Most of us are familiar with what (your local equivalent of) $10 USD is worth, or $100 or perhaps even $1,000,000.
But larger amounts soon become unrelatable. And with the huge wealth inequality at play, it’s easy to come across stories where something worth hundreds of millions was wasted.
- How much money would it take, under our current systems, to solve various societal problems? (e.g. food shortages, infrastructure fixes, public health efforts, new transport)
- How much did the achievements of various organizations cost?
- What could individuals spend such money on? (luxuries, marketing)
This. 5 million is the new 1 million. That allows you to own a paid off house and retire at a reasonable age without working. 1million doesn’t do any of the bigger picture social change things you mentioned.
“without working??” Wait you lost me. How the hell is someone supposed to live in a $5 million house if they’re not working to earn the $5 million to pay for the house?
I meant retiring and not having a retirement job. I worded that badly - sorry. I know lots of people who are “retired” but still work a part time gig because they can’t afford the things they want in retirement. Which to me, isn’t “retired”.