In his excellent recording of The Strangest Secret in 1956, Earl Nightingale tracked the fortune of some 100 individuals who started bright-eyed and busy tailed at age 25.
“By the time they are 65, only one will be rich, four will be financial independence, five will still be working, and 54 will be broke depending on others for life's necessities.”
To attain financial freedom and avoid being poor at retirement, the passive income from your assets must be higher than or equals the income you require to fund your chosen lifestyle.