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06-19-2014, 03:43 PM
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#141
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,495
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 Quote:
Originally Posted by kiki
$125,000 x 4% = $5,000
$1,000,000 x 4% = $40,000
A different perspective, but based on this simple calc, it looks like $125k back then got you a lot further than one million today.
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Maybe not as different as one might think. According to this source Average Salary , the median salary in Dec 2013 was $48,872. Of course, I'm well aware of the difference between median and average but not knowing how the 1959 figure was derived it may very well be that for both periods of time the equivalent of $1 million adjusted for inflation would provide close to the average wage at the proverbial 4% rate.
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06-19-2014, 06:27 PM
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#142
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Thinks s/he gets paid by the post
Join Date: Apr 2006
Location: North Bay
Posts: 1,120
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As others have pointed out, the average standard of living derived from that average income in 2013 was much higher than it was in 1959 (life expectancy, material goods, leisure time, etc).
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06-19-2014, 08:04 PM
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#143
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Full time employment: Posting here.
Join Date: Jul 2005
Posts: 583
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Today, my wife and I just reached the $2MM milestone. We now consider ourselves to have F. U. money - the amount of money that, if our respective bosses pissed us off enough, we can tell them "F. U.". Most people in this country (U.S.) can only dream of having that much. You're darned right we're going to celebrate. Not sure how yet - maybe a super-nice dinner at a super-nice restaurant, or a really outstanding red wine (or both). Or maybe a long weekend at some luxury spa. We'll see.
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06-19-2014, 08:15 PM
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#144
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Recycles dryer sheets
Join Date: Mar 2014
Location: .
Posts: 379
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Vincenzo and wife: You go! 
__________________
“We always may be what we might have been.” -- Adelaide Anne Procter
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06-22-2014, 10:40 PM
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#145
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Recycles dryer sheets
Join Date: May 2013
Location: Kouts
Posts: 58
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We played "If I had a million dollars" by BareNaked Ladies and drank a Bud Light. Looking for a repeat performance soon.
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06-22-2014, 11:11 PM
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#146
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Full time employment: Posting here.
Join Date: Mar 2004
Location: No Where for Very Long
Posts: 769
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Quote:
Originally Posted by Andre1969
Heck, my Granddad was only making $6/hour when he retired from the railroad in 1974, with 34 years of service in!
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In 1974 I was fresh out of the Army, making $3.20 per hour at the electric company. First class linemen were making around $7.00- and I thought they were fabulously well paid, especially when they received over time pay 
__________________
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06-23-2014, 01:59 AM
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#147
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Recycles dryer sheets
Join Date: Apr 2014
Posts: 180
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Its all relative.
I am a billionaire many times over in the local currency where I live.
I just went to the ATM and withdrew 5,000,000 in cash to pay my driver and maid their monthly salary.
Buy I don't feel rich - Its all relative.
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06-23-2014, 08:22 AM
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#148
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Full time employment: Posting here.
Join Date: May 2013
Posts: 605
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I bought a $10 calculator to celebrate my attainment of 7 figure status.
__________________
Saved 8 figures by my mid-40's as a professional bubble-spotter. Beware...the Fed creates bubble after bubble after bubble.
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06-23-2014, 06:10 PM
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#149
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,495
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Quote:
Originally Posted by Aus_E_Expat
Its all relative.
I am a billionaire many times over in the local currency where I live.
I just went to the ATM and withdrew 5,000,000 in cash to pay my driver and maid their monthly salary.
Buy I don't feel rich - Its all relative.
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Well, if you can afford a driver and a maid I would say you definitely qualify as rich in whatever currency!
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06-24-2014, 05:04 AM
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#150
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Thinks s/he gets paid by the post
Join Date: May 2007
Posts: 1,207
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Quote:
Originally Posted by Aus_E_Expat
Its all relative.
I am a billionaire many times over in the local currency where I live.
I just went to the ATM and withdrew 5,000,000 in cash to pay my driver and maid their monthly salary.
Buy I don't feel rich - Its all relative.
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A driver and a maid and you don't feel rich? What does it take for you to feel rich a private plan with a dedicated pilot?
If you lived in the US that would certainly feel rich granted that it requires much more to do that here.
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06-24-2014, 05:35 AM
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#151
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Recycles dryer sheets
Join Date: Apr 2014
Posts: 180
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Everyone here has a maid and usually a driver - it is to be expected.
The car is a basic Nissan sedan - not a Mercedes or BMW.
A private plane and pilot would be nice - but I think unnecessary in my case.
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06-24-2014, 06:36 AM
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#152
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,481
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Quote:
Originally Posted by Aus_E_Expat
Everyone here has a maid and usually a driver - it is to be expected.
The car is a basic Nissan sedan - not a Mercedes or BMW.
A private plane and pilot would be nice - but I think unnecessary in my case.
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The maid makes sense, but a driver? What country do you live in?
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06-24-2014, 03:51 PM
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#153
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,042
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Geez so many party poopers here with their "$1M is nothing to celebrate" ask someone who's trying but not even half way there yet...and approaching 40 already 
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