Compare your income to your fathers - you make more - but can you buy more with it ?

Question

I remember my father saying he made 52 dollars a week - it was apparently a lot of money -

10 bucks bought a lot of grocery's etc

Yeah I make a lot more than my dad - but it goes no where as far -

So I am curious - am I the odd man out -

My grandfather at one point was paid 8 cents an hour - again - apparently a lot of money

I have no idea what he made there after

But this man owned his own property raised 3 kids and went back to Scotland every year

My dad's quote is from the 50's and my grandfather's was somtime before the "Great war" WW one

Answer 1

Presently you dollar is worth $0.08 cents or less. Your fathers pay would have been worth in the 1950's the dollar was worth $0.98 cents on average.
See the effect of having a FED printing and controling the money supply instead of the Government of the U.S.A..
Don't understand what I mean?
watch this YOUTUBE VIDEO and see what few American even know about their own currency.

http://video.google.com/videoplay?docid=-9050474362583451279&q=money&hl=en

Answer 2

It may not seem that way since people are making purchases, have nice cars, and homes. My problem with that is everything is financed. How much of it do we really own. I don't own my car, the bank does. We work hard all our lives to finish paying off our houses with a 30 year mortgage.

It wasn't that long ago that an American working man could support a family, buy a home, and a car while saving for the future without going into debt. There wasn't such a hurry to have it all. people had what they needed and didn't know the meaning of spoiling their children with everything they want.

I Can't understand why property value is so high. It should be that we save, buy a home and pay for our children's college without interest eating a hole in our wallets.

Answer 3

We have much more crap at our disposal than our parents. Buying a car then was a major investment that most could not, now you just go down and sign a few papers and away you go. Most people didn't own TVs, luxuries like nice steaks, lobsters, crab, exotic fruits and vegetables, etc. were almost unheard of, much less accessible to normal people. Home ownership was a fraction of what it is today, and interest rates were more oppressive. Homes were much smaller. A 1200 sq. ft. home then was plenty for a family of 4 or 5. Now that's considered a shack. Air conditioning was pure luxury and, if available, consisted of a window unit in the living room.

We are so spoiled it's unbelievable. I feel bad.

Now where did I put my damn micro-brewery beer?

Answer 4

actually I doubt I make more than my dad. He's doing pretty well for himself, and he's still young enough to be in the workforce.

Though I'm not doing badly for myself, considering my house today, is 6-7 times the price his was in the 1970's.

I remember my mom stretching a $20 bill to last for 3 people (herself, my sister and me) for a whole week back in the 80's though. I certainly can't do that now.

Answer 5

In the 60's my father was making $30,000 a year. There has only been one year when I made more, and that was because I worked a whole lot of overtime that year. All other years I made less! Most of those years I made a lot less than that! *sm*

Answer 6

Wait a minute--how big was the house your father grew up in? How many cars did his family have? What about computers? Or televisions? Or the thousand other things that we have now that your father didn't have? How far does your money go now?

Answer 7

Yes, we make much more.
And we can buy much more.
We are a spoiled bunch of brats.

(Inflation is not rising. But wages are going up & up.)
AND SO IS BUYING POWER.

We are the wealthiest people in the history of the world.
But yet we whine.

Answer 8

My father worked 3 jobs to raise his family.

Yes i am much better off than my parents were at my age.

Answer 9

It is sad to see that wages are falling and inflation rate is rising under the Bush Administration !!!

Answer 10

make 1 tenth