Did you know that most of the money in the world is intangible? Most of the money in the world exists only in digital ledgers and/or is created through interest and debt generation. Technically, there is about $80 trillion in the world. Only about $37 trillion is, “tangible,” in the form of coins and bills. If you count cryptocurrencies, derivatives, and investments, then about $1.2 quadrillion exists. (A quadrillion is a number followed by 15 zeroes.) Why think about these things? Do you have enough money? I want to inspire you to become more financially ambitious with mental exercises about money. The $1 million weight question – how much does $1 million in physical money weigh?
When I was a kid, I loved the cartoon DuckTales featuring Scrooge McDuck.
One recurring theme of that cartoon was Scrooge McDuck swimming in a pool-like vault full of gold coins.
(Image courtesy Walt Disney Television via CC BY-ND 2.0.) I always used to wonder how Scrooge McDuck jumped into a vault of gold coins without hurting himself. Wouldn’t he just hit his head and get hurt? Gold coins wouldn’t displace like water if you jumped into a pool filled with them. Yes, its a cartoon but…oh well, never mind.
I always wondered how much money McDuck had in that pool and how much it weighed.
It’s been said that the first $1 million will be the hardest the generate. So, I have 5 pieces of realistic financial advice that will help you become financially independent within a lifetime.
Remember, becoming, “rich,” is a just goal for many. And many don’t know what to do after reaching that goal.
“Financial independence,” is a financial mindset that will keep you rich for a lifetime.
To motivate your financial ambition, let’s explore some mental exercises about the $1 million weight.
Haven’t you ever imagined having $1 million dollars on a table in front of you? How would you get it?
And – wouldn’t the weight of all that money break the table?
The $1 Million Weight Question
Why is the first $1 million the hardest amount to generate for financially ambitious people?
Over 20% of new businesses fail within the first year of operations. 50% of new businesses fail after a decade.
Many people don’t know what they are doing when they endeavor to become wealthy. A lot of trial and error is involved.
Also, $1 million doesn’t buy as much as it used to, as Dr. Evil embarrassingly learned in the Austin Powers films.
After inflation, a million dollars in 1990 would be worth $1.98 million today.
Even if you do know what you are doing, it can take years or decades to make that amount.
But first things first – the $1 million weight question.
How much does $1 million weigh? Well, it depends on the denomination. If you had $1 million dollars in $100 bills in a suitcase on your table, it would only weigh 22 pounds. So, you can be a portable millionaire.
This website has an excellent money weight calculator that can help you calculate the physical weight of large sums of money.
For example, the weight of $1 million in $50 bills is only 44 pounds.
Prefer your million delivered in $20 notes? Well, it would weigh 110 pounds.
Do you want your million in $10 notes? Well, that would weigh 220 pounds.
Want your million in $5 notes? Then your million dollars will weigh 440 pounds.
Do you want your million in $1 notes? Hope you have a truck because it would weigh 2,204 pounds.
A million in quarters would weigh 50,000 pounds.
Try to fill your pool with a million dollars in pennies and it would weigh 551,155 pounds. That would be half a million pounds stressing your pool’s foundation! (Scrooge McDuck’s gold coin vault repair bills due to weight stress must have been astronomical.)
Now that we have pondered how much $1 million might weigh, let’s ponder how we can realistically make $1 million.
5 Ways to Realistically Make $1 Million
I am not trying to encourage you to jump into a pool filled with half a million pounds worth of pennies.
The $1 million weight question thought exercise is designed to get your mind in a financially ambitious mood.
And, to think about the weight of financial responsibility required to become financially independent.
“Rich.” “Wealthy.” “Elite.”
There are different terms that also mean, “financially independent.”
Financially independent people have zero debt, multiple income streams, invest well, and keep their money in the family.
The more money you have, the more options you have in life.
Financial independence isn’t about materialism – its about recognizing money as a tool for use in responsible personal finance and transactions. Be cautious and strategic when it comes to money moves as if you are playing chess.
So, here are 5 ways to realistically become financially independent in your lifetime.
1. Invest in Yourself
You know how in the movies when the protagonist presents an idea or skill to a rich person to finance a dream? Then the protagonist gets the money they need and becomes a success?
Unless you are born to wealth, that does not happen in the real world.
There is no such thing as easy money. Most investors treat investing like a scary swimming pool. No one wants to jump in first and get in over their head. Be your own first investor and have a solid business plan- that will impress potential financiers to jump in.
Invest in you. It takes time to make money or to get investors interested in a business plan.
