Please keep politics out of this thread!!
I'd like for it to not get shut down. Regardless of your thoughts on how we got here and where we're going, I think it's valuable to take the current trends and project them into the future to know where we stand.
@gcr0003, @kyler1945, and any other folks with new kiddos, I'd especially urge y'all to share any numbers you've crunched.
I just got done comparing and contrasting expenses now and 16-26 years ago. The numbers I looked at were:
I then took the percentage increase over that timeframe and assumed the same increase for the next block of time to get a rough feel for what the world could look like for my newborn when she goes to buy her first car, attend university, and buy a first home. That's about the best I can do with what I remember of the two stat courses I took a decade ago.
What I got was:
I'd like for whoever is so inclined to do the same and compare/contrast their results. And if anybody is more statistically adept than me (not hard) I'd especially like their figures and an explanation of how/why they got their calculations. My wife and I are already trying really hard to put ourselves and our kid ahead as much as we can, but what I'm trying to do is build the best case I can to encourage both of my siblings to start doing the same for their new kids.
I'd like for it to not get shut down. Regardless of your thoughts on how we got here and where we're going, I think it's valuable to take the current trends and project them into the future to know where we stand.
@gcr0003, @kyler1945, and any other folks with new kiddos, I'd especially urge y'all to share any numbers you've crunched.
I just got done comparing and contrasting expenses now and 16-26 years ago. The numbers I looked at were:
- Average new and used car cost 16 years ago vs now
- Average tuition cost for in and out-of-state 4 year schools now vs 18 years ago
- Average new home costs now vs 26 years ago
- Average median household income now vs 18 years ago
I then took the percentage increase over that timeframe and assumed the same increase for the next block of time to get a rough feel for what the world could look like for my newborn when she goes to buy her first car, attend university, and buy a first home. That's about the best I can do with what I remember of the two stat courses I took a decade ago.
What I got was:
- College costs went up 69% over the last 18 years
- New car prices went up 101%
- Used car prices went up 233%
- New home prices went up 165%
- Median Household income went up 75%
I'd like for whoever is so inclined to do the same and compare/contrast their results. And if anybody is more statistically adept than me (not hard) I'd especially like their figures and an explanation of how/why they got their calculations. My wife and I are already trying really hard to put ourselves and our kid ahead as much as we can, but what I'm trying to do is build the best case I can to encourage both of my siblings to start doing the same for their new kids.