Sunday, February 18, 2007

Hey , whats a million these days

From the Independent reports that a millionaire living in 1907 Britain would today need nearly £86m to enjoy the same standard of living.

£17.2m today would have the same spending power as a millionaire in 1957.
The value of £1m would drop by two-thirds in real terms over the next 50 years even if inflation rose in line with the Government's target of 2 per cent a year.

"The value of £1m will be reduced significantly further over the next 50 years, even if inflation is kept firmly under control... £1m is no longer enough to fund a lavish lifestyle... " said Rob Devey, managing director of Clerical Medical.

Its all rather relative isn't it ...

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