Develop a realistic business plan. Spend a few years saving enough money so that you become your own first investor. Someone will respond to that.
2. Work in the Right Business Market
What vocation, product, or financial market do you transact in where you know business will be good?
We can’t all be movie stars, rock stars, or celebrities.
I knew someone whose family made a business out of creating various medical prostheses. They sourced and sold crutches, canes, orthopedic supports, false teeth, eyes, hands, limbs, and so on, to local hospitals, clinics, physical rehabilitation centers, and individuals. Their company is worth a few million.
What is it about your job, talent, or skill that will be profitable in your chosen market?
You may not think about it, but your local dentist might be worth a few million. They provide a service that will always be in demand.
Keep in mind you may need to work long workdays and maybe 6-day or 7-day workweeks to become financially independent.
3. Always Improve Yourself
Always learn new things.
Learn a new language. Learn a new skill like painting or playing an instrument.
Study the business practices of foreign countries and international markets.
Opportunity favors the prepared and the bold. Learn something new that will be valuable to you in the future.
4. Generate Multiple Income Streams
It’s hard to make money from one idea or product.
How many income streams can you generate from your original business or skill?
The more income streams you have coming in, the faster you will reach $1 million.
5.1 Make $100,000 First
The $1 million weight question is kind of daunting as a thought exercise. Its hard to make that much money.
Try to make $100,000 as a beginning goal.
Prove to yourself that you can make $100,000 and keep it. And if you can make $100,000, why can’t you make $200,000? And, I think you see logically where I am going here.
Be patient with yourself.
The road to financial independence is a long and winding one. It can start with the $1 million weight question.
How the journey fares depends on you.
5.2 Start With a Business Plan
Consult a financial advisor or talk to someone already in business.
Read books and interviews about successful rich people and their advice.
Accept that it will take time for you to make $1 million. And as for the $1 million weight question, think about the weight of responsibility when it comes to money.
And, finally jump in a pool with half a million pounds of pennies.
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Allen Francis
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.
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FAQs
What is the weight for 1 million dollars? ›
A million dollars weigh approximately 20 kg or 44.09 lb in $50 bills.
How much does $1 million weigh in $100 bills? ›In $100 bills, the weight of $1 million is about 22 pounds.
How much does $1 million weigh in $20 bills? ›U S currency weighs 1 gram, so a million dollars in twenty dollar bills weighs 50,000 grams, or slightly over 110 pounds.
How much space does 1 million dollars in $100 bills take up? ›Ten thousand $100 bills equals $1 million (10,000 x $100 = $1,000,000). Therefore, a $1 million stack of $100 bills is 43 inches tall (10,000 x . 0043 inches = 43 inches).
Can a million dollars fit in a duffel bag? ›With a weight capacity of 23lbs, the duffel can fit the money using $100 bills stacked three rows vertical, three horizontal, and eleven bundles tall, with one bundle on top to equal the million bucks. “It's a soft and serious bag,” says BRANDT-SORENSON's co-owner and brand director Cecilia Brandt.
What does a million dollars look like in cash? ›Ten thousand $100 bills equals $1 million (10,000 x $100 = $1,000,000). Therefore, a $1 million stack of $100 bills is 43 inches tall (10,000 x . 0043 inches = 43 inches).
Can you fit a million dollars in a briefcase? ›Assuming all $100 USD bills, an average-sized briefcase (25" x 18" x 4") could fit about US$2,400,000. An average attache case (18" x 12" x 4.5") is good for about US$1,000,000.
Is a $50 dollar bill real? ›The United States fifty-dollar bill ($50) is a denomination of United States currency. The 18th U.S. president (1869-1877), Ulysses S. Grant, is featured on the obverse, while the U.S. Capitol is featured on the reverse. All current-issue $50 bills are Federal Reserve Notes.
How much does 1 billion 1 dollar bills weigh? ›If you laid the $1 bills end to end, the trail would measure 96,900 miles. How much would $1-billion dollars weigh? One billion $1 bills would weigh around 10 tons. If you want your winnings in quarters, it will weigh 22,680 tons.
How much does 5 million in cash weigh? ›Assuming all hundred dollar bills, five million dollars would weigh approximately 110 pounds.
How thick is a $10000 stack of $100 bills? ›
$10,000. A packet of one hundred $100 bills is about an inch thick. It could be one year of tuition at a state college, one fifth of a decent salary, one month of a great salary, or a wild night in Vegas.
