The moving goal post
When I was a young boy I was in awe of millionaires. I never fathomed becoming one. I became a millionaire (by net worth) five years ago at the age of 40. After becoming a millionaire, I became somewhat disappointed. A million dollars sure doesn't make me feel rich at all. So, the other day I looked up an inflation calculator and asked it how much a million dollars in the year I was born (1976) would be worth today so that I could see if I was an actual millionaire compared to what a millionaire was the year I was born. My jaw dropped! It would take $5.3 million in today's dollars to be equal a million dollars the year I was born. That explains a lot and possibly explains why I don't feel like what I think it should feel like to be a millionaire.
Sadly, I think the inflation calculator only uses the OFFICIAL inflation numbers. I understand the the ACTUAL inflation numbers are even WORSE! Perhaps it would take $10 million today to feel like a million dollars in 1976. And it keeps getting worse. I suppose in a few years, even people in the lower quintile of net worth will be millionaires, but I don't think it will mean what it meant all those years ago.........