This is something I’ve been saying for years. People use Inflation Adjustments that show that, say $1 million in 1970 is $10 million today But the reality is that $1 million in 1960 was a vast fortune that would purchase a Manhattan townhouse, a few super cars, and a dozen small businesses. $10 million today will buy you a decent life, but not staggering wealth.
This is something I’ve been saying for years. People use Inflation Adjustments that show that, say $1 million in 1970 is $10 million today But the reality is that $1 million in 1960 was a vast fortune that would purchase a Manhattan townhouse, a few super cars, and a dozen small businesses. $10 million today will buy you a decent life, but not staggering wealth.