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gas was 40c a galllon, min wage was $1.60 an hour, you cleared $1.25 an hour. working at the allis chalmers plant, you cleared $5 an hour, could buy 12 gallons of gas. a decent wage today would clear $40 an hour, which would take a gross wage of $65 an hour. Inflation is a killer. If you don't allow for CLEARING at least 5% per year, in your investing, you are being ruined.
gas was . between 30-34 cents here in new york city in 1970. i started driving that year so i rember. it dopped to .28 cents or so right after because i remember the sunrise highway gas wars shortly after that .. you even got soda with a fillup.
gas was 40c a galllon, min wage was $1.60 an hour, you cleared $1.25 an hour. working at the allis chalmers plant, you cleared $5 an hour, could buy 12 gallons of gas. a decent wage today would clear $40 an hour, which would take a gross wage of $65 an hour. Inflation is a killer. If you don't allow for CLEARING at least 5% per year, in your investing, you are being ruined.
Cars also got horrible mileage in 1970 compared to today. Cars also didn't last nearly as long as they do now. A car that got over 30 mpg and made it to 200k miles without an overhaul was unheard of.
I will say you're correct about the importance of investing. Indeed.
clearing 5% going forward can be a tough act. since 1950 the worst market returns were a little over 7% for equities before taxes and inflation over any 20 year period .
we had run ups in the 1980's which helped those returns quite a bit and those were by events that will not be duplicated .
i can tell you though that even that can grow a lot of dow over decades of time.
anything more than that on a consistant scale would require a business and not passive income. about the best you can ask from a passive investment is that it keeps your purchasing power and a little extra growth.
from 1987 to present im up about 1200% from my funds. thats about as good as it gets.
Gas at .40 cents per gallon. You guys are killing me. 20 gallons at $3.59 per. $71.80 this morning. There had to pay $250 for a tune up. Just to get 350 miles per tank maybe.
today we paid 10 bucks for 4 slices of pizza and 2 sodas.... when i was 13 i remember paying .90 cents.for all of it and im 59 today.
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Next time I'll add 3 zeros.
Stop I can not stand it!!!!
