Time and Value of Money

20 Jul 2022

Imagine what 1 million Dollars could buy you in this day and age.

I might be showing my age a little here, but I asked my parents when they were younger what would they do if they won the lottery, back in the 1990s before I was born $1 million was worth much more than it is now.  

So I asked my parents if they had $1 million what would you spend it on?

$1million was a lot of money they said they would buy a house, a car, maybe a rental property and a little for those in need to help those who are less fortunate. 

I thought that $1million would go along way back then. 
I compared $1 million to what I could get now and I would be lucky to by a house in the suburb I grew up. 

To show how much moneys worth has changed over the years according to the reserve Bank of Australia it showed that 2.2 million dollars now was equal to 1 million dollars in 1990s

With rising inflation in times like this what would 1 million dollars look like in 2050? 


Reserve bank of Australia inflation calculator


[2] BULB, 'Write to Earn. Read to Earn' (online, 2022) <https://www.bulbapp.io/>

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