To give one idea, nursing home room cost is 100k/year. Considering the possibility of chronic conditions, specialized treatments and overall increase in healthcare usage, in the span between 70-90 it is very easy go over >2M.
My parents put up grandma with Dementia in PA for about $50k a year in nice place. Are you drawing figures from movie star nursing homes in LA or something? Do you think the average American just puts a bullet in their head after 70? The household income in this country is about $60k a year. Your math is ludicrous.