Why Your $100 May Be Worth Much Less Than $100
NEW YORK (TheStreet) — The real-world value of $100 has receded over the years, thanks to the steady drip of inflation eating away at the value of a dollar, and that costs consumers at the checkout line, when paying bills and in paying for big-ticket items such as homes and college.
The value of $100 in 1969 dollars would be worth $645 now, while the value of $100 from 2014 would only $15.50 in 1969. That tells you how much inflation eats away at your money over time.
To further illustrate the point, check out the price of goods from 1969, according to data from 1960sflashback.com:
- Cost of a new home
|- Median household income:||$8,389|
|- Cost of a first-class stamp:||$0.06|
|- Cost of a gallon of regular gas:||$0.35|
|- Cost of a dozen eggs:||$0.62|
|- Cost of a gallon of Milk:||$1.10|
- District of Columbia ($84.60)
- Hawaii ($85.32)
- New York ($86.66)
- New Jersey ($87.64)
- California ($88.57)
- Mississippi ($115.74)
- Arkansas ($114.16)
- Missouri ($113.51)
- Alabama (113.51)
- South Dakota ($113.38).
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