Being a millionaire is overrated…Becoming a “millionaire” once meant being set for life…[and] destined for early retirement…[but] that was then, and this is now. Today’s infographic from Carson Wealth shows how things have changed over time, and that a million dollars of wealth ain’t what it used to be.
The comments above and below are excerpts from an article by Jeff Desjardins (VisualCapitalist.com) which may have been enhanced – edited ([ ]) and abridged (…) – by munKNEE.com (Your Key to Making Money!) to provide you with a faster & easier read.
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Time magazine recently estimated that for a millennial with 40 years until retirement, $1 million in savings is not likely sufficient. Taking into account 3% inflation over that time period, it would be worth just $306,000 in today’s dollars. That’s a pretty questionable nest egg for a “millionaire”.
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