For retirees, a million-dollar illusion

Source: Jeff Sommer - The N.Y. Times (Paid Registration)

A million dollars isn't what it used to be.

In 1953, when “How to Marry a Millionaire” was in movie theaters, $1 million bought the equivalent of $8.7 million today. Now $1 million won’t even buy an average Manhattan apartment or come remotely close to paying the average salary of an N.B.A. basketball player.

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moneywise, savings, finances, retirement


 
 

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