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Reply to "31% of millionaires think they're middle class"
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[quote=Anonymous]Per the bureau of labor statistics inflation calculator, $1m in September 2023 has the same buying power as $531K in 1998, 25 year ago. That explains a lot I think. $1M today is worth about half of what it was 25 years ago. This is why millionaires don’t feel they are rich. It doesn’t provide what they thought it would. Also, lots of big expenses have more than doubled in the last 25 years, housing and tuitio come to mind.[/quote]
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