Thursday, March 25, 2010

A MIllion Bucks Doesn't Go Far Anymore


Not that I have a million bucks. I'm just sayin'. My lovely mom-in-law and I were discussing the Lotto jackpot, and what we would do if we won a cool mil. We both agreed that winning $1,000,000 would be fantastic (hey, we celebrate when we win $5 on scratch tickets), but it wouldn't go nearly as far as it once did (say, in 1985).

I remember, as a teen, being asked the same question by my mom. I had a big elaborate plan worked out that would allow me to give some of it away to loved ones, some to God (via charitable donations to the church), and the rest to myself for both investments and spending. I'm sure that at the time, my laundry list of "stuff" not only included nice cars and a home (or two), but clothes, shoes, and travel arrangements. At the time, that sum of money probably could purchase all of the things on my list. The plan was solid.

Now? Even with $1 million, I wouldn't be able to afford a single-family house in Point Grey, or a sub-penthouse apartment in the third Harbour Green building. In fact, I'd probably still be priced out of single-family dwellings in the nicer neighborhoods of Vancouver West. A nice car for Hubbs would set me back nearly 20% of the jackpot. As for investments - well, let's just say that the ROI at 2% isn't awesome.

I blame inflation. It would probably require a jackpot of at least $10 million to be able to do all of the things that I had laid out in my initial spending plans. To me, that's pretty sad. It's sad to see that even my jackpot dreams have become unaffordable. What is this world coming to?

Of course, I haven't bought a Lotto ticket in nearly a year, so my chances of winning even $5? Nil.

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