In the coming weeks, graduation will be here for many students. You may even be attending one of your own who will be celebrating that big day.

Many of my readers may be reminiscing of those years in the past when you were throwing up your mortarboard. How the years have flown by. It seems like only yesterday, and we were ready to set out and conquer the world.

This year I have two grandchildren who will be graduating from college. When did I get that old? I am so happy and privileged to behold their accomplishments and hope that they will also experience all the wonderful things that life has given me.

The other day one of my grandchildren said to me, “Gram, the world is going too fast.”

Yes, I understood what he meant. However, I was ready to explain to him that every generation sees a vast amount of changes-some good, some bad.

After graduation and some years of hard work we had the hopes of buying our first home. Now we are seeing a change in the real estate market that is affecting the next generation in purchasing. A starter home has become out of reach for most of the younger generation.

Many of us will remember when we purchased our first home. I remember the interest rate was around 18%. Today we can’t imagine getting a loan at the astronomical rate of 18%. It was tough. The homes