https://longevity.stanford.edu/wp-content/uploads/2017/05/new-logo2-01-300x107.png 0 0 admin https://longevity.stanford.edu/wp-content/uploads/2017/05/new-logo2-01-300x107.png admin2013-06-10 18:10:232013-06-10 18:10:236/8/2013 - For Retirees, a Million-Dollar Illusion (New York Times)
6/8/2013 – For Retirees, a Million-Dollar Illusion (New York Times)
A million dollars isn’t what it used to be.
In 1953, when “How to Marry a Millionaire” was in movie theaters, $1 million bought the equivalent of $8.7 million today. Now $1 million won’t even buy an average Manhattan apartment or come remotely close to paying the average salary of an N.B.A. basketball player.
Still, $1 million is more money than 9 in 10 American families possess. It may no longer be a symbol of boundless wealth, but as a retirement nest egg, $1 million is relatively big. It may seem like a lot to live on.
But in many ways, it’s not.
Read the full article at the New York Times.