You need $6.5 million today to be a "millionaire" compared to being a "millionaire" in 1971
We all know the dollar loses value every year, but the actual numbers over time are pretty shocking...
If you go back through the last several decades, everyone talked about becoming a "millionaire"!
It was the goal most ascribed to get to in order to indicate they were financially secure and could retire/live on their own terms.
Things like, "oh he's wealthy, he's a millionaire" were commonplace over the last several decades.
Well, things have changed...
In order to be a millionaire in 1971 using today's dollars and purchasing power, you need a lot more than $1 million dollars...
Check this out:
(Source: https://twitter.com/culkin22/status/1372906502130868227/photo/1)
In order to have a million dollars worth of purchasing power today, compared with 1971, you need $6.5 million today!
Wow.
If that doesn't shock you and drive home the idea of why we need bitcoin, well then I don't know what will.
This likely means those hoping to make a million dollars and lift happily ever after need to adjust their goals a lot higher than just a million.
More like $6.5 million...
C'mon bitcoin!
It is depressing in some respects but I look at it a couple of different ways. Our cars and our electronics are getting pretty advanced so for a relatively low amount of money a person is really balling out of control in some respects compared to people in the 70's.
You have a very sound philosophy around cryptocurrencies. I appreciate your write-up. Thanks for sharing.
Steem is having a good run today! Steem will take us there...
Great story you have.