The modern equivalent of a millionaire is.....

[Fedorgasm]

Decades ago if you were a millionaire you were rich.

1 million dollars was the magic number and you were set for life.

But with inflation it got me curious as to what the new cool term was. It's not billionaire, because there's only a few of them in the world. That's still insanely mega rich.

So I looked up the value of 1 million in 1985 vs now and it turns out it's 2.6 million.

So the modern day equivalent of millionaire is, disappointingly, millionaire.

But just know you're not cool until you get 2.6

 

[Get To Da Choppa]

With all the inflation, a millionaire now is a tree fiddynaire decades ago

 

[HeffDoesWant]

Multi millionaire.

 

[Jose Beehive]

If you have 2.6 Milly you'd be a Multimillionaire no?

 

[Cole train]

In here you set with million

 

[facePuncher7]

If you have 2.6 Milly you'd be a Multimillionaire no?

Yeeeah

 

[freakroor]

i remember the 90's kids movie Blank Check where the kid gets a million dollars and he buys so much stuff! It seemed believable at the time but now that's like 10 million dollars worth of stuff.

So i would say 10 million dollars is the modern equivalent to what a milliion dollars used to be.,

 

[Rygu]

Well depends on the decade. You can add a million to that for every decade since like 1990

 

[I Am Legion]

I would be set for life with 3 million take home. That’s 100k after taxes for the next 30 years if I even live that long. Not including a modest 5% return by investments. 1 mil would be nice but I wouldn’t retire. I could, but I wouldn’t.

 

[Osculater]

Millionaire you say? You sound poor!

 

[HindustaniKush]

The governments of the world are surely lying about the true rate of inflation

But I doubt it is double from 10 years ago. I would say its probably 20% higher than all the listed values below

$1 million in 2012 would now be equal to $1.23 million

$1 million in 2000 would now be $1.6 million

$1 million in 1990 would now be $2.13 million

https://www.usinflationcalculator.com/

 

[Two Crows]

You ain't rich until your Scrooge McDuck rich:

 

[Cole train]

You ain't rich until your Scrooge McDuck rich:

You are not rich until you can swim in metal

 

[gonads20]

Kind of fucked up how governments can just decrease the value of your savings.

 

[Alphaboy]

A million dollars ain't sh*t anymore, but it's simultaneously still a lot of money. Nowadays you can probably purchase a house outright (which is no easy feat) and then half of it is gone.

I don't think a new term is needed. Like I said before, money begets money. If you're smart and invest it properly your wealth will increase and you'll be well past a million before long. If you're an idiot of course, and blow it that's a different story.

 

[gspieler]

I guess in today's world, a million dollars is the rough equivalent if a Boise dime.

 

[HindustaniKush]

Decades ago if you were a millionaire you were rich.

1 million dollars was the magic number and you were set for life.

But with inflation it got me curious as to what the new cool term was. It's not billionaire, because there's only a few of them in the world. That's still insanely mega rich.

So I looked up the value of 1 million in 1985 vs now and it turns out it's 2.6 million.

So the modern day equivalent of millionaire is, disappointingly, millionaire.

But just know you're not cool until you get 2.6

Add on another 20% because I swear the Government is downplaying the rate of true inflation. They have an economic incentive to state it is lower than what it may be truly, CPI and other things suggest it is higher than stated but not by 2x

I would assume that $2.6 million should really be more like $3 million today. I think today $3 million is the "new" equivalent of having $1 million in the 90s and having $10 million is the new equivalent of having a few million in the 90s

https://www.google.com/amp/s/www.ny...inflation-worse-pandemic-coronavirus.amp.html

 

[KoreanZawmbie]

Kind of fucked up how governments can just decrease the value of your savings.

Federal reserve aint the government though

 

[StonedLemur]

Millionaire you say? You sound poor!

Can you talk to your bear sir?...his balls are showing lol.

 

[Osculater]

Can you talk to your bear sir?...his balls are showing lol.

The bear needs to cool off his sweaty balls, bro