Join Early Retirement Today
Closed Thread
 
Thread Tools Search this Thread Display Modes
I live in the past about the value of a dollar
Old 11-10-2015, 12:27 PM   #1
gone traveling
 
Join Date: Nov 2015
Posts: 45
I live in the past about the value of a dollar

I go to mcdonalds yesterday, I had coupons, I like Big Macs, I like them when I have a coupon for buy one get 1 free. I had to drag my bride there because you can only use 1 coupon per visit. But that isn't the just of the post, I ask the manager if the minimum wage goes to 15 an hour as is the current law proposed can I fill out an application. He goes to the corner, pulls out a stack a inch or so high and said he has about 100 applications from retirees (the bride says he said old people) that will work if the minimum wage goes up. I guess we would be displacing career fast food workers. The bride scolded me the whole walk home that I wouldn't really take a job for 15 bucks . I told her my first job was for 2.10 an hour that they had a youth minimum wage in my state 39 years ago. She didn't care about the history lesson and that 15 bucks is not what I think it is. I'm sure she is right she always is just ask her, but when I hear prices I'm locked in the 70's. For example , You make 50,000 a year wow that's a great job, rib eye steaks are 17 dollars a pound? Are they nuts!, a Hyundai is not still 5999! College is 40,000 a year what are they smoking .I paid 35 a credit at a top private school(NYU) and I thought that was insane. I don't do the active food shopping, I tag along to carry the bundles, I can't look at the price of anything without thinking its a complete rip off. Houses! A doctor bought the one my neighbor had, a working stiff like me with one income like we did cant buy these things. So am I a relic about money, when I ran my numbers I factored in 60,000 after tax a year, thinking I'm a big spender but 60,000 is chump change it seems.
__________________

__________________
I earned it is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-10-2015, 12:37 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,438
Quote:
Originally Posted by I earned it View Post
... The bride scolded me the whole walk home that I wouldn't really take a job for 15 bucks . I told her my first job was for 2.10 an hour that they had a youth minimum wage in my state 39 years ago. She didn't care about the history lesson and that 15 bucks is not what I think it is...
The official cumulative inflation from 1976 till now, a period of 39 years, is 320%. This means $1 back then is worth $4.2 now. So, the $15/hr job now is equivalent to $3.57/hr back then.

Does that seem about right? I cannot remember what minimum wage was back then, but it must be lower than $3.57.

PS. I do remember an engineering graduate making $17-19K for the first job out of school. That is equivalent to $71-80K now. That seems roughly right.
__________________

__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline  
Old 11-10-2015, 12:43 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Apr 2005
Location: Midwest
Posts: 1,573
Unfortunately I am too aware of the value of a dollar these days. You're right about some things a working stiff used to be able to buy are only for the truly well-off today.

Quote:
told her my first job was for 2.10 an hour
Were you hired by your father's law firm? (joking) My first (real) job was for a min wage of $1.60.
__________________
razztazz is offline  
Old 11-10-2015, 12:43 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Mar 2011
Posts: 3,708
Yeah, you're a relic. I remember when $10K was 'executive pay'!

Reminds me of a neighbor who only had his house insured for $12,000 because "that's what I paid for it in 1938".

It's now worth maybe $2-3M and his heirs had a rough time explaining to the insurance company why they wanted to up the insurance by $2 million!.

But remember this: 50 years ago, a decent TV cost about $400 (still does); most appliances are now more affordable, you can phone anywhere in the world for pennies; some things have gone up, others down.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is offline  
Wow thank you
Old 11-10-2015, 12:47 PM   #5
gone traveling
 
Join Date: Nov 2015
Posts: 45
Wow thank you

It was 1976 when I was getting 2.10. Like I said it was the youth minimum wage I think the regular minimum wage was 2.40, but I'm not positive
__________________
I earned it is offline  
Old 11-10-2015, 12:53 PM   #6
gone traveling
 
Join Date: Nov 2015
Posts: 45
I'm glad I'm not alone. I feel better, I'm not telling stories about the depression like my parents told me , these things are in my recent past, but now that I think about it , their depression stories told to me in the late 60's and early 70's are the same timeframe. Omg I'm getting old. My dad used to say he saved it a penny or a nickel at a time now he spends it by the dollar.
__________________
I earned it is offline  
Old 11-10-2015, 12:56 PM   #7
gone traveling
 
Join Date: Nov 2015
Posts: 45
Quote:
Originally Posted by razztazz View Post
Unfortunately I am too aware of the value of a dollar these days. You're right about some things a working stiff used to be able to buy are only for the truly well-off today.



