Tell us something we don’t know.

[two_bit_score]

Just to make you feel old... $20 in 1990 is nearly $50 today.

They must think inflation makes them richer.

 

[scootr]

They must think inflation makes them richer.

Right. In reality they are getting $20 because the $15 they get is only worth $10 when they spend it. Way to go goberment. I mean who would have thought that printing billions of dollars and raising interest rates would devalue the dollar and cause inflation?

 

[orezok]

Right. In reality they are getting $20 because the $15 they get is only worth $10 when they spend it. Way to go goberment. I mean who would have thought that printing billions of dollars and raising interest rates would devalue the dollar and cause inflation?

Inflation or recession. Choose your poison.

 

[ultrarunner]

American money | USAGov

Learn about U.S. money, including the denominations of bills and coins. Find out how U.S. currency is made, its history, and how to recognize counterfeits.

www.usa.gov

More than you probably wanted to know about currency.

One is all US currency is valid for circulation and $10,000 bills were the highest for regular circulation

I've got a few old or unusual bills.

Silver and Gold certificates, Hawaii Printed bills, Bills that are over size from a 100 or more years ago...

 

[ultrarunner]

United States one hundred-thousand-dollar bill - Wikipedia

en.wikipedia.org

The illusive $100,000 note...

 

[ultrarunner]

Gold certificate (United States) - Wikipedia

en.wikipedia.org

 

[5030]

I remember one time a long time ago we ate at some beanery and the waitress was horrible so I lleft her a half dollar tip stuck in the butter plate that came with our meal. She really wasn't even worth a half dollar but I wanted to make a point. That place folded years ago, no loss. The grub wasn't that good either.

We eat at the local (Dundee, Michigan) Applebees regularly and always specify where we want to sit because the server in that section is fantastic and we have gotten to know her. She always gets a substantial tip and now Applebees rolls the tips into the check, which we subtract and give her the tip directly.

 

[Pixguy]

The way things are going our total net worth has increased significantly in the past few years compared to the 4 before it, where it went down.

So yes, we are better off today than we were several years ago.

I'm not sure why that's not the case for others in my demographic? And definitely why it's not the case for folks that make more than us.

Wife and I make a tad less than average wages combined for a married couple. I make less, she makes more. We live below our means.

Does anyone do a net worth statement anymore? I ask my coworkers, and they all say NO. I tell them to do it for themselves. They all say NO. I ask why? They shrug their shoulders. I can't figure it out.

We've done a net worth statement at least annually since we got married. Now that things are electronic, it's even easier. It all goes into our financial software and updates almost daily.

Seriously?



I see now two-bit-score said what I was thinking.

 

[Fuddyduddy1952]

The way things are going our total net worth has increased significantly in the past few years compared to the 4 before it, where it went down.

So yes, we are better off today than we were several years ago.

I'm not sure why that's not the case for others in my demographic? And definitely why it's not the case for folks that make more than us.

Wife and I make a tad less than average wages combined for a married couple. I make less, she makes more. We live below our means.

Does anyone do a net worth statement anymore? I ask my coworkers, and they all say NO. I tell them to do it for themselves. They all say NO. I ask why? They shrug their shoulders. I can't figure it out.

We've done a net worth statement at least annually since we got married. Now that things are electronic, it's even easier. It all goes into our financial software and updates almost daily.

Sounds like us (52 years this year). The key thing you said was "We live below our means." which most people don't do today.
When I hear about high "median home" prices research and you see this...but in my 20s I'd be looking at something like the old house like the second picture with a few acres. As long as it's structurally sound, roof doesn't leak it could be rewired, new plumbing, kitchen, windows, etc. which is what I did over time as I got money. I could add an addition, nice driveway...all that stuff.
I think lots of young people want to start off new and fairly large...maybe they don't know how to repair things.

 

[BravoXray]

Does anyone do a net worth statement anymore? I ask my coworkers, and they all say NO. I tell them to do it for themselves. They all say NO. I ask why? They shrug their shoulders. I can't figure it out.

We've done a net worth statement at least annually since we got married. Now that things are electronic, it's even easier. It all goes into our financial software and updates almost daily.

When I was in business, I had to submit a financial statement to the bank every year if I had any outstanding loans. After they were all paid off, I kept doing the statements for my own information about just where I stood financially.
Information is always a good thing to have.