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Newspapers so often bandy about the million unit that readers can get inured to its true significance. But if at the stroke of midnight on New Year’s Day you we
by jgrahamc 11y ago
Newspapers so often bandy about the million unit that readers can get inured to its true significance. But if at the stroke of midnight on New Year’s Day you were lucky enough to get one pound coin every single second, it would still take 114 days to amass £10m. You would even now be waiting till Sunday week to collect the whole amount.
I have a very hard time imagining that. Surely it would be better to describe what having £10m would allow you to do.
- zeeZ 11y agoYou and a 130 other people could eat a £1 cheeseburger three times a day for the rest of your lives.
- saiya-jin 11y ago3 cheeseburgers a day would make the rest of their lives a rather short period for those unfortunate 130 ones
- zeeZ 11y agoI guesstimated using the 66 years WolframAlpha spat out, while Google (sourcing World Bank) has 81.5 years (2012) with a more or less steady increase. Let's just say WA was smart enough to factor all that in. Edit: Google data is for UK, because currency used in parent.
- JoeAltmaier 11y agoActually, forever, because interest?
- eterm 11y ago£10m is 715 years working 40 hours a week at the minimum wage. Before tax.
- suvelx 11y agoThe best explanation for the super rich I've had is something along the lines of: (Hoping my numbers are right) If you make $30,000 a year, an xbox costs 1% of your income, and a loaf of bread costs 0.001% of your income. For the super rich, with a yearly income of $3,000,000. Teslas's Model 3 would cost ~ 1% of their income, and an xbox 0.01%. Add/Remove examples and values, or switch to 'savings', to suit your target wealth perspective.
- mikeash 11y agoI think this understates it, because necessities take up less of your income, proportionally, as you go up. That person making $30,000/year probably has to save for months or go into debt to buy an Xbox, while the rich person can probably pay for the car up front and hardly even notice it.