1 million dollars isn't that much anymore?

Question

When I was little I used to think a million dollar house would be some huge amazing mansion. But now almost everyone I know's house is at least a million dollars and they are nice houses but not how I pictured a million dollar house when I was little.

So is 1 million dollars even that much anymore?

jenni - I live in orange county, ca but not like on the beach or anything

Answer 1

Nope, thanks to inflation. The billions are now the new millions.

Answer 2

It's a relative question; meaning simply that it is relative to ones financial situation. A million is still a lot to those who are not rich, but to those who had a million when a million was a big deal, that million is not the same to those same people now. I make 120K a year, so if I won a mil in the lottery that would only substitute 8 years of my work - I need much more than that to sustain my current lifestyle. But for people who make $8 an hour a mil would be sufficient to sustaing their current lifestyle for awhile.

Answer 3

1 million can be much depending on how you use the money, celebs houses with 15 bedrooms and 5 baths aren't 1 million maybe not even 2 mutli millions more or less. But if the money is used properly (invested in children, stock, or growing sales) it would grow and you'll be suprised, Plus the bills & expenses do add up you know.

Answer 4

I rent an old 2-bedroom house on HUD Section 8 for less than what you put in your gas tank each week : )

I RARELY spend more than 50 dollars on anything and fix it if I need to. I own a CRT projector, 8 old Trinitrons, a Laserdisc player and tons of really inexpensive stereo gear including a rare 120 watt Pioneer receiver for $20 and scour my local world for bargains. My computers are older but I built them and taught myself to do it. I love building my own speakers and I did most of the work repairing a 1969 Philips turntable I own.

I know where you live is not cheap but I think you are looking to the wrong things to describe your plight. Your house doesn't make you happy, you need to go forth and discover why you are happy...

WHO makes you happy?

Isn't it YOU?

Answer 5

Depends who u r in the society. If u r bill gates.. well 1 mil is like 10 dollars to the average person. Consider your home, what type it is, and mortgage if u have one, how much u spend, family members, and how much income you earn. that will possible help determine whether 1 million is much to you.

for me, 1 million is a lot

Answer 6

Where the heck do you live where everyone has million dollar houses? Houses where I live can be as cheap as $250,000.00 for a really nice house, or a normal house on acreage. I think you need to move.

Answer 7

$1,000,000 will go a long way in a very rural area, but close to a big city it won't get much. My house is worth around $600,000 and it's just a moderate 4 bed 2 bath in suburban miami.

Answer 8

it depends where you live. I live in Kentucky, on 5 acres, and in a $250,000.00 house. in California this would be a multi million dollar house

Answer 9

it all depends on how you invest the million dollars. also on where you plan to live. that million can make you more if you know how to use it. i wish i had it. i would have my own business that 's for sure.

Answer 10

As you grew up, so has the inflation.Why don't you raise it say,10 millions, so as to match with your age and inflation?

Answer 11

its a lot but when you think of a mansion they usually cost atleast $2mill these days the amount of a dollar is going down