The Moving Target: Why $1 Million Doesn’t Mean What It Used To
To buy what $1 million bought in 1960, you’d need about $11.3 million today. The word millionaire was never a fixed amount — here’s how far the ruler has moved, and how to read it.
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Time: Millionaires of 1900
In 1900 a million dollars in bonds paid about $31,800 a year — roughly 76 times what the average American worker earned, and untaxed by the federal government. What the threshold actually meant.
