• ragas@lemmy.ml
    link
    fedilink
    English
    arrow-up
    5
    arrow-down
    1
    ·
    7 months ago

    This is not true. A million dollars buys you a house, so basically cancels rent. But it does not feed you for life and lets you live without working.

    There is a big difference between people who own a millon dollars in money and assets and those who have a million dollars in their checkings account.

    • ArcaneSlime@lemmy.dbzer0.com
      link
      fedilink
      English
      arrow-up
      2
      ·
      7 months ago

      Of course, afaik almost no billionaire’s money is liquid either, it’s in properties and businesses and shit.

      Like I’m sure bezos has plenty liquid, but most of his billions is just a valuation of amazon/aws/whatever other shit he owns.

      Like, if we wanted to take all his money we’d have to completely liquidate amazon and aws, and his house etc, selling the assets off to whoever can afford it, it’s not just breaking into his Scrooge McDuck vault full gold coins.

      Not that it’s impossible, it just seems that many people don’t realize this and think it is just the Scrooge McDuck vault.