3 ms·

Who said anything about $70k?

• Mtinie 9y ago
  Andre_Wanglin alluded to it, though $70k was a slight overstatement. With the effective inflation rate, $5,000 in 1947 was equivalent to $58,035 in 2018. https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=5000&year1=194701&year2=201803 https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=5000&year1=194...
  • Retric 9y ago
    He was using 5k inflation adjusted dollars so starting with ~350 actual $/ year in 1947. Really, just do the calculation.
• newnewpdro 9y ago
  Parent is stating $5k in 1943 dollars is $70k in 2018 dollars (a claim I did not verify).
  • garmaine 9y ago
    6.2% would be inflation adjusted returns. Actual inflation adjusted returns were 7.4%. So investing the equivalent of $5k each year from then until now (so starting at $350 or whatever) would yield >$8.2M.