June 12, 2014

How Much in The Next Generation?

Everything is expensive nowadays, correct?  Just think the price of just about everything has increased dramatically in one generation than perhaps ever before.  Have you ever heard your parents reminisce about when the cost of gas was $0.50/gallon?  Or when a loaf of bread was a nickel?  A gallon of milk cost a dime?

I wonder sometimes what bits of information will our memory hold to the next generation?  Can you imagine talking to a son or daughter, 20 or 30yrs from now, about how things were when you were a kid?  My story would probably sound a little like this:

"I remember when I was 16 and got my first car...a used 1981 Oldsmobile Cutlass.  The price of gas would fluctuate anywhere from $0.85 to $1.00/gallon.  I could get by a whole week on $5 depending on how far I drove...which was usually between school, football practice, and home.  Interest rates were high - but I didnt pay too much attention to it because I had no need for a loan at such a young age.  But I do remember when having $20 dollars felt like a lot of money...that meant gas for the entire month!  Milk was like, $1.50 a gallon...I bought my PlayStation 1 for about $100...everything was fairly affordable.

My first job was at Publix Supermarket and I was a grocery bagger...I made about $70 week there working part-time.  No wait, let me back up...my first job - I used to sweep floors at Iron Mountain...up and down those long aisles of anonymous boxes belonging to several companies.  I was 15yrs old and remember I made $5/hr there...I remember my mom telling me that it was a good job and I should be happy.

Between these two jobs it allowed me to buy my first car - for about $650...which I had saved from working part-time.  By the summer of 1999, before I'd left for college, I was making about $400/week at my 3rd job, which was Ford Motor dealership...I was washing and detailing cars.  I was making enough money to have an apartment and support a small family lol...but I saved mostly every penny to help pay for a few things to get me started for college."

That was back then...a simple time when a teenager could get a job and buy the simple things in life...a car, clothes, video games, etc.  Now video games start at $400, used car prices are astronomical, food, clothing, etc. have all drastically increased.

So as the global economy expands and wealth is consolidated or concentrated to the global 1%...that means less for the rest of us...or perhaps it means, it will be much harder to live comfortably and maintain your standard of living in the future.  Given these highly probable expectations...or adjustments - what are you doing to adjust accordingly?  What are you doing to prepare the next generation or what are you doing to prepare yourself?


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