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2.5 Billion: A Number That Will Change Your Money Mindset [VIDEO]
Posted By Jim On 03/14/2013 @ 11:58 am In Personal Finance | 4 Comments
I was watching an interesting TEDxTalk by Preet Banerjee (embedded below) in which he brings up two thought provoking ideas about money.
First, inflation is hard to think about in real terms outside of a few simple examples until you talk to someone older. He says that you should find someone in retirement ask them whether they paid more for their last car or if they paid more for their first house, in nominal terms. For most, they’ll pay more for their last car than their first home.
My parents aren’t in retirement yet but they bought their first house, the one I grew up in, for about $68,000 in 1980. Their last car was not $68,000 but the argument of inflation still holds true, as $68,000 in 1980 is worth about $189,470 today. When the sold the house, it was closer to half a million dollars but that was during the peak of the housing boom (subsequently gave some of that back on the home they bought). Inflation doesn’t tell the whole story but I think you’ll find it works for those actually in retirement.
That’s not the number that really caught my attention… that one is reserved for 2.5 billion. That’s the average number of heartbeats a human being will have in a lifetime. If your heart beats at a steady 60 bpm, that’s 79 and a quarter years. Exercise then seems more like a trade-off, you elevate your heart rate for many hours a year in order to get the resting heart rate down. Lower it by 1 bpm and that’ll lengthen your time on this planet. Someone with a 59 bpm will live 80.6 years (assumes a lifetime avg of 59 bpm of course).
The 15minute TEDxTalk is about debt but the 2.5 billion heartbeats really resonated with me.
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