I was looking for what the difference between the dollar fifty years ago and today. I'm wondering about the cost to replace the item if bought today. This calculator works for a compare, I found it interesting to compare different dates. Its on the right side and titled what is a dollar worth.
it's also good for "if i made $xx,xxx in year y, then the equivelant income would be $xx,xxx in year z."
social security brings your earnings list "up to today's dollars" to do your retirement calc. so do we. people don't beleive me that the $8000 they made in 1975 is the equivelant of $32000 today.
handy tool to have when your parents think you're crazy to spend $700 on a couch - "that couch you're sitting on only cost us $200" - i had such a calculator at the time and got to act shocked that my dad was suggesting i spend $1K on a couch! i'd point out him that i was spending two weeks gross salary on a couch. just like he had 30+ years before....