Of course I'm being extreme. But this article is about preserving wealth and why kids can't preserve wealth. Too often people spend themselves into debt. This is why so many professional athletes go broke. With the incomes they make, they should be set for life--provided they invest properly and not spend ridiculous amounts.

I myself do not go crazy on spending but we live a comfortable life. We have a 3 bedroom home in a posh part of Vancouver. We don't have a McMansion. We drive a 5 year old luxury SUV. We don't drive new 100K cars every year. We also bike and take the bus/transit when it's convenient. 
Of course most people cannot just live on their dividends. But this article is again about wealthy folks who by definition have income generating assets. If you have 2 million in investable assets that should generate significant dividend income, about 50K a year. This, in addition to income you earn from work, should more than be enough for a comfortable life.