1. mugen shiyo
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    mugen shiyo Contributing Member

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    Is 1 Million Dollars Still A Lot Of Money?

    Discussion in 'The Lounge' started by mugen shiyo, Sep 23, 2011.

    Do you think $1,000,000 is still a lot of money today?
     
  2. Lemex
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    Lemex That's Lord Lemex to you. Contributor

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    Depends. If I was buying food for myself I'd be happy. If I was buying food for a whole country it just will not cut it.
     
  3. Pallas
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    Pallas Contributing Member Contributor

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    I'll take if you don't want it; man I could buy a lot of folding bikes with that.

    I won't see a million if I live to be a million.
     
  4. Banzai
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    Banzai One-time Mod, but on the road to recovery Contributor

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    Yes.
     
  5. TheSpiderJoe
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    TheSpiderJoe Senior Member

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    Depends on your imagination.
     
  6. Quezacotl
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    Quezacotl Contributing Member

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    It can be more if you invest it.
    I mean, there's obviously no such thing as a recession. Obviously the market can only go up, silly.
     
  7. mugen shiyo
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    mugen shiyo Contributing Member

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    :) I meant personally, Lemex. Though you make me wonder what the worlds smallest country is now.

    @ Quez, Investing...yikes. I don't think I have the proper money sense to dive into that. If I did invest in something it should probably be debt or poverty. That seems to be going up these days.
     
  8. Mercurial
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    Mercurial Contributing Member Contributor

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    Well, if it doesn't mean much to you, have a million or two to spare me?
     
  9. Tesoro
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    Tesoro Contributing Member Contributor

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    To me it would be, and it's definitely more than 1 million SEK... :) I'd take them!
     
  10. minstrel
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    minstrel Leader of the Insquirrelgency Staff Supporter Contributor

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    It's a lot of money, but these days it's not really enough to retire on comfortably for a lot of people. If a 20-year-old won a million in a lottery (after taxes), he wouldn't be able to life well off that for the rest of his life. He'd still need a job if he wanted to own a home in the USA and raise kids.

    Being a millionaire isn't what it once was. A cup of coffee used to cost a dime and now it costs $4.95 or more. That kind of thing makes it hard to make a million dollars last.
     
  11. mammamaia
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    mammamaia nit-picker-in-chief Contributor

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    depends on who's got it and what they'll want to do with it...

    it's a drop in the ocean if you're a penniless altruist who wants to change the world, but more than enough, if you're a simple-living soul and want it to support you modestly, while you write full time and work on getting published...

    it's a pittance to a billionaire and a fortune to a homeless street person...

    in other words, it's neither a lot nor a little and it's both a lot and a little...

    [and i should know, since in my 'old lives' i was a divorced mom of 5 on welfare, getting no child support or alimony and later, as a mom of 7, was the wife of a minor multi-millionaire... am now that near-penniless altruist who'd love to change the world, if i could]
     
  12. CMacgregor93
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    CMacgregor93 Member

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    If it was given to me, It would be enough to live on, for a while that is ;)
     
  13. Hawwyboo
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    Hawwyboo Member

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    I don't know about the USA, but in the UK about 24,000 people earn over £500,000 per year ($1,000,000 converts roughly to £650,000). That's something like 0.3% of the total British population. Meanwhile over 10% of the population earn no more than £12,000 per year (less than $20,000). On an income of $20,000 per year it would of course take fifty years to earn $1,000,000. In the UK, therefore, $1,000,000 could sustain a person for nearly a lifetime without any extra income, though you would have to strictly budget yourself and you'd probably have to live in a grungey old flat next door to some petty chronic shoplifters. However in many parts of the world living expenses are much less, you could probably buy a nice property with a couple of acres and grow your own food, never having to worry about paying for food ever again.
     
  14. Cogito
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    Cogito Former Mod, Retired Supporter Contributor

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    Is one milion dollars more than you have? More than ten times what you have?

    If, like most people, your answer to both those questions is "yes", then a million dollars is most assuredly a lot of money.

    Is a million dollars much money to Bill Gates? or to Warren Buffett? I don't know. I suspect even they would be unhappy to see a million dollars simply vanish. But you'd have to ask them.
     
  15. heyitsmary
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    heyitsmary Member

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    Not really. At least not as much as it used to be.
     
  16. Gigi_GNR
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    Gigi_GNR Guys, come on. WAFFLE-O. Contributor

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    Depends how you spend it, and who you spend it on.
     
  17. psychotick
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    psychotick Contributing Member Contributor

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    Hi,

    Here in New Zealand its enough to buy a nice house and maybe spend a few idle years living in it doing absolutely nothing. Is that a lot? Its more then having a mortgage and working every day to pay it off.

    Cheers.
     
  18. CULLEN DORN
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    CULLEN DORN Member

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    Depends. If for a day or three, perhaps. For a lifetime, no.
     
  19. mugen shiyo
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    mugen shiyo Contributing Member

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    It's definitely a lot. $50,000 is a lot to me. Considering the average person earns 30 - 50,000 dollars a year, that's at least twenty years of work. Most people would agree twenty years is a long time to toil.
     

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