What does a trillion dollars look like in 1 dollar bills? ›This stack of cash - in $1 bills - would measure 67,866 miles, stretching approximately 2.72 times around the Earth's equator. If denominated in $100 bills, $1 trillion would be enough to fill 4.5 Olympic-sized swimming pools, with a total volume of 398,000 cubic feet.
How much money fits in a shoebox? ›He showed the jury his own box neatly stacked with rubber-banded piles of singles -- 2,400 of which, he testified, were his own. "Your example was that 7,000 bills could not fit in a shoebox," the detective told Mr. Shargel on cross-examination. "I have 7,400 bills in my shoebox."
How much cash can you fly with? ›International travelers entering the United States must declare if they are carrying currency or monetary instruments in a combined amount over $10,000 on their Customs Declaration Form (CBP Form 6059B) and then file a FinCEN Form 105.
Can you fly with a million dollars? ›When flying domestically within the USA, there is no limit to the amount of cash that you can carry or have to declare. However, if you are found flying with large amounts of cash or money, TSA officers may question you as to why you have it and details of your trip.
Can you travel with a million dollars? ›Traveling with Cash
There is no law against that as far as domestic flights are concerned. If you're flying internationally with more than $10,000, you'll have to declare the amount to customs. Other than that, assuming customs approves your luggage, you can carry as much cash as you want.
a) Since one million dollars equals $1 000 000, Biff will have $1 000 000 ÷ $10 = 100 000 ten dollar bills. b) First we note that $500 per week equals $500×52 = $26 000 per year. Thus the million dollars would last $106 ÷ $26 000 = 38.46 years, or roughly 38.5 years.
How much money is on a pallet of $100 bills? ›A stack of (100) $100 bills—that's $10,000— is approximately half-inch thick; if I get a stack from the bank, I can easily slip it into an interior pocket of my suit jacket, and noone would know it's there. I could fit 30 of those stacks in a grocery bag, $300,000, and have room to spare.
How much interest does 1 million dollars earn per year? ›Here's how much $1,000,000 will earn in one year in different scenarios: In a 4% high-yield savings account: $40,000 in interest. In the stock market: $96,352 in returns. In real estate: $108,000 in returns.
Can you keep millions in the bank? ›In short, there is no limit on the amount of money that you can put in a savings account. No law limits how much you can save and there's no rule stating that a bank cannot take a deposit if you have a certain amount in your account already.
Where should I keep my million dollars? ›
- Invest in the Stock Market. ...
- Invest in Bonds. ...
- Invest in ETFs. ...
- Invest With a Robo Advisor. ...
- Private Lending or P2P Lending. ...
- Invest in a Business. ...
- Invest in Rental Properties. ...
- Invest in Real Estate Investment Trusts (REITs)
The United States has never issued a million dollar bill. However, many businesses print million dollar bills for sale as novelties. Such bills do not assert that they are legal tender. The Secret Service has declared them legal to print or own and does not consider them counterfeit.
What is the most counterfeit dollar bill? ›A superdollar (also known as a superbill or supernote) is a very high quality counterfeit United States one hundred-dollar bill, alleged by the U.S. government to have been made by unknown organizations or governments.
Do they still make $2 dollar bills? ›“Many Americans have pretty dubious assumptions about the $2 bill. Nothing happened to the $2 bill. It's still being made.
What is a rare dollar bill? ›Called "ladder bills," the most sought-after examples are bills that feature the so-called "perfect" ladder serial numbers: 12345678 and 87654321. Unsurprisingly, these notes are exceedingly scarce and represent only one-in-96-million bills printed, meaning they can sell for big bucks.
What is the heaviest dollar bill? ›The largest denomination Federal Reserve note ever issued for public circulation was the $10,000 note. On July 14, 1969, the Federal Reserve and the Department of the Treasury announced that banknotes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued due to lack of use.
What does the K mean on a dollar bill? ›Louis, I = Minneapolis, J = Kansas City, K = Dallas, and L = San Francisco. The four numbers that are repeating signify the number of the letter of the alphabet that it corresponds to, for example- A-1, D-4, and so on.
What does a trillion dollars look like in $100 bills? ›If you stacked $100 bills totaling $1 trillion on top of each other, the stack would be 631 miles high. This is what $1 trillion in spending look like. Londynn Parker and 62 others like this.
Is a million dollars cash alot? ›On the one hand, $1 million is a vast sum of money. According to the New York Times, having $1 million puts you in nearly the 90th percentile of household wealth in the U.S. (the 50th percentile is $127,000).
How many $20 bills are in a bank strap? ›A strap is a package of 100 notes. All straps must contain 100 notes of the same denomination and must have only one band around them.