Were you hired by your father's law firm? (joking) My first (real) job was for a min wage of $1.60.
It was a corner fruit and vegetable store, I got the job off of the bulletin board at my schools employment office, where I got my working papers, and where I applied for a soc sec card. Could not work more than 20 hours a week and and not after 8 pm, except on Saturday then it was 10 pm. Those were the youth 14-16 rules
__________________
I earned it is offline  
Old 11-10-2015, 01:02 PM   #8
gone traveling
 
Join Date: Nov 2015
Posts: 45
I know it's not a lot of money , but the number just sounds high to me. I then proceeded to fantasize-about the job to her, she entertains my dreams. I told her I would do breakfast at Mickey d,s. Get up early be home maybe by 2 pm just maybe 2 days a week, Sort of pocket, walking around money. She said if It would get me out of her hair I should worked 3 days , HAHA.
__________________
I earned it is offline  
Old 11-10-2015, 01:09 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 1,905
1969, Austin, Moreburger, $1.15/hr and the first paycheck bounced! When I, very irate, complained to the manager he laughed and said "you did what? you dumb a.. just put it in the till and take the money out..."
__________________
ejman is offline  
Old 11-10-2015, 01:17 PM   #10
gone traveling
 
Join Date: Nov 2015
Posts: 45
Quote:
Originally Posted by ejman View Post
1969, Austin, Moreburger, $1.15/hr and the first paycheck bounced! When I, very irate, complained to the manager he laughed and said "you did what? you dumb a.. just put it in the till and take the money out..."
sure, I got a pay envelope with some numbers written in pencil on it
__________________
I earned it is offline  
Old 11-10-2015, 01:25 PM   #11
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,972
Quote:
Originally Posted by I earned it View Post
I know it's not a lot of money , but the number just sounds high to me. I then proceeded to fantasize-about the job to her, she entertains my dreams. I told her I would do breakfast at Mickey d,s. Get up early be home maybe by 2 pm just maybe 2 days a week, Sort of pocket, walking around money. She said if It would get me out of her hair I should worked 3 days , HAHA.
If, like most people on this site, you worked in a cushy office job for most of your career, I think you would very much dislike working in a fast food restaurant. Working in fast food would require you to do actual work. You would be tired and sore all the time, not to mention you would smell(sweat and grease). My body hurts just watching the 20 year olds running around in back. I couldn't imagine a retiree trying to do that job.
__________________
aaronc879 is offline  
Old 11-10-2015, 01:30 PM   #12
Recycles dryer sheets
 
Join Date: Jun 2014
Posts: 488
I just think that if you don't pay attention it can be shocking how much some things go up, but I was likewise shocked when I bought a blueray player for $50 last year with Netflix and amazon preloaded. I do know that now that I'm not getting a regular paycheck I'm certainly paying more attention.

btw, I with you on the mcdonalds thing. Not that $15 is a lot of money, its that if people are all making at least $15/hr I may have to work to keep up with the inflation that ensues. I'm been delaying buying a house but have to believe that would also impact lower cost housing since if a couple working at mcdonalds can make $60k per year, a $200k house is not out of the question.. If nothing else if it just provides social time and you don't mind it, why not. I loved my taco bell days...and I know lots of people dreaming of retiring to be a starbucks barista.
__________________
karen1972 is offline  
Old 11-10-2015, 01:31 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 2,056
Quote:
Originally Posted by aaronc879 View Post
If, like most people on this site, you worked in a cushy office job for most of your career, I think you would very much dislike working in a fast food restaurant. Working in fast food would require you to do actual work. You would be tired and sore all the time, not to mention you would smell(sweat and grease). My body hurts just watching the 20 year olds running around in back. I couldn't imagine a retiree trying to do that job.
I never did fast food, but I did work for Denny's in 1988-90 (dishwasher, host, waiter) and then as a delivery driver for Little Caesar's and Papa John's from 1996-2001. I used to think I could go back to one of those types of jobs, if I really had to...either as a second job, or even a full time.

But, too much water has passed under the bridge. I was in college when I waited tables. And when I started delivering pizzas, my main job was logistics, so I was in better shape. I did move to a cushier office position in 1997, but I was only 27 at the time, and the pizza job kept me moving.

