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Who here is a millionaire?

Messages
1,184
Location
NJ/phila
A million isn't what it used to be. Let me prove it.

If you take a million dollars to the bank and ask to invest it do you know what you get? About 2 1/2 % on a GIC or CD.

Do you know what 2 1/2% of a million dollars is? $25,000 a year.

When you see someone who makes $500 a week do you say "that person has a millionaire's income"? Because that is what it is.

PS I have a million dollar net worth and it's a struggle to get by, no kidding.

Thats because your accountant is robbing you. Your not actually getting 25k per year on your investment. The IRS is taking 10-12% of that money. You actually would be better off buying vintage fedoras, wearing them for a spell, then selling them for a small profit.


What do I say to a person making $500.00 per week? Thats easy, thank you for delivering my paper everday young man/young lady.

Best regards

CCJ
 

1961MJS

My Mail is Forwarded Here
Messages
3,343
Location
Norman Oklahoma
Hi

I did hear about a guy who poured Old Crow into the Chivas Regal bottle. I'm guessing all of his friends did too, or they'd have noticed the difference.

Later
 

Stanley Doble

Call Me a Cab
Messages
2,808
Location
Cobourg
Hi

Actually, my Mom will pretty much kill for 2.5%. I'm refinancing my house for 2.75%. Our CD's are at 0.75%. That's 7500 a year or 625 a month.

Don't pay to be rich anymore.

later

A million dollars does not make you rich anymore, that's the point. Thanks to inflation, a million dollars today is worth about $30,000 in 1912 money.
 

Stanley Doble

Call Me a Cab
Messages
2,808
Location
Cobourg
It is a trite curiosity often seen in my world (trust banking), that many who live large lack the means and many who live modestly, are quite well off. Some of that owes to the peculiar demographics of our city.
The one shared characteristic is that they recognize that it is seldom in their best interest to admit their true means.

That is the way it was here in small town ville when I was a kid and still is to a certain extent. Those who had the money drove Buicks and Chryslers. There were a few Cadillacs, all bought used by small businessmen and shopkeepers.

There was one exception. The local Chev-Olds-Cadillac dealer who was a member of a very rich influential family bought a new Cadillac every year - for his mother. He drove an Olds 98 himself.

Flaunting your money was tacky and in bad taste. It was taken for granted that anyone who drove a Cadillac and generally acted rich, was too slick, a gouger who made too much profit, a show boat who was putting up a front or possibly all 3 - in any case a person of no substance who was not to be trusted. No one would be so foolish as to do business with such a person.
 

LizzieMaine

Bartender
Messages
30,733
Location
Where The Tourists Meet The Sea
A million dollars does not make you rich anymore, that's the point. Thanks to inflation, a million dollars today is worth about $30,000 in 1912 money.

Of course, if you had $30,000 in your bank account in 1912, you would be considered rich -- considering the average person made do on about $500 to $750 a year.

I know a number of truly wealthy people -- we have a lot of old-money New England WASPs with summer places around here -- and they are, without exception, extremely diffident about showing their wealth. They go around in threadbare old sweaters, wrinkled khaki pants, seersucker sport coats that hang on a hook on the porch all winter, and faded Mr. Rogers sneakers.

On the other hand, the summer people who swank around in visibly-labeled designer clothes, jewelry, and expensive shoes are, without any exception I have seen, middle-class parvenus. You can tell them apart at the slightest glance.
 
Last edited:
A million dollars does not make you rich anymore, that's the point. Thanks to inflation, a million dollars today is worth about $30,000 in 1912 money.

Figuring that today you could buy only about 625 ounces of gold for a million dollars while in 1912 you could buy 48,379 ounces of gold in 1912 with a million dollars. That is quite a difference! Only over 77 times more.:eusa_doh: $77,000,000 sounds better that is for sure. :p
 

davidraphael

Practically Family
Messages
791
Location
Germany & UK
I'm no millionaire. Let's put it this way: I found an advert in a 1920s film magazine promising screenwriters a minimum, named price for their work.

.....And it's more than I earn from screenwriting the best part of a century later....
 

Big Bertie

Familiar Face
Messages
79
Location
Northampton, England
Flaunting your money was tacky and in bad taste. It was taken for granted that anyone who ... generally acted rich, was too slick, a gouger who made too much profit, a show boat who was putting up a front or possibly all 3 - in any case a person of no substance who was not to be trusted. No one would be so foolish as to do business with such a person.

I think I can see what you're getting at ...;)

(I agree by the way.)
 
Messages
10,523
Location
DnD Ranch, Cherokee County, GA
How does that old saying go? I've spent a fortune on fast horses, loose women & good liquor & the rest I wasted....
According to the tax digest, I am ranked in the "wealthy" that the politicians want to raise taxes on but I'm still budgeting pay check to pay check. Rich folks don't have to do that in my definition of rich.
 

1961MJS

My Mail is Forwarded Here
Messages
3,343
Location
Norman Oklahoma
A million dollars does not make you rich anymore, that's the point. Thanks to inflation, a million dollars today is worth about $30,000 in 1912 money.

I know Stan, I have a bad tendency to be sarcastic. I have to to some Photoshop work, I took a picture of my Mom's Bank's current interest on CD's etc. I'll post it when I get a chance.

Later
 
Messages
13,193
Location
Orange County, CA
How does that old saying go? I've spent a fortune on fast horses, loose women & good liquor & the rest I wasted....
According to the tax digest, I am ranked in the "wealthy" that the politicians want to raise taxes on but I'm still budgeting pay check to pay check. Rich folks don't have to do that in my definition of rich.

"Rich" merely means someone has a dollar more than you do. :p
 

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