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Started By
Message
Why do people 50+ disregard inflation calculators?
Posted on 5/29/19 at 3:44 pm
Posted on 5/29/19 at 3:44 pm
Mother-in-law giving me a sob story about how when she got out of nursing school in 1980 she only made 7.00 dollars an hour. I told her that 7 bucks in 1980 is equivalent to 21.71 today. Pretty damn good job for out of college.
“Doesn’t matter what machine you put it in it was 7 dollars an hour.”
It’s like it doesn’t register in their mind that their purchasing power was quite good for the time period.
Rant over.
“Doesn’t matter what machine you put it in it was 7 dollars an hour.”
It’s like it doesn’t register in their mind that their purchasing power was quite good for the time period.
Rant over.
40
Posted on 5/29/19 at 3:46 pm to LB84
People don’t understand personal finance because it’s not taught in school.
Posted on 5/29/19 at 3:46 pm to LB84
Ask her what she paid for nursing school and put that in your inflation calculator.
Posted on 5/29/19 at 3:46 pm to LB84
The vast majority do not.
Posted on 5/29/19 at 3:47 pm to LB84
My dad was making $7/hr as a plant baw in the late 60s. He said he was raking the cash in. Lol!
Posted on 5/29/19 at 3:48 pm to LB84
Wait until you reach that age and get back to me.
Posted on 5/29/19 at 3:49 pm to LB84
My mom only stores her money in a savings account. I tried to explain that inflation will outpace her interest, but it wasn't getting through to her.
Posted on 5/29/19 at 3:49 pm to LB84
On the flipside, mortgage rates in 1980 were around 15-20%.
Posted on 5/29/19 at 3:50 pm to LB84
Old people in general suck. Young people also suck but for different reasons. I can feel myself going from youthful and ignorant yet open to new things to wiser yet more stubborn.
Posted on 5/29/19 at 3:50 pm to The Spleen
quote:
On the flipside, mortgage rates in 1980 were around 15-20%.
For a median home price of $47k in 1980.
Which is $145k today.
This post was edited on 5/29/19 at 3:52 pm
Posted on 5/29/19 at 3:51 pm to The Spleen
And CDs paid 10%
Posted on 5/29/19 at 3:51 pm to LB84
(no message)
This post was edited on 11/22/20 at 4:26 pm
Posted on 5/29/19 at 3:53 pm to LB84
I don’t.
And let me point out to the whiny assed millennials that from an inflation adjusted standpoint, my college debt was TWICE the average load of today’s grad. Yet I was able to buy a house. And get a real job. And pay it off. And get married. And raise kids. You know, all the stuff they say they can’t do.
Oh yeah, and my first mortgage was two or three times today’s cheap interest rates.
And let me point out to the whiny assed millennials that from an inflation adjusted standpoint, my college debt was TWICE the average load of today’s grad. Yet I was able to buy a house. And get a real job. And pay it off. And get married. And raise kids. You know, all the stuff they say they can’t do.
Oh yeah, and my first mortgage was two or three times today’s cheap interest rates.
Posted on 5/29/19 at 3:55 pm to LB84
I think more people refer to old prices for nostalgia purposes than actually not understanding the relative values.
Posted on 5/29/19 at 3:55 pm to JudgeHolden
quote:
my college debt was TWICE the average load of today’s grad
Sorry you dumb.
quote:
Yet I was able to buy a house. And get a real job. And pay it off. And get married. And raise kids. You know, all the stuff they say they can’t do.
Weird. We're doing this too. Well I say we, but I have and had no college loan debt.
This post was edited on 5/29/19 at 3:55 pm
Posted on 5/29/19 at 3:55 pm to LB84
Tell her cars were only$3,000.00 back then, too. Gas was .50c a gallon- I remember.
Posted on 5/29/19 at 3:56 pm to jlovel7
quote:
Old people in general suck. Young people also suck but for different reasons. I can feel myself going from youthful and ignorant yet open to new things to wiser yet more stubborn.
Somehow that makes sense, but I don’t know how.
Posted on 5/29/19 at 3:58 pm to LB84
quote:
nursing school
Found the main issue
Posted on 5/29/19 at 4:00 pm to JudgeHolden
quote:
And let me point out to the whiny assed millennials that from an inflation adjusted standpoint, my college debt was TWICE the average load of today’s grad. Yet I was able to buy a house. And get a real job. And pay it off. And get married. And raise kids. You know, all the stuff they say they can’t do.
You literally missed the entire point
Posted on 5/29/19 at 4:00 pm to jlovel7
quote:
more stubborn.
Because you realize much of the pie in the sky promises is bullshite marketing.
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