Now that I'm 45, I'd hate the idea of going back to one of those types of jobs. And I'm sure that at 55 or 65, I'd hate it even more. I'd do it if I had to, though.
__________________
Andre1969 is offline  
I was a cop
Old 11-10-2015, 01:31 PM   #14
gone traveling
 
Join Date: Nov 2015
Posts: 45
I was a cop

Quote:
Originally Posted by aaronc879 View Post
If, like most people on this site, you worked in a cushy office job for most of your career, I think you would very much dislike working in a fast food restaurant. Working in fast food would require you to do actual work. You would be tired and sore all the time, not to mention you would smell(sweat and grease). My body hurts just watching the 20 year olds running around in back. I couldn't imagine a retiree trying to do that job.
My day was not cushy, I pounded the pavement to the last day, my body was sore more often at the end as the youth of today punch harder especially when your in your 50,s. I smelled awful after body fluids were flung on me during protests. I think a position at the French fry machine is something I could handle. With the added bonus to the boss, if the place decides to get robbed and they start killing patrons I'll be the first to try to stop the carnage.
__________________
I earned it is offline  
Old 11-10-2015, 01:34 PM   #15
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
My first job paid minimum wage, $1.40/hour. IIRC you could get a fast food burger for $0.25 at the time, but I couldn't afford one.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline  
Old 11-10-2015, 01:38 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,019
Nostalgia just ain't what it used to be.
__________________
Meadbh is offline  
Old 11-10-2015, 01:42 PM   #17
Thinks s/he gets paid by the post
frayne's Avatar
 
Join Date: Oct 2002
Location: 19th Hole
Posts: 2,535
I agree a dollar just ain't what it use to be. BTW, first real job was .85 an hour bussing tables and washing dishes. I think today's prices for most goods are not decent values either. One of the reason I almost always ask is, can you do better or cut me a deal. Recently got $65 off an annual membership at a shooting range and about $200 off a gym membership. Doesn't hurt to ask.
__________________
A totally unblemished life is only for saints.
frayne is offline  
Old 11-10-2015, 01:50 PM   #18
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,044
I am not that old, but I still convert prices in the currencies that I grew up with -the Swiss and French Francs (and I have not lived in Europe for nearly 20 years!). When I was in college in the early 1990s in France, my monthly budget after paying for my rent was 900FF. That's roughly $150.
__________________
FIREd is offline  
Old 11-10-2015, 01:54 PM   #19
Full time employment: Posting here.
GravitySucks's Avatar
 
Join Date: Feb 2014
Location: Syracuse
Posts: 994
1973 we worked 22 hours a day and all we got for that was a beating before bed.... And we were darned glad too get it!
( queue up the Four Yorkshire Men )



Sent from my iPad using Early Retirement Forum
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
GravitySucks is offline  
Blue collar guy here
Old 11-10-2015, 02:00 PM   #20
gone traveling
 
Join Date: Nov 2015
Posts: 45
Blue collar guy here

Quote:
Originally Posted by aaronc879 View Post
If, like most people on this site, you worked in a cushy office job for most of your career, I think you would very much dislike working in a fast food restaurant. Working in fast food would require you to do actual work. You would be tired and sore all the time, not to mention you would smell(sweat and grease). My body hurts just watching the 20 year olds running around in back. I couldn't imagine a retiree trying to do that job.
You must really feel bad for the elderly waitresses we see at the diners running around like mad , serving unruly people . Not everyone in here that retired early pushed pencils. Retirees are working in these industries an d for less that the 15 dollars I mentioned
__________________

__________________
I earned it is offline  
Closed Thread


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Less likely to live past 100 ... really? robnplunder Other topics 4 04-16-2014 08:34 PM
A new thread on Other Topics: Poll: Replace the Dollar Bill with a Dollar Coin? kyounge1956 Other topics 38 08-16-2010 05:44 PM
Questions, strong dollar or weak dollar ? frayne FIRE and Money 7 10-01-2007 08:59 PM
IJS vs. VBR (iShares small value & Vanguard small value) Fttaw FIRE and Money 1 01-22-2007 05:10 PM
Value Risk and the Value Premium ESRBob FIRE and Money 7 12-08-2004 06:00 PM

 

 
All times are GMT -6. The time now is 02:24 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.