$1,000,000 in 1953 is worth $10,410,037.45 today, inflation*
Inflation is a double sided coin, good and bad.. Depends what you are looking to get out of it.
I got a little curious today and decided to see what 1 Million dollars back in 1953 is now worth in 2021 and what the inflation rate was and what the purchasing power is now.
We have a ton of more stuff, to buy
What I found was $1,000,000 in 1953 is equivalent in purchasing power to about $10,410,037.45 today, that's roughly an increase of $9,410,037.45 over 69* years, inflation is a bitch sure in 69 years if you had 1,000,000 in a bank that still is operating today, you'd have over 10 million bucks.
The dollar had an average inflation rate of 3.45% per year between 1953 and today, producing a cumulative price increase of 941.00%.
Due to inflation it actually erodes or diminishes the value in dollars.
Hold up though, slow down, because this also means that today's prices are 10.41 times higher than average prices since 1953, What is even more insane to me is how a dollar today only buys 9.61% of what it could buy back then!! This is from the Bureau of Labor Statistics consumer price index.
The chart above shows how $1,000,000 is worth less over 69 years even with more Dollars it's still worth less.
The inflation rate in 1953 was 0.75%. The current year-over-year inflation rate (2021 to 2022) is now 6.81%. If this number holds, Having a Million bucks in the bank today will be equivale
nt in buying power to $1,068,090.03 next year, but still means you paid 68,000 more then last year.
Conversion: 1953 dollars today
Initial value Equivalent value
$1 dollar in 1953 - $10.41 dollars today
$5 dollars in 1953 - $52.05 dollars today
$10 dollars in 1953 - $104.10 dollars today
$50 dollars in 1953 - $520.50 dollars today
$100 dollars in 1953 - $1,041.00 dollars today
$500 dollars in 1953 -$5,205.00 dollars today
$1,000 dollars in 1953 - $10,410.00 dollars today
$5,000 dollars in 1953 - $52,050.10 dollars today
$10,000 dollars in 1953 - $104,100.30 dollars today
$50,000 dollars in 1953 - $520,501.80 dollars today
$100,000 dollars in 1953 -$1,041,003.70 dollars today
$500,000 dollars in 1953 -$5,205,018.70 dollars today
$1,000,000 dollars in 1953 - $10,410,037.40 dollars today
Inflation by City
Looking at these numbers makes me numb, inflation is going ramped, I was surprised to see one of California's Major cities has had the highest inflation rate, looking at the information below we can see the highest inflation rate was at 3.76% For San Francisco, the medium rate was at 3.40% which was Philadelphia, the lowest was at 3.27% with Detroit.
San Francisco, California: 3.76% average rate, $1,000,000 → $12,328,283, change of 1,132.83%
Philadelphia, Pennsylvania: 3.40% average rate, $1,000,000 → $9,682,418, change of 868.24%
- Detroit, Michigan: 3.27% average rate, $1,000,000 → $8,906,620, change of 790.66%
What if we invested that money back in the day with the S&P 500 index in 1953, that investment would be worth approximately $1,349,680,843.03 in 2021.
A massive return on investment of 134,868.08%, with an absolute return of $1,348,680,843.03 on top of the original $1,000,000, Bitcoin who?
Overall Inflation is a buzz kill
The reason I choose $1,000,000 and the year 1953 - Lucy Ball
Who Am I?
It's me Chronocrypto...
Thank you got reading my content, not as deep as others on here, I express my self like I know how.. I also wanted to share with some things about what I have going on Hive and or around the blockchain..
I run Project Utopis, Project Utopis Whitepaper You probably have seen Utopis posted around, of not check out some of these posts created by holders of the coin.
Utopis content from holders
Utopis best in class dividends project - Written by hykss
Planning on increasing my UTOPIS stake | Data of Total Hive received by the UTOPIS investors Written by bala41288
utopis project dividends dropped but now you 're drops in other coins ... Written by funnel
One the best token on hive and its lovely dividends 😍💰- Written by bhattg
A Way To Earn More Hive On Hive While You Sleep- Written by readthisplease
If you're not looking into Utopis, you should be.- Written by dagger212
Tokenomics of Project Utopis
- Total Hard Cap: 1 Million Tokens~
- Total Burnt (null) 850,000
- Total Minted: 150,000 and in circulation (80776.7836134) held by accounts, I currently hold 69,223.21638656
- Current true* price of Utopis 5 Hive.
Utopis is at 35k hive delegated,
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Future goals
Continue building Project Utopis to it's fullest, I enjoy delegating success to other projects.
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Then let's Time travel and be a millionaire
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$1,000,000 in BTC in 2013 would be $170,000,000 today.
Yes, inflation is a wealth destroyer if money is just sitting around. Regarding an investment in 1953 it would make sense if it is inherited, otherwise no, as probably that person who started it, is dead by now.
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Inflation is a real killer. It is expected to worsen in the coming years. I think the best thing is never to keep money idle but to channel it into good investment.
And that’s why we stack gold and silver. If you had a million dollars in either back in 1953. You’d be blowing your nose in hundred dollar bills today.
One million n gold in 1953 would be 28,702 ounces. That would be $51,664,753 in today’s price of gold.
buzz kill yeah and then some