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.
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.
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.
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.
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.
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]
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.
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.
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.
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.
