A $4.03 hourly wage in 1973 had the same purchasing power that $23.68 would last year.

Is this where I blame baby boomers for ruining the country?

My dad paid 48k for our first house in the late 70s

I remember when minimum wage was $2.23 an hour..

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My dad paid 48k for our first house in the late 70s

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But the APR was like 18%.

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My dad paid 48k for our first house in the late 70s

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And what was his interest rate and down payment?

Think about that when your trying to determine how much money you might need for 30+ years of retirement.

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And what was his interest rate and down payment?

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I have no clue. I know rates were quite high in the late 70s. Probably 8-9% I'd guess.

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Think about that when your trying to determine how much money you might need for 30+ years of retirement.

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Thats the scary part. The wages are not nearly keeping up with inflation. A trip to the grocery store when i was a kid was 70 /80 bucks a week now for my family its about 200 a week. Thats just groceries.Savings i'm guessing will only get worse for most down the road.

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Thats the scary part. The wages are not nearly keeping up with inflation. A trip to the grocery store when i was a kid was 70 /80 bucks a week now for my family its about 200 a week. Thats just groceries. Its going to be scary times in the next 50 years for this country and the U.S. is a world leader compared to most.

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That's the thing about retirement. You don't know how much things will cost, you don't know if you will get SS or how much and you don't know how long you are going to live. It's just a guesstimate

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My dad paid 48k for our first house in the late 70s

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my grandfather paid roughly $70K for the house I grew up in. He bought it in 1979. He showed up with a bag of money. The builder didn't know what to do. As the story was told to me, my grandfather told the builder, "well...I give you the money and you give me the deed. It's pretty simple."