DW & I were discussing the current debates in the media regarding if and how bad inflation might become and it triggered me to do this simple check. I graduated from my Masters program at Duke in 1970. The Millionaire Next Door was the rage and there was the TV program The Millionaire. My first job at a Fortune 100 megacorp almost broke the magic five figures.
Out of curiosity, I used the government inflation calculator (https://www.usinflationcalculator.com) to see what that 1970 Million dollars is worth today--7,036,159.79!
Our net worth while healthy and over a Million, it is nowhere near 7,036,159.79. For me, it was a real eye opener just how much inflation can take.
YMMV
Out of curiosity, I used the government inflation calculator (https://www.usinflationcalculator.com) to see what that 1970 Million dollars is worth today--7,036,159.79!
Our net worth while healthy and over a Million, it is nowhere near 7,036,159.79. For me, it was a real eye opener just how much inflation can take.
YMMV