WildCowboy said:
But keep in mind that a million bucks won't go nearly as far in 40 years as it does today. At an annual inflation rate of 3%, $1,000,000 in 2046 will have the buying power of slightly less than $300,000 in today's dollars. Still a nice chunk of change, but the time value of money is an important concept that a lot of people fail to take into account.
Even 300,000 is better than nothing!
As for how far money will go, that is really an interesting question/puzzle.
Not everything goes up with inflation. Techology based devices is one area that you can get more for your money today than 10, let alone 40 years ago.
For example, round 1994 I purchased a Quadra 840av with 1GB AV HD, 16MB RAM, 4MB VRAM, and CD-ROM with 16 inch Apple Trinitron display. Cost was around $5,000.
Today, a little over 10 years later, I can purchase a much more capable system such as a Mac mini with 20 inch ACD for a fraction of that cost.
Another example would be CD players. I remember the first ones costing upwards of almost $2,000. They were very basic with few functions. Today you can purchase a portable version on sale for next to nothing that has more features, better sound quality, and a more robust set of controls.
So while my $ may be worth less than it was 10 years ago, in some areas I can purchase a whole lot more with it.
