Friday, November 29, 2013

Who Wants To Be A Millionaire?

Current Dollars For Millionaires Of Various Eras

How much would you need to have today to live like a millionaire in 1920? Over 10 million dollars, according to the chart1. On the other hand, a millionaire in 1980 would only need a bit less than 1.2 million dollars today to live in comparable luxury.

  1. Obviously, any comparison of income over such a long period can be only a rough and ready guide, not an exact function yielding precise results suitable for the application of the the differential calculus. The Bureau of Labor Statistics (BLS) provides information on how the Consumer Price Index (CPI) is computed and how the components in a typical consumption basket changes over time.

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