$24.8 million using the consumer price index, $61.4 million using the gold price
I’d say do it with housing price but I don’t think they’ve invented that number yet
Comment on Hope his set doesn't bomb
Skullgrid@lemmy.world 3 weeks agoFuck it man, I’m doubling down.
en.wikipedia.org/wiki/Millionaire#Historical_wort…
Depending on how it is calculated, a million US dollars in 1900 is equivalent to $37.8 million (in 2024):[18] $24.8 million using the consumer price index, $61.4 million using the gold price[19]
Being a millionaire doesn’t mean shit anymore. It means you own a house in a city and are a well paid professional.
If the fucking Crown Prince of Saudi Arabia wants me to personally whitewash his terrible regime, he better get me eight figures at least. Otherwise it’s blood soaked chump change these days.
bitjunkie@lemmy.world 3 weeks ago
UltraGiGaGigantic@lemmy.ml 3 weeks ago
A million invested could mean about 40k a year in passive income
bitjunkie@lemmy.world 3 weeks ago
What dogshit investment only pays 4%? Until the recent Fed rate change I was getting more than that on a savings account. Index funds have been consistently yielding 15-25% YOY.
boonhet@sopuli.xyz 3 weeks ago
Okay, this is going to be a completely off topic rant, but:
That is an incredibly privileged thing to be able to say tbh.
It’s also why any young-ish American complaining they’re poor should shut the hell up. I’d be on track to becoming a millionaire if I was allowed to do my job in the US. But the country doesn’t want me, I’m too white to even consider an H-1B, those all go to Indian folk lol
In my country, to become a millionaire, I need to set up a business, scam people, and do tax evasion. Because the salaries in my field are at LEAST 5x lower. Remember when the big tech companies hired people out of boot camps and gave them 200k annual salaries? Those guys would’ve gotten hired at 1200-1500 a month here at the same time.
Ah, but since our salaries are lower, cost of living must be low too? Nope, actually cost of living in a nice and “cheap” American city like San Francisco is only 50% more than CoL in our capital.
I would’ve given a lot to spend my 20s being a software engineer in the US and then fuck off to a country with a nice climate, good healthcare and low cost of living before any actual need for the healthcare kicks in. Just wasn’t in the cards for me though.
Skullgrid@lemmy.world 3 weeks ago
how? I’m pointing out the financial situation has gone to such shit that having a house and a profession that pays what a profession is worth would make you a millionaire.
Note that I’m not saying that all professionals are millionaires or own houses; which is the fucked up part. No one is paying what things are fucking worth.
boonhet@sopuli.xyz 3 weeks ago
8.5% of Americans are millionaires. There are a few countries even higher than that, but in general, it’s significantly higher than most places in the world.
Put it this way: More than 50% of the entire world’s millionaires (in USD of course, not local currency) are Americans. But Americans are only ~4% of the world’s population.
It really is the land of opportunity IF you’re a professional doing… something.
Skullgrid@lemmy.world 3 weeks ago
ok, so why are you busting my balls? I don’t own a house , nor do I live in the US. Why are you saying I’m privilaged for pointing out that my fucking meager existence wouldn’t be all that impressive even if I was a millionaire, and that these fucking US comedians are undercharging the saudi pricks for the whitewashing they are doing?