See https://publications.credit-suisse.com/tasks/render/file/?fi... - p35 is particularly relevant in this conversation.
The charts you reference are for wealth, not income. The chart on page 36 suggests about a 1/8 chance for a reduction in pyramid tier and about a 48% chance for an increase in tier. (Now, that's also a blended chart, but I don't see anything particularly dire in that data for North Americans.)
Being born during the middle or late-middle of the 20th century was extremely lucky if you managed to stay out of manufacturing and could put your retirement into funds that came close to matching public markets. A lot of people doubt we'll ever see that kind of economic growth in the first half of the 21st century.
Don't under-estimate the impact of three-four decades of financially comfortable retirement on "living standards".