I talked to an old gentleman the other day. He retired 15 years ago. I asked him if he got a cost of living allowance. He said no...ugh!
We got a 2% increase in Social Security but my Medicare went up $35 a month.
Hmmm.... I better check mine.
Who knows? With what is happening with tRUMP and the Republicans maybe inflation by 25%. All can't stay rosy with the stock market either. I'm no financial genius though.
It all depends on what inflation does. Right now the rate of inflation is pretty low, and has been for a little while. But with the current administration, who knows. When I was a kid a Coke and a candy bar were a nickel apiece.
That's less than my quarter...wow.
A quarter would buy you a hamburger.
@TommyMeador I remember that Tommy. I think McDonald's had a 15 cent hotdog.
When McDonalds opened in MA hamburgers were 18 cents. A coke was 10 cents and yes larger real chocolate candy bars were 5 cents. Hershey changed their formula-more air in it now-worked forthem 5 years.
@sassygirl3869 did you know that we sold wax to Hersheys? It refined it from crude oil. I worked a refinery...lol. we were eating dinosaurs and dead vegetation and whatever makes oil...lol.
In 15 years we may be using Renminbi/Yuan. The dollar will be worth zip.
I was thinking we would be using the Euro.
China is moving faster.
@evidentialist they own us already anyway
You can use an investment calculator to get an estimate of the future value of money in equivalent today's dollars. Instead of interest, simply put a negative rate for inflation.
Historical rates of inflation can be found documented all over; I used this: [usinflationcalculator.com]
Looking at the rates, I estimate that 3% annual rate of inflation would be a conservative number to use.
In 15years at an annual inflate rate of 3%, $100 would have the equivalent purchasing power of about $63 dollars today.
It'll still be $100. It's just won't buy as much as $100 today.
Well...ok. with inflation as it is. You say it want buy as much as today. How much is your as much?
It would depend on if the United States follows the example of war-footed Rome. Shed blood of innocents, and in the I,mortal words of Robert E. Heinlien, "...maintain a state of sustained violence." Or, you could be an optimist, and see the elimination of sovereign currencies entirely.
Ok... I got a little degree in machine shop. Could you simplify your answer for me?
30 yen?
Do I have to look up yen? Or could express your answer to dollars?
I was being sarcastic
@Gatovicolo well... heck... that's ok. I'm just happy. What would you think?
I’m not sure