A lot has changed since the 1960’s. The Beatles’ global fame has been swapped out by the popularity of tween boy band One Direction, the cost of a Hershey bar has raised substantially, and we finally publicly acknowledge just how unhealthy cigarettes truly are.
But that’s not all. The sixties were defined by the launch of a new era. After the war, there was a surge in the number of births that amounted to what we now recognize as the baby boomer generation.
Baby boomers are comprised of the people born between 1946 to 1964, most of whom range in age from 51 to 69, as of 2015. But baby boomers are not just defined by a range of age numbers. This term encompasses a group with an inherently strong cultural identity.
As a group, baby boomers were known to redefine the rigid social norms of the generations before them as they grew up. They are also known to be the most actively fit and wealthy generation up to that time, enjoying the highest levels of income that neither their parents as a group experienced before them, nor their children after them. The sheer volume of their numbers meant increased consumerism and an economic boom.
At American Advisors Group, we proudly serve the baby boomers in our community with admiration and respect. Today, we launched a comparative, interactive graphic that highlights some of the major cost differentials between the products of the sixties and the products of today.
For starters – a McDonald’s Big Mac that was only $0.28 in 1963 costs a whopping $3.99 today. We think of fast food as being cheap, but compared to the past, that’s a hefty price.
A state of the art refrigerator fifty years ago cost around $500. That’s a pretty penny. But compare it to today’s prices, and it seems like a bargain. In 2014, a consumer might spend $1,500 on a new fridge.
Finally, there’s the cost of home ownership. In the sixties, the average cost of a new house was less than $20,000. Today, the average cost is more than $152,000.
See more details about how prices have changed since 1963. From small necessities such as bread, milk, and eggs, to luxury items such as fancy cars and appliances, products have always made up the fabric of typical American life, and continue to do so to this day. And of course, closely tied to these products are the prices it took in order to attain them.
Take a nostalgic trip down memory lane with American Advisors Group and check out how the cost of living has shifted over the course of the years. You just might be surprised by some of the changes.