Time and Value of Money

BTUY...aJmg
20 Jul 2022
62

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? 


References 

Reserve bank of Australia inflation calculator
<https://www.rba.gov.au/calculator>

Photo 
<https://pixabay.com/vectors/money-inflation-economy-balloon-6758490/>

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

Write & Read to Earn with BULB

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6 Comments

B
south coast surfer
south coast surfer
now
That’s an interesting article. If I’m honest, I’m of the belief that the actual downturn of the housing industry is going to continue for quite sometime - and come back to where it actually should be… probably somewhere around a 15-20% decrease. So depending on your age, I think your Million dollars will actually end up buying you somewhere, hopefully in that suburb or close to, where you grew up. Good work
A
AKKIIII
now
Time
M
Murlidh
now
It's really very true That the time which goes once, never comes back
Napes
Napes
now
At a guess over the next 3 years it is sure to double again and with inflation increasing it will become more and more Difficult To purchase a house. Great thought provoking article. .