‘Umar Ibn Abdul Aziz (RA) was told that his son bought a ring for a thousand dirhams, he wrote to him :

I was told that you bought a ring that costs a thousand dirhams. So when you receive this letter, sell the ring and fill a thousand stomachs (with food bought) with that money. Then buy a ring for two dirhams that has a core of iron and have the following words scripted on it, ‘May Allah grant His Mercy to he who knows the limits of his own self.’

[ Madarij As-Salikien, 2/331 ]

Source

Commentary

1 dirham is 2.97 grams of silver (read here).

So, 1000 dirhams is 2.97 kg of silver.

The current price of silver is USD 925.56.

so, 1000 dirhams is valued at USD 2,748.91.

Perhaps ‘Umar Ibn Abdul Aziz (RA) was thinking of this verse when he reprimanded his son :

O you who believe! Ward off from yourselves and your families a Fire (Hell) whose fuel is men and stones, over which are (appointed) angels stern (and) severe, who disobey not, (from executing) the Commands they receive from Allah, but do that which they are commanded. [ Al-Qur'an 6:66 ]

And if we refer to this verse :

The likeness of those who spend their wealth in the Way of Allah, is as the likeness of a grain (of corn); it grows seven ears, and each ear has a hundred grains. Allah gives manifold increase to whom He pleases. And Allah is All-Sufficient for His creatures’ needs, All-Knower. [ Al-Qur'an 2:261 ]

By today’s value, ‘Umar Ibn Abdul Aziz (RA) has actaully adviced his son to invest USD 1,920,390 for his akhirat.

wa Allaahu a’lam.