What does 7 million dollars weigh? ›
Each piece of US paper currency weighs one gram. For one dollar bills, 7 million grams equals 15,432 pounds, or 7.7 tons.
What a billion dollars looks like? ›If you write a 1 followed by nine zeros, you get 1,000,000,000 = one billion!
Do banks give currency straps? ›All bills within a strap should be the same currency denomination. Many banks offer these currency straps to their customers as a courtesy, but they are available through most office supply stores or onlineas well.
How much is a million dollar bill worth? ›If you found currency that indicated it was a 1 million dollar bill, it would be worthless as legal tender. It would be counterfeit money. The U S Federal Reserve has never issued currency with a 1 million dollar face value.
How long will a trillion dollars last you? ›It would take you more than 2,700 years to spend a trillion dollars, if you spent one million dollars every day. And if you had that much and spent one dollar per second, it would take more than 32,000 years to spend it all. Also, a trillion dollars in one-dollar bills would weigh 2.2 billion pounds.
What is a zillion dollar? ›Zillion sounds like an actual number because of its similarity to billion, million, and trillion, and it is modeled on these real numerical values. However, like its cousin jillion, zillion is an informal way to talk about a number that's enormous but indefinite.
Is the 100 trillion dollar bill Real? ›100 Trillion / 15 Products. If you've wondered what a Zimbabwe One Hundred Trillion Dollar Banknote looks like, you have come to the right place. Zimbabwe experienced a period of hyperinflation spanning a few decades that culminated in 2008 with the introduction of the 100,000,000,000,000 banknote.
What should you not put in a shoebox? ›Candy; toothpaste; gum; used or damaged items; scary or war-related items such as toy guns, knives, or military figures; chocolate or food; seeds; fruit rolls or other fruit snacks; drink mixes (powdered or liquid); liquids or lotions; medications or vitamins; breakable items such as snow globes or glass containers; ...
Are shoe boxes worth keeping? ›Shoe boxes can protect your shoes and keep them in proper conditions to avoid any kind of residue or build-up, and this can drastically improve the overall lifespan of your shoe. However, there is no benefit to storing your shoes at all if you are going to put them away without cleaning them.
How many dollar bills in a pound? ›According to the Bureau of Engraving and Printing , US paper currency is made up of 75% cotton and 25% linen. That is, there are three-fourths of a pound of cotton in each pound of dollar bills. This same source also informs us that there are 454 bills in a pound of currency.
How much does 1 million dollars weigh in pennies? ›
One million pennies would weigh about 78.125 tons. Or 156,250 pounds.
How much is 5 million dollars weigh? ›Assuming all hundred dollar bills, five million dollars would weigh approximately 110 pounds.
How much does 7 million weigh? ›Each piece of US paper currency weighs one gram. For one dollar bills, 7 million grams equals 15,432 pounds, or 7.7 tons.
Will $1 million dollars fit in a briefcase? ›Assuming all $100 USD bills, an average-sized briefcase (25" x 18" x 4") could fit about US$2,400,000. An average attache case (18" x 12" x 4.5") is good for about US$1,000,000.
How big is a billion dollars in $100 bills? ›A billion dollars in $100 bills would weigh 22,000 pounds, and be more than 1,100 cubic feet of paper. Ok, now some comparisons. A $10,000 stack of $100 bills can fit in your pocket.
What does 1 billion pennies make? ›One billion US pennies is equal to 10 million US dollars.
How much does a billion $1 bills weigh? ›If you laid the $1 bills end to end, the trail would measure 96,900 miles. How much would $1-billion dollars weigh? One billion $1 bills would weigh around 10 tons. If you want your winnings in quarters, it will weigh 22,680 tons.
How much interest does a million dollars make? ›Here's how much $1,000,000 will earn in one year in different scenarios: In a 4% high-yield savings account: $40,000 in interest. In the stock market: $96,352 in returns. In real estate: $108,000 in returns.
How much would the whole world weigh? ›You will find that the weight of planet Earth is… 13,170,000,000,000,000,000,000,000 (1.3 x 1025) pounds! That's thirteen septillion!
What does $2000000 weigh? ›All US bills weigh a gram each. $200,000,000 in $100 bills would be 2 million bills, with a weight of around 2000 kilograms, or 4,400 lb.
How much would everyone on Earth weigh? ›
There are 7.2 billion humans on the planet today - if we take everyone over the age of 15, they weigh a combined total of about 332bn kg. If we imagine there are 10,000 trillion ants in the world, weighing an average of 4mg, their total weight comes to just 40bn kg.