Find solution
What was the mega million for today?

What will 1 million today be worth in 40 years?

  • What i mean is, $1 million 40 years from now will not have the purchasing power that it has today. Since i am withdrawing all the interests every year (regardless of how much the interest is), obviously the amount will remain at 1 million, but how much is this 1 million going to be worth in 2052? The equivalent of $100,000? What i mean is, $1 million 40 years from now will not have the purchasing power that it has today. Since i am withdrawing all the interests every year (regardless of how much the interest is), obviously the amount will remain at 1 million, but how much is this 1 million going to be worth in 2052? The equivalent of $100,000?

  • Answer:

    You can't accurately predict interest rates. The money you would receive is just whatever the going interest rate is * 1,000,000. Living off of just the interest rate the entire time period is a little unorthodox. Typically you allow your investment to earn some money first for like 10-20 years and then withdrawal equal payments, leaving still 1,000,000 in in your account by the end of 2052.

SEU at Yahoo! Answers Visit the source

Was this solution helpful to you?

Other answers

You can't accurately predict interest rates. The money you would receive is just whatever the going interest rate is * 1,000,000. Living off of just the interest rate the entire time period is a little unorthodox. Typically you allow your investment to earn some money first for like 10-20 years and then withdrawal equal payments, leaving still 1,000,000 in in your account by the end of 2052.

xcnico

Nobody can answer your question, because nobody knows what the inflation rate will be each year for the next 40 years

Sean Roberts

not that much. It depends on the economy and how much technology has advanced.

Romeo Abregana

Still one million.

Joel

Nobody can answer your question, because nobody knows what the inflation rate will be each year for the next 40 years

Sean Roberts

Still one million.

Joel

not that much. It depends on the economy and how much technology has advanced.

Romeo Abregana

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.