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I saw this yesterday afternoon. Puts some perspective around those saying a million isn’t much or to be given that amount might makes things a “bit” better
I’m really not sure what you are looking for. If you feel a million gift is just a “bit of improvement” you are the one lacking perspective. 1mm is 8x the average net worth in the US and average/median are probably pretty far apart. For most a 1mm on top of whatever they have now is life changing not a “bit better”. For most life changing doesn’t have to mean caviar and wiping your butt with hundreds
It really would be you that needs to explain the perspective and disconnect from basic mathematics
I mean if i was given 10k that would be an improvement for a bit.
I think this thread is the epitome of privilege. Again, if a million dollars is not life improving to people here why not just donate it to charity? If it's really that useless to you or you're going to complain about how little it will do for YOU then you should really donate it to someone who needs it.
I’m really not sure what you are looking for. If you feel a million gift is just a “bit of improvement” you are the one lacking perspective. 1mm is 8x the average net worth in the US and average/median are probably pretty far apart. For most a 1mm on top of whatever they have now is life changing not a “bit better”. For most life changing doesn’t have to mean caviar and wiping your butt with hundreds
It really would be you that needs to explain the perspective and disconnect from basic mathematics
Having $6.8M is a WHOLE lot different than $1M. That engages a different perspective, since at that number one can actually live at a consistently higher level longer term, and yet still have significant investment money in reserve and to grow, to ensure a better life when older/retired.
Having $6.8M is a WHOLE lot different than $1M. That engages a different perspective, since at that number one can actually live at a consistently higher level longer term, and yet still have significant investment money in reserve and to grow, to ensure a better life when older/retired.
The topic wasnt about having 6.8mm so maybe that’s why you are struggling. Also I think most people would say having 6.8 mm is better than 1mm so that’s also not up for discussion. What we were discussing was the impact of getting a million dollars out of no where and what that impact would be. For most people getting a million out of nowhere is life changing at least in my imo. Life changing doesn’t mean no worries, taking the g6 to dinner and buying islands. For most paying off their mortgage or buying a house free and clear, buying a new car in cash and still having hundreds of thousands to invest after that certainly changes your life or most people more than “a bit”
Same article, according to Schwab it takes $774k to feel "financially comfortable" so clearly $1 million would at least give you that achievement. In Mississippi you'd be in the top 1%.
Any way you slice it, $1 million is still a significant amount of money. I bet even Elon would stop and lean down to pick it up in the street.
The topic wasnt about having 6.8mm so maybe that’s why you are struggling. Also I think most people would say having 6.8 mm is better than 1mm so that’s also not up for discussion. What we were discussing was the impact of getting a million dollars out of no where and what that impact would be. For most people getting a million out of nowhere is life changing at least in my imo. Life changing doesn’t mean no worries, taking the g6 to dinner and buying islands. For most paying off their mortgage or buying a house free and clear, buying a new car in cash and still having hundreds of thousands to invest after that certainly changes your life or most people more than “a bit”
You said your perspective changed, and I meant $6.8M is a whole lot different than $1M.
Again, relative change.
$1M will move the poor up to middle class. For how long depends on their money management savvy.
$1M for the middle class will improve things, but not move them up to the upper class. Paying off debt and saving for the future IMO is the most important thing for most people there. But that doesn't change one's current lifestyle much. It does tend to ensure more financial security when older and retired. And that relative lifestyle change could be very significant.
$6.8M should be a significant, ongoing and life long lifestyle change for anyone poor or middle class.
I absolutely did not say my perspective had changed
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and I meant $6.8M is a whole lot different than $1M.
Water is wet
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Again, relative change.
$1M will move the poor up to middle class. For how long depends on their money management savvy.
An individual’s money management skills aren’t relevant to the broader discussion
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$1M for the middle class will improve things, but not move them up to the upper class. Paying off debt and saving for the future IMO is the most important thing for most people there. But that doesn't change one's current lifestyle much. It does tend to ensure more financial security when older and retired. And that relative lifestyle change could be very significant.
So life changing then right?
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$6.8M should be a significant, ongoing and life long lifestyle change for anyone poor or middle class.
But no because they could blow it right? Or is that only relevant/irrelevant when you apply it? We weren’t talking about 6.8 and most understand 1 is less than 6.8.
All stands to reason based on your own words in bold, 1mm dropped out of the sky is life changing for most people
You said your perspective changed, and I meant $6.8M is a whole lot different than $1M.
Again, relative change.
$1M will move the poor up to middle class. For how long depends on their money management savvy.
$1M for the middle class will improve things, but not move them up to the upper class. Paying off debt and saving for the future IMO is the most important thing for most people there. But that doesn't change one's current lifestyle much. It does tend to ensure more financial security when older and retired. And that relative lifestyle change could be very significant.
$6.8M should be a significant, ongoing and life long lifestyle change for anyone poor or middle class.
In my opinion, $1million would improve almost anybody’s life. How much, and for how long, is debatable.
$6.8 million is FU money. Unless you blow the money in a crazy way, that will set a person up for life.
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