A sobering thought
Sep 23, 2021 17:59:20 #
For those who have a net worth of 1 million dollars or more. A sobering thought. It would take about 8 million bucks in todays dollars to equal the buying power of about 1 million of 1950 dollars. Although 1 million is still a lot if you have it you aint wealthy.
Sep 23, 2021 18:10:47 #
Sep 23, 2021 18:21:51 #
scallihan
Loc: Tigard, OR
I have a bit less than $1 M net worth, and only income is SS $2k/month. I do not live extravagantly (not in my genes), but I live comfortably - can't complain. Healthy (so far), no mortgage, no car payment, no debt. In Portland! Can't do that in Los Angeles or New York City.
Sep 23, 2021 18:23:15 #
scallihan wrote:
I have a bit less than $1 M net worth, and only income is SS $2k/month. I do not live extravagantly (not in my genes), but I live comfortably - can't complain. Healthy (so far), no mortgage, no car payment, no debt. In Portland! Can't do that in Los Angeles or New York City.
Sep 23, 2021 21:18:33 #
Longshadow wrote:
Remember when Keds were 3 bucks?
Sep 23, 2021 21:20:14 #
SteveR wrote:
Remember when Keds were 3 bucks?
Haha, I REMEMBER Keds!!!
Always had a pair.
Sep 23, 2021 22:29:25 #
Longshadow wrote:
Haha, I REMEMBER Keds!!!
Always had a pair.
Haha, I REMEMBER Keds!!!
Always had a pair.
They were right next to my PF Flyers
Sep 24, 2021 01:37:35 #
Sep 24, 2021 07:40:50 #
You are forgetting the other side of the equation.
The average annual salary in the United States in 1950 was $3,210.
The average annual salary in the United States in 1950 was $3,210.
Sep 24, 2021 07:51:07 #
scallihan wrote:
I have a bit less than $1 M net worth, and only income is SS $2k/month. I do not live extravagantly (not in my genes), but I live comfortably - can't complain. Healthy (so far), no mortgage, no car payment, no debt. In Portland! Can't do that in Los Angeles or New York City.
Sep 24, 2021 07:51:10 #
Let's say you have some money but nowhere near one million. What are the guidelines for "poor"?
Sep 24, 2021 07:52:54 #
When prices from the old days are compared to today’s, don’t forget to take into consideration wages then compared to today’s. When that is done, the differences are many times not so much.
Sep 24, 2021 08:07:36 #
Canisdirus wrote:
You are forgetting the other side of the equation.
The average annual salary in the United States in 1950 was $3,210.
The average annual salary in the United States in 1950 was $3,210.
Many forget/don't think of that....
In instances where wages and costs both went up the same percentage,
the cost of living is basically the same, just larger numbers on both sides.
Sep 24, 2021 08:29:15 #
I'm glad I never accumulated a million dollars. I'd be so disappointed today. 
Remember the TV show "The Millionaire"? That's back when $1 million was a lot of money. The daughter of the Motorola guy got married on Cape Cod over the weekend, and they figure the father of the bride paid Bruno Mars $3 million to perform.
Remember the TV show "The Millionaire"? That's back when $1 million was a lot of money. The daughter of the Motorola guy got married on Cape Cod over the weekend, and they figure the father of the bride paid Bruno Mars $3 million to perform.
Sep 24, 2021 08:30:09 #
whfowle
Loc: Tampa first, now Albuquerque
When I graduated from high school in 1964, I was looking for a nice sports car. I remember the price of a Porsche 911 was $6,500. A Corvette coupe was $4,250, and a Shelby Cobra 289 sold for $6,000 at the Ford dealer. Today, it will take almost 1 million dollars to buy a mint Cobra.
My dad worked as the automotive electrician at the downtown Firestone store from 1935 till he retired in 1962. He was highly skilled, having graduated from the Sweeney Automotive school in Kansas City. In his time, auto electricians had to know how to build batteries from scratch, wind armatures for coils, starter motors and generators among other skills. Talents that today are not even considered. His highest pay in 1962 was $125 a week. Inflation has kept us all at about the same standard as then.
My dad worked as the automotive electrician at the downtown Firestone store from 1935 till he retired in 1962. He was highly skilled, having graduated from the Sweeney Automotive school in Kansas City. In his time, auto electricians had to know how to build batteries from scratch, wind armatures for coils, starter motors and generators among other skills. Talents that today are not even considered. His highest pay in 1962 was $125 a week. Inflation has kept us all at about the same standard as then.
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