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Check this out......
http://www.moneyvista.com/news/news-articles/average-brit-to-make-a-million-by-age-56/?utm_source=taboola

Soon, I will be considerably richer than yoaw........

500 Internets to whoever gets the quote.......

Seems about the same in the US. I'll probably do it by the time I'm in my mid 50's. I'm figuring a million in pounds, if it's dollars it'll be much earlier then that.

You'll just spend most of that.

By the time I am 56 £1 Million will probably buy a loaf of bread.

Palindrome wrote:
By the time I am 56 £1 Million will probably buy a loaf of bread.

This reminds me of an article I read about some nation in Africa where the value of their money is so low that a trip to the store to buy some basic food stuffs costs millions of their dollars. They are already saying that by the end of this year gas in America will be over $5.00 a gallon and it will be the norm.. Hell in just the last 3 years my grocery bills have nearly doubled due to the price of food going up so much. But thats ok because I am a federal employee and we have been under a pay/hiring freeze for most of that, oh wait lol.

I have 36 years to increase my current funds by £999,850.

Challenge accepted.

Sod the million, I accidently 30millon already.

 Mr. Burning wrote:
Sod the million, I accidently 30millon already.

I accidentally your monies.

Given than 80-90% of everything you earn goes on every day costs, that is kind of like saying that by the age of 65 you will have travelled x million miles because of the movement of the earth about the sun and the sun through the universe... it means absolutely sod all to you.

Though it kind of puts into perspective those people who are taking home a million plus pounds a year. How is a year of their time worth a normal persons entire working life?

IronWarLeg wrote:

Palindrome wrote:
By the time I am 56 £1 Million will probably buy a loaf of bread.

This reminds me of an article I read about some nation in Africa where the value of their money is so low that a trip to the store to buy some basic food stuffs costs millions of their dollars. They are already saying that by the end of this year gas in America will be over $5.00 a gallon and it will be the norm.. Hell in just the last 3 years my grocery bills have nearly doubled due to the price of food going up so much. But thats ok because I am a federal employee and we have been under a pay/hiring freeze for most of that, oh wait lol.

I heard something quite interesting about the Weimar German Republic. During the 20s, inflation was so bad that:
- When someone left a suitcase full of money on the road, the thief took the suitcase and left the money;
- The Reichmark notes were so useless that they were used as kindling for the fire and
- Union leaders had to negotiate a wage at the start of the day and re-enter negotiations by lunchtime for a higher wage!

 ExNoctemNacimur wrote:
I heard something quite interesting about the Weimar German Republic. During the 20s, inflation was so bad that:
- When someone left a suitcase full of money on the road, the thief took the suitcase and left the money;
- The Reichmark notes were so useless that they were used as kindling for the fire and
- Union leaders had to negotiate a wage at the start of the day and re-enter negotiations by lunchtime for a higher wage!

From an article on the subject.

IronWarLeg wrote:

Palindrome wrote:
By the time I am 56 £1 Million will probably buy a loaf of bread.

This reminds me of an article I read about some nation in Africa where the value of their money is so low that a trip to the store to buy some basic food stuffs costs millions of their dollars. They are already saying that by the end of this year gas in America will be over $5.00 a gallon and it will be the norm.. Hell in just the last 3 years my grocery bills have nearly doubled due to the price of food going up so much. But thats ok because I am a federal employee and we have been under a pay/hiring freeze for most of that, oh wait lol.

It was probably Zimbabwe. Zimbabwe has a few issues.

Angola is pretty bad -a grocery shopping trip runs in the thousands- but not quite as bad as that.

 ExNoctemNacimur wrote:

IronWarLeg wrote:

Palindrome wrote:
By the time I am 56 £1 Million will probably buy a loaf of bread.

This reminds me of an article I read about some nation in Africa where the value of their money is so low that a trip to the store to buy some basic food stuffs costs millions of their dollars. They are already saying that by the end of this year gas in America will be over $5.00 a gallon and it will be the norm.. Hell in just the last 3 years my grocery bills have nearly doubled due to the price of food going up so much. But thats ok because I am a federal employee and we have been under a pay/hiring freeze for most of that, oh wait lol.

I heard something quite interesting about the Weimar German Republic. During the 20s, inflation was so bad that:
- When someone left a suitcase full of money on the road, the thief took the suitcase and left the money;
- The Reichmark notes were so useless that they were used as kindling for the fire and
- Union leaders had to negotiate a wage at the start of the day and re-enter negotiations by lunchtime for a higher wage!

The children also made kites out of the notes
And you had to watch the price of bread increase while you queued for a loaf

 Mr. Burning wrote:
Sod the million, I accidently 30millon already.

Arghhh! I've been waiting to use that for so long, but you beat me to it!

 rubiksnoob wrote:

 Mr. Burning wrote:
Sod the million, I accidently 30millon already.

Arghhh! I've been waiting to use that for so long, but you beat me to it!

