Inflation in my father's adult years increased average prices 1,000% or more -
Example 1: a postage stamp in the 1950s cost 3 cents; today's cost is 37 cents - 1,233% inflation;
Example 2: a gallon of full-service gasoline cost 18 cents before; today it is $2.28 for self-service - 1,267 % inflation;
Example 3: a new house in 1959 averaged $14,900; today it's $282,300 - 1,795% inflation (+1,510% if quality-adjusted);
Example 4: a dental crown used to cost $40; today it's $740 - 1,750% inflation;
Example 5: an ice cream cone used to cost 5 cents; today its $2.50 - 4,900% inflation;
Example 6: monthly Medicare insurance premiums paid by seniors was $5.30 in 1970; its now $78.20 - 1,475% inflation;
Example: several generations ago a person worked 1.4 months per year to pay for government; he now works 5 months.
And in the past, one wage-earner families lived well and built savings with minimal debt, many paying off their home and college-educating children without loans.
How about today? [Reference: Grandfather Inflation Report]
If there is anything to learn from the above, it is this...
1) I should've bought an ice cream truck.
2) The show "Six Million Dollar Man" (aka Steve Austin) would have costed about 87 million today. (Here's the Theme Song) No wonder the networks won't fund anything like that now!