What Would It Cost Today...Or Blow That Dough in the 80s

[Amethyst]

In 1980 I started as a GS-7 Step 1 at just under $14,000 per year. I had just moved up from Florida, where I'd been earning about $8,000 a year, and thought I'd hit the big time. Then I got my first biweekly paycheck - $212.00! I went pretty hungry for a while.

 

[eytonxav]

When I was a kid back in the 60's, $10K per year was considered Executive pay and a typical ranch style home was running about $15K.
In the 70's I remember a friend's parent's home sold for $90K. The catch is that it was a 25 room mansion with a carriage house on the nicest street in town and now would go for about $3MM.

If anything, this short thread (so far) should be a reminder on the dangers of inflation for retirees.

I grew up in Westchester County, NY. My dad worked as a steam fitter for Con Edison and was making about $9K/yr when he retired in 1969, many levels below an executive. Our house was purchased in 1951 for about $14K and then was sold in 1970 for $35K. House is now valued at $600K. It was a tiny house.

 

[dasranger]

First Macintosh computer had 128k of memory and retailed for $2495.00. I’m pretty sure I paid $500.00 for another 128k of RAM. Didn’t have a problem coming up with less than 2k for a new 27” IMac.

 

[Rustic23]

1966, 2nd Lt. in the Air Force on flight status - $250 take home every two weeks, and we thought we were rich!

 

[REWahoo]

In 1981 we bought a 5000 sq.ft. house on a one acre lot for $320k. Today it is worth $2.5 million! I feel sorry for young people working in Toronto today.

No Keith, you've got it all wrong: