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|Subject: Re: Calculating potential account growth & infla||Date: 9/19/2007 11:31 AM|
|Author: VikingErik||Number: 4403 of 5144|
There is a distinction between inflation and increases in the cost of living.
For example, the average price of a house has increased pretty steadily over the last couple of decades, but so has the size.
Good point. There's monetary inflation, and there's "lifestyle inflation". Fifteen years ago, hardly anybody paid for cellular phone service and Internet access. Now it's a routine part of life to pay $50 per month for each of those. Thirty years ago, air-conditioned homes were the exception, but that cost for electricity is now normal. Fifty years ago, hardly anybody paid auto insurance, until it became a government-mandated racket.
Fifty years from now, will we be paying flying car insurance? Mass transit teleportation tickets? Service fees for neural implant logon to the noumenal cyberunification mentality? Vacations to Disneyworld Luna or Mars? Maintenance costs for bloodstream nanorobotics? Who knows, but you can't go wrong by saving now... :)
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