Amid all the lists over the last few months of the billionaires and millionaires in the U.S. and the world, a thought occured. Used to be that it really meant something to be a millionaire. Still does. But does it mean the same thing, or has billionaire become the level for true perceived richness? Don’t get me wrong, I could be very happy just being a millionaire, but billionaire seems so much higher. 1000 million. That’s something. Bill Gates has 50 * 1000 million. That’s alot.
I think the biggest difference is in what we make in salary/wage. There are people who routinely make upwards of $100,000 a year. That means that they make 1 million in 10 years. It’s a given that they don’t save every penny so they don’t amass a net worth of 1 million in 10 years, but it’s conceivable that it could be done fairly easily in 20 if a decent rate of return could be made. Some sports athletes make millions in one year. A decent rate of return on their money could make them billionaires in far fewer years.
Even with those givens, however, it would still take 20,000 years to amass 1 billion. Compare that to someone who