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Posted on 5/29/19 at 4:34 pm to LB84
quote:
All of these people have retired or are going to retire within the middle class
You are generalizing....again.
Posted on 5/29/19 at 4:34 pm to LB84
Yes, because wages actually grew with inflation and cost increases back then.
Posted on 5/29/19 at 4:35 pm to tide06
quote:
People don’t understand personal finance because it’s not taught in school.
You are pretty stupid if you are 50+ and don't grasp inflation and whine you weren't taught about inflation in school.
Posted on 5/29/19 at 4:36 pm to hubertcumberdale
quote:
They arent really fans of facts and statistics, just their own personal beliefs backed up by imaginary numbers in their head
And blaming the 35 and under crowd for everything. They've fricked this country up beyond repair and refuse to take any responsibility for it. Nope.
And I'm not saying all boomers are shitty humans. I'm just saying the majority are and I can't wait till that shitstain of a generation is gone so this country can rebuild.
Posted on 5/29/19 at 4:36 pm to JudgeHolden
Needing so much in loans means you couldn't get scholarship money.
Lol I did it on purpose Mr "I'm smarter than you"
quote:
ETA: Your statement defeats itself by discrediting its source (you) through content.
In other words, you shouldn't misuse English when calling someone dumb.
Lol I did it on purpose Mr "I'm smarter than you"
Posted on 5/29/19 at 4:37 pm to ExtraGravy
This is true too. Remember in 1980 a 27" TV was $1000, a VCR was $2000 and if you wanted a HUGE 5mb hard drive for your computer, that was $2500. ..
Posted on 5/29/19 at 4:42 pm to JudgeHolden
quote:
Just undergrad.
Tell me more about this $28k of debt "back in the day."
How long ago?
Posted on 5/29/19 at 4:43 pm to slackster
quote:
Tell me more about this $28k of debt "back in the day."
How long ago?
He must have went to the most expensive school in the country at the time, for 8 years
Posted on 5/29/19 at 4:56 pm to TH03
quote:
For a median home price of $47k in 1980. ?
Which is $145k today.
Cheap money is one of the reasons for housing inflation. That 145k house at 18% would cost about the same over 30 years as a 450k house at 4%
This post was edited on 5/29/19 at 4:57 pm
Posted on 5/29/19 at 4:57 pm to JudgeHolden
You had $28k in student debt from undergrad alone, and you're calling other people morons. 
Posted on 5/29/19 at 5:01 pm to JudgeHolden
Where the hell did you go to school that you incurred 7g of debt per year?
Posted on 5/29/19 at 5:09 pm to LB84
Tell your MIL that her daughter married an idiot
Posted on 5/29/19 at 5:13 pm to fallguy_1978
quote:
Cheap money is one of the reasons for housing inflation. That 145k house at 18% would cost about the same over 30 years as a 450k house at 4%
It's all relative to wages. The median is the median. The only caveat with homes today is they're much bigger on the whole, but the price per square foot has still grown faster than inflation last I checked.
Posted on 5/29/19 at 5:28 pm to zeebo
quote:
The vast majority do not.
That's the case over here. If anything, I overuse the inflation calculator and yearn for the days when we had real buying power with salaries like $7 an hour. She was able to live very well with her 1980 purchasing power.
If your MIL thinks $7 an hour in 1980 isn't living the dream, tell her with that salary she could pay cash for a brand new 1/2 ton Ford truck...EVERY 2 MONTHS!!!
And if that doesn't tell her she was affluent at the time... tell her that her yearly income had buying power equal to paying cash, at list price, for THREE brand new 2 door BMW coupes and drive all three away with clear titles every year!! To have the tangible buying power she had with her poor little $7 an hour salary in 1980 would take about $60 an hour today.
Posted on 5/29/19 at 5:33 pm to LB84
Many people of all generations do not understand time-value-of-money concepts...
Posted on 5/29/19 at 5:35 pm to LB84
quote:
I told her that 7 bucks in 1980 is equivalent to 21.71 today. Pretty damn good job for out of college.
Nurses make way more than that today.
Posted on 5/29/19 at 5:36 pm to LB84
op. please listen to me
never conversate with boomers. biggest freaking waste of life possible
they constantly lie thinking the information age never happened and we cannot look up any data at the click of a button. its fascinating
never conversate with boomers. biggest freaking waste of life possible
they constantly lie thinking the information age never happened and we cannot look up any data at the click of a button. its fascinating
Posted on 5/29/19 at 5:47 pm to LB84
My pet peeve: people who think inflation is 100% bad. Wages are just one more price, and are just as much a part of inflation as anything.
In fact, as much debt as the typical American has, hyperinflation might be the best possible thing that could happen to a lot of people.
In fact, as much debt as the typical American has, hyperinflation might be the best possible thing that could happen to a lot of people.
Posted on 5/29/19 at 5:51 pm to Napoleon
(no message)
This post was edited on 5/29/19 at 5:59 pm
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