this post was submitted on 11 Nov 2023
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Work Reform

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[–] rockSlayer@lemmy.world 22 points 10 months ago (1 children)

I like to think of $1 billion in terms of how much money you need to spend. Let's say you're given $1 billion at birth, never earn another cent in your life, and live for exactly 75 years. To spend all of that money, you'd need to spend $36,500 per day, every day, for your entire life. Even then, you'd have nearly a million dollars left to pass down to your children.

[–] WalrusDragonOnABike@kbin.social 5 points 10 months ago (1 children)

If you only spent 36,500 a day, you'd probably die far far richer (like, 10s of billions) than you were born assuming you have it invested. You could spend more like 100k a day (adjusting up for inflation) and you'd probably almost certainly die a billionaire.

[–] rockSlayer@lemmy.world 5 points 10 months ago (1 children)

that's exactly why I have to add that you never earn another cent. The easiest way to spend money is to increase personal wealth.

[–] WalrusDragonOnABike@kbin.social 2 points 10 months ago

Billionaires never earn their wealth. Doesn't stop them from accumulating it anyways.