First, even a million dollars is not that big a deal as in the past, years ago, before our fiat dollar will be inflated higher (with all other world currencies as well). If you could could buy gas for 25 cents per gallon, has received one million dollars a long way, so if you had a million dollars than do just about how you live and ask how you wanted. This is a big part of why the concept of being a millionaire as a synonym for success in business today – for what you paid (in the past anyway).
At that time, one million U.S. dollars was enough money to buy someone financial freedom. According to Wikipedia, a millionaire in 1959 is equivalent to $ 7,300,000 today (and with inflation, increasing the number per second). So if most people are just a few years he has lived through the age of retirement, and when $ 7.3 million (in today’s money), we could see would be more willing to reconsider their whole life if they could just work one million U.S. dollars – millionaire – they would not work and would be able to live the rest of his life in style!
Does it mean a millionaire, you’re rich?
But before 2011, as the gas reached or exceeded $ 4 a gallon in some areas, and it should not take a genius to understand that even with this simple comparison, one million dollars of United States does not go up ‘today. We are happy if we experience hyper-inflation, as they have in Weimar Germany and many other countries have over the years, and $ 1,000,000 will be just enough to get a car, or worse to buy food, would be a millionaire to be considered as poor!
It is important to know when it comes to money, the whole story, and the numbers are what tell the story. Your income – the million dollars – is only part of the story. There are other equally important in the history of lack of the equation …
What is missing in the equation here, for expenses. They all want the amount of money that the focus – the $ 1,000,000. But you focus your energy on a millionaire is at best misleading, as the examples above. Someone who became a millionaire by selling shares in their company or, say, maybe a million, but how long the money? As I have already alluded to 1 million today is not enough to retire, if you plan on living for more than a few years.
For this reason, it is a much better idea about creating wealth, taking into account both income and expenditure, and not just your assets today (which is in an inflationary period nothing anyway) takes focus.