A million is easy to think about and honestly disappears pretty quickly compared to a billion. Between student debt, medical bills, private debt of various types, I’d eat up 100K in an afternoon alone. Then buying house somewhere else I’d like to live would take a huge chunk out of that. I’d have a much better setup than I do now but it’d be gone within a few years.
If we’re talking other countries we need to adjust to prices in other countries, ones that don’t have student debts and medical bills to worry about. If I get analogue of a million bucks in my currency, I wouldn’t have to sweat how much of that I will have to give up because I had bad cold 10 years ago. It’s a different world, so it’s a different million
The context (actual) was that for some people million is not that big sum of money, and for some it is, and without grounding it to a concrete situation, abstract million doesn’t really make sense.
I heard that when I was a kid, and it may have been true then. There’s no way this is true anymore. It would mean you make an average of under 30k per year for your working life. True for some I’m sure, but no way it’s most. A billion tho…
30k a year is a good salary in most European countries. In most other parts of the world that’s being rich. My statement stands true: one million is more than a lifetime of work for most people in the world.
A million is easy to think about and honestly disappears pretty quickly compared to a billion. Between student debt, medical bills, private debt of various types, I’d eat up 100K in an afternoon alone. Then buying house somewhere else I’d like to live would take a huge chunk out of that. I’d have a much better setup than I do now but it’d be gone within a few years.
One million is more money than most people earn in a lifetime of work.
Median income in California is around 95k yearly, which means you get your million after 10 years of work
World average income is 10,000$ per year.
https://www.bbc.com/news/magazine-17512040
If we’re talking other countries we need to adjust to prices in other countries, ones that don’t have student debts and medical bills to worry about. If I get analogue of a million bucks in my currency, I wouldn’t have to sweat how much of that I will have to give up because I had bad cold 10 years ago. It’s a different world, so it’s a different million
Yes, economists do that, we all are aware
Well, in this conversation we aren’t. We compare a million dollars in context of the US, and a salary on the other side of the world.
Yes, that’s what we’re doing. You might not be doing that but then you’re replying to the wrong comments.
Did you lost the context already? Come on, we’re only like 6 short comments deep at this point, it’s not that complicated.
Most people don’t live in California.
Most people don’t have medical bills or student debts to worry about, so potato potato
What does that have to do with income?
What does spending your money has to do with getting your money? Oh, I don’t know how to answer this conundrum.
Me neither when the context was that most people don’t earn a million in their lifetime.
The context (actual) was that for some people million is not that big sum of money, and for some it is, and without grounding it to a concrete situation, abstract million doesn’t really make sense.
I heard that when I was a kid, and it may have been true then. There’s no way this is true anymore. It would mean you make an average of under 30k per year for your working life. True for some I’m sure, but no way it’s most. A billion tho…
30k a year is a good salary in most European countries. In most other parts of the world that’s being rich. My statement stands true: one million is more than a lifetime of work for most people in the world.
Median salary in EU is 39k. 30k will be a bad salary for most people in most European countries.
That is before taxation.
Fair enough. 30k netto seems to be closer to a median then.
It demonstrably is not. The average over a lifetime was 1.7M in 2023.
Mean average maybe, what about median?
Where does your average come from?