Truly it was a great usage...

Not that being a millionaire has ever really been that well defined, but it certainly never meant 'earned a million dollars over the course of your working life'. Early on it generally meant people who had a million in assets, though with inflation that came to mean a lot of people, so most people now will use it either to mean someone who makes a million in a year, or just generally to mean someone who's really rich.

I mean, in Australia right now most middle class people will earn somewhere between 80,000 to 100,000 a year, which means over the next 10 years they'll earn a million. But they sure aren't millionaires.

 Goliath wrote:
It was probably Zimbabwe. Zimbabwe has a few issues.

A while ago I thought it'd be fun to get some Zimbabwean currency, but it turned out none of the money changers carry it. This was because Zimbabwe actually outlaws general trading of their currency, to stop currency speculators devaluing it

You can still get some of it on ebay though. I am a 300 trillionaire.

I can confirm that Zimbabwe has issues. Bought this at a charity auction since their money is so useless someone is selling these on Ebay for about 5 CAN and donating the money (so they say)

 Hlaine Larkin mk2 wrote:

 ExNoctemNacimur wrote:

IronWarLeg wrote:

Palindrome wrote:
By the time I am 56 £1 Million will probably buy a loaf of bread.

This reminds me of an article I read about some nation in Africa where the value of their money is so low that a trip to the store to buy some basic food stuffs costs millions of their dollars. They are already saying that by the end of this year gas in America will be over $5.00 a gallon and it will be the norm.. Hell in just the last 3 years my grocery bills have nearly doubled due to the price of food going up so much. But thats ok because I am a federal employee and we have been under a pay/hiring freeze for most of that, oh wait lol.

I heard something quite interesting about the Weimar German Republic. During the 20s, inflation was so bad that:
- When someone left a suitcase full of money on the road, the thief took the suitcase and left the money;
- The Reichmark notes were so useless that they were used as kindling for the fire and
- Union leaders had to negotiate a wage at the start of the day and re-enter negotiations by lunchtime for a higher wage!

The children also made kites out of the notes
And you had to watch the price of bread increase while you queued for a loaf

And there are/were several houses wallpapered with banknotes....like papier mache...

(Hmmm, pic is from Wikipedia, wasnt expecting that....)

 SilverMK2 wrote:
Though it kind of puts into perspective those people who are taking home a million plus pounds a year. How is a year of their time worth a normal persons entire working life?

Because we can't go having the proletariat thinking they are equal to the fat-cats in big business, defeats the whole object of capitalism if everyone is considered just as worthy

 SilverMK2 wrote:

 ExNoctemNacimur wrote:
I heard something quite interesting about the Weimar German Republic. During the 20s, inflation was so bad that:
- When someone left a suitcase full of money on the road, the thief took the suitcase and left the money;
- The Reichmark notes were so useless that they were used as kindling for the fire and
- Union leaders had to negotiate a wage at the start of the day and re-enter negotiations by lunchtime for a higher wage!

From an article on the subject.

One of the most famous pictures of the era:



Yes. They're using huge stacks of money as blocks.

So the average Brit will need to be earning 25 grand yearly from when they are 16 then...

What a pointless, bullgak article.

 Medium of Death wrote:
So the average Brit will need to be earning 25 grand yearly from when they are 16 then...

What a pointless, bullgak article.

It'll be all this middle class Cannabis growing and selling on of ONE MILLION Volt Tasers that will boost incomes. That and paid by the hour mild bondage sessions in the front room.

Can I have it now please?

 Medium of Death wrote:
So the average Brit will need to be earning 25 grand yearly from when they are 16 then...

Not really. They'll earn a lot less than that when they're 16, and a lot more than that when they're 56 (because they will have climbed the ladder at least a few rungs in 40 years, and because inflation alone will treble the average wage, never mind wage increases above and beyond inflation).

 thenoobbomb wrote:
You'll just spend most of that.

Thanks to kickstarter.

 sarpedons-right-hand wrote:
Check this out......
http://www.moneyvista.com/news/news-articles/average-brit-to-make-a-million-by-age-56/?utm_source=taboola

Soon, I will be considerably richer than yoaw........

500 Internets to whoever gets the quote.......

Stan and Pam from the Paul and Harry TV show. This is my favourite quote when admonishing assistants or subcontractors.

My internetz now please Mr Right-hand if you will.

 sebster wrote:
never mind wage increases above and beyond inflation).

Wage increases above and beyond inflation? I thought they only existed in legends passed down through the ages from wage-slave to wage-slave...

Promotion usually brings pay increases despite inflation.

What an utterly meaningless artical. Given that I'm looking to buy a 2-3 bed house at around £300k I would expect that to be pushing £1million in value in 20-30 years, but also expect my wages to be £75-£100k (if not more buy then), and for that to be well within the range of normal office workers like myself.

Inflation makes fools of us all (Or something like that).

*Insert joke about GW prices*