blog.lendingclub.com— "Most millionaires drive regular cars that they bought used for less than $25,000, live in modest homes and work in unglamorous industries..."
Nov 27, 2007View in Crawl 4
"Most millionaires drive regular cars that they bought used for less than $25,000, live in modest homes and work in unglamorous industries..."Because inflation has made the term "millionaire" worth a hell of a lot less than it used to mean! Having a million in 1970 is equivalent to having over $5.3 million today!It just burns me when people start talking "millionaire" and don't seem to recognize that it doesn't mean what it used to mean. ("See! The economy is great! We have X times more millionaires than we had in 1970!")
terr01Nov 28, 2007
"Most millionaires drive regular cars that they bought used for less than $25,000, live in modest homes and work in unglamorous industries..."Because inflation has made the term "millionaire" worth a hell of a lot less than it used to mean! Having a million in 1970 is equivalent to having over $5.3 million today!It just burns me when people start talking "millionaire" and don't seem to recognize that it doesn't mean what it used to mean. ("See! The economy is great! We have X times more millionaires than we had in 1970!")