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Originally Posted by Shamou  I fully agree with you that this is how the question should have been formulated... however, not too long ago, a poster who seemed to know what he was talking about was telling us that, if we had any hope of being understood by the average Joe our sentences should not contain anymore than 28 words... yours has 41... |
I actually hadn't heard of that. I don't doubt its validity, but then again, hey, it's a forum called "Personal Development For Smart People Forums", so maybe we don't have to worry about average joes.
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Originally Posted by Shamou However, to get back on topic... fifty years ago, I would estimate that the annual salary was roughly $5,000 and today it would be around $35,000... which is a seven fold increase... so, by that standard, today's millionaires need at least $7,000,000 in order to be considered the "typical millionaire..."
However, after talking with some very "well off" people, I have found that they consider $20,000,000 to be the breaking point to be considered a "millionaire..." |
The people you spoke to are probably right; salary increases being what they may (and they also are affected by other factors, such as the relative bargaining power between capital and labor at a given point in time), there's also the matter of life spans being much longer than what they were 50 years ago. So in the case of the "million" that keeps one nearly free from money worries "for life", both quantities are much different today.