$500,000 Revisited

A consistent search term that leads to my blog is, “is $500,000 alot of money” or some variation thereof.

First, stop misspelling “a lot.” It isn’t one word, it’s two. “Alot” is not a word. At all. I’m tired of seeing “alot.” Seriously.

Second, yes, $500,000 is a lot of money. It’s a lot of money to inherit, a lot of money to earn, and just downright a lot of money for any individual or immediate family to be in possession of.

With $500,000, you could pay for 8 years of Harvard undergrad. You could buy 18 Toyota Camry Hybrid XLEs. Or you could purchase:

  • 108,500 gallons of gas at today’s national average price of $3.61
  • over 50,000 Kindle books at a price of $9.99
  • 5,050 Kindle Touches at $99 each
  • 1000 Apple iPads
  • 116 round trip tickets from LAX to Tokyo-Narita, June 30-July 6 at a price of $4,293.29 a piece
  • 2,000 PlayStation3 game consoles

You could buy at least one house in many parts of the country, and in some rural areas you might be able to buy 3, 4 or 5 houses (maybe more!).

$500,000 is a lot of money. A lot. I’m not saying people who make $500,000 a year are ultra-rich, particularly because many of those people have expensive habits, but that doesn’t diminish the value of $500,000. It is, without a doubt, a very large amount of money. It should be considered an extremely comfortable salary or an exciting and welcome inheritance.

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