Congratulations to those of you, who have a net worth of one million dollars. Don’t be misled into believing that you’re rich, you’re more likely middle class.
In the late 1900’s, during the great depression, people with one million dollars were classified as rich. This standard for wealth was such a popular topic that the song, “I MET MY MILLIONAIRE BABY IN THE FIVE AND TEN CENT STORE,” was on the hit parade and the movie, “HOW TO MARRY A MILLIONAIRE,” was hugely successful at the box office. At the same time, in 1930, Babe Ruth, the outstanding baseball player of the era, broke the annual salary record by earning $80,000.00 and at the same time coke was a nickel. In 2008, the highest paid baseball player is Alex Rodriguez, whose salary is $25,500,000.00 per year and a coke is $1.07.
If we take the comparison of Ruth’s salary of $80 thousand per $1 million dollars to Rodriguez’s salary of $27.5 million as 2008’s adjusted rich standard, it would be $343.750 million. If we use the price of coke as the comparison, the result is $21.4 million in today’s dollars to be called wealthy. Either way, the inflation factor over almost 8o years makes current single digit millionaires economic middle class at best.
Tags: 1930, Alex Rodriguez, Babe Ruth, baseball player, great depression, How To Marry A Millionaire, I Met My Millionaire Baby in the Five and Ten cent Stor, inflation factor, middle class, rich, salary, wealthy
July 5, 2008 at 8:54 pm
Interesting article. Wanted to share this with you. When I was 16 a wealthy man I worked for educated me on a universal law, the law of attraction. He taught me that there is a perpetual cycle of giving and receiving that runs our universe, in order for you to receive you have to give and give gifts. The more you give the more you receive. Cash is the best gift and everyone has the right to give. That day changed my life, the day I realized I had the right to give.
It is owed to this principle, why so many who are poor can never seem to receive in abundance. They are too focused on their expenses and getting by day-to-day to give the necessary attention to giving. It is also by this principle why the wealthy and those with high net worth are always receiving in abundance because they are always giving in abundance. I chose to associate myself with that line of reasoning and with other millionaires of like minds.
On June 1, 2008 I joined the Millionaires Gift Club. The Millionaires Gift Club consists of millionaires and aspiring millionaires who wish to maintain the perpetual viral cash flow of giving moderately and receiving massively. You can participate at $1000, $2500, $5000 or $10,000 thus gifting into the program is extremely affordable. It was given to me and now I must share that invitation with you! Consider it paid forward.
Take care,
Alex
http://www.MillionairesGiftClub.com