tag:blogger.com,1999:blog-6099051.post944317080497804924..comments2023-06-01T04:54:43.182-04:00Comments on <center>~ The Billy Goat Blog ~ </center>: How the New Million Dollars is the Old One Hundred Thousand DollarsBillhttp://www.blogger.com/profile/17131362642135303406noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6099051.post-20988073494081144872013-10-31T00:24:08.655-04:002013-10-31T00:24:08.655-04:00Bill,
I did some thinking about this back in the ...Bill,<br /><br />I did some thinking about this back in the 80's when I was in my early 20's. I figured that if I ever came upon $1M, I could put it into a simple passbook account at a major bank at 5%, a return of $50k/yr. I could have lived on that.<br /><br />But, I made 7.5% at my credit union, so I would keep the additional 2.5% in my account to make it grow.<br /><br />Another change in our thinking: back then a millionaire was somebody who had a million dollars. Now, it's somebody who makes a million dollars a year. The difference is that our thinking has changed from cash to cash flow. The first athletes to make $1M/yr really weren't "millionaires" in the classical sense of the word because living expenses ate up a chunk, and there wasn't a million left over in cash.Steve Scotthttps://www.blogger.com/profile/10297044571819912511noreply@blogger.com