Woodznutz
Diamond Member
- Dec 9, 2021
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- #101
In my case that "factor" is pretty small, too small to calculate.The point has been proven. Inflation.....regardless of wealth, is "always" a factor in personal money management. You can save for decades, a lifetime, and through no fault of your own.....your purchasing power can be less at the end of your life than when you first began to save and manage.
Example: 5cents in the early 60s would purchase the equivalent of 5 dollars and 58 cents based on today's inflation chart (2026)
Back when a loaf of bread cost 30 cents minimum wage was 75 cents/hr. Today that same loaf cost $3 but minimum wage is $7.50. Both increased tenfold.