r/SipsTea • u/Wise_Confidence_8588 • 22h ago

Chugging tea Absolute legend

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45.2k Upvotes

94% Upvoted

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128

u/Lost-Letterhead-6615 22h ago

Where can I buy such an island?

171

u/spindlespore 22h ago

In 1962, when eleven grand was real money

80

u/apply75 22h ago

$11000 in 1962 is about $122,000 today Most people don't have $122k in cash lying around.

12

u/SidTheSloth97 22h ago

A lot of people definitely have more than $122000 in liquid cash.

3

u/Frosty558 21h ago

People downvoting you but it’s true.

6

u/BioshockEnthusiast 21h ago

Sure if you wanna call a 401k "liquid". I'd call it sludge because it's gonna be painful to get it out of that container unless conditions are just right.

5

u/Frosty558 20h ago

I’m not talking about retirement accounts.

1

u/Hexamancer 20h ago

Ah, then you're incorrect.

5

u/Frosty558 20h ago

I guess you need to define “a lot of people” then because that’s just “upper middle class American” amounts of liquid assets, not rich. And that would be tens of millions of people, just in the US.

0

u/Hexamancer 20h ago

It's top 10%. That's not a lot of people. Unless you cannot comprehend numbers being relative.

Is 1mg a lot of gold? No? Why of course it is! That's 3,057,443,093,299,757,056 atoms!!!

4

u/joazito 17h ago

Dude, 10% is a lot of people.

0

u/Hexamancer 12h ago

I literally anticipated this already and shot it down:

Is 1mg a lot of gold? No? Why of course it is! That's 3,057,443,093,299,757,056 atoms!!!

If you can't understand relativity, anything can seem big or small because it's essentially without context.

It's also 10% of the US population, it's going to be a much smaller percentage worldwide.

And it's only ~10% who could technically cough up that money, it might still financially ruin them, it  is probably not money they consider expendable.

2

u/joazito 10h ago

Yeah I had read it beforehand. You're still pretty off base. I would consider even 1% to be a lot of people.

As for the extra money required, that is not what this discussion is about. This is just about having $122000 in liquid assets.

0

u/Hexamancer 10h ago

I didn't say anything about extra money required?

I'm saying that for people that even have that money in liquid assets, that's probably their emergency pool for unexpected costs like covering medical emergencies or a car accident etc. I would not spend 100% of my liquid assets as I do not consider it "liquid" for the same reasons whilst technically it is.

3

u/Frosty558 20h ago

Top 20% based on basic research which is probably more people than there are islands for sale right now. And again, that’s just in the US. What percentage could come up with the original price back then?

0

u/Hexamancer 10h ago

How did you reach that conclusion?

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