Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

Kelvin Mace

(17,469 posts)

3. I automatcally adjust for inflation

Reply to phantom power (Original post)

Mon Feb 17, 2014, 03:26 PM

Feb 2014

anytime I am discussing dollar values for goods/services more than 10 years in the past.

Rough rule of thumb to get the equivalent to today's value.

10 years in past - Multiply by 1.25
20 Years ago - Multiply by 1.50
30 years ago - Multiply by 2.00
40 years ago - Multiply by 5.00
50 years ago - Multiply by 7.00

Be aware that SOME goods did not keep up with inflation, and some exceeded it. Food, clothes and technology/appliances got cheaper; housing, medicine/medical care, cars got more expensive.

Wages have NOT kept up with inflation.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

6 replies

= new reply since forum marked as read

Highlight:

Median household income of $51K == $28K in 1990, $17K in 1980, $8K in 1970 [View all] phantom power Feb 2014 OP

$50 K is median household income in the US. El_Johns Feb 2014 #1

And this whole time I thought I was doing pretty well.... rgbecker Feb 2014 #2

I automatcally adjust for inflation Kelvin Mace Feb 2014 #3

50k today does not offer the life of 20k in the 80s. n/t PowerToThePeople Feb 2014 #4

That's about $10,000 raise in ten years...or $1,000 per year. Auntie Bush Feb 2014 #5

Tuition at my university in 1968 frazzled Feb 2014 #6