If you buy, a 3bdr appartment in a similar zone is >$2.5MM, the mortgage plus taxes and common charges are easily >15k/month. Let's say you manage to put aside 200k/year and you want to retire after 3 years of work. If you are about 30y old, your life expectancy is about 52y [2]. That will buy you an annuity of about $22k/year [3] (assuming a 3% annual growth rate). That is far, far from "never have to work again, and pursue your passions in life".

[1] https://smartasset.com/taxes/new-york-tax-calculator#aYosnz0...

[2] https://www.ssa.gov/cgi-bin/longevity.cgi

[3]https://www.bankrate.com/calculators/investing/annuity-calcu...