Comment on Why a Six-Figure Salary No Longer Means You’re RichComments−NoMoreNicksLeft12yBecause inflation?−adventured12yYep. Since the year 2000:Median and average price of a home nationally is up about 50% (even worse in hot markets)US Dollar is down about 50% against the Swiss FrancUS Dollar is down about 40% against the Canadian DollarUS Dollar is down about 30% vs. the EuroGasoline is up over 200%Oil is up ~350%Gold is up 300%Silver is up 300%Cotton is up between 60% and 100%Corn is up 100%Average cost of a new car is up 40% to 50%And so onA $30k salary in 1990, is now roughly equivalent to $60k to $75k today. Six figures just doesn't buy anywhere near what it used to.−jahnu12yYeah. I'm not an American but adjusted for inflation $100,000 in 1985 would be $221,508.36 today. That's pretty rich. You'd be in the top 5% with that.
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Because inflation?
Yep. Since the year 2000:
Median and average price of a home nationally is up about 50% (even worse in hot markets)
US Dollar is down about 50% against the Swiss Franc
US Dollar is down about 40% against the Canadian Dollar
US Dollar is down about 30% vs. the Euro
Gasoline is up over 200%
Oil is up ~350%
Gold is up 300%
Silver is up 300%
Cotton is up between 60% and 100%
Corn is up 100%
Average cost of a new car is up 40% to 50%
And so on
A $30k salary in 1990, is now roughly equivalent to $60k to $75k today. Six figures just doesn't buy anywhere near what it used to.
Yeah. I'm not an American but adjusted for inflation $100,000 in 1985 would be $221,508.36 today. That's pretty rich. You'd be in the top 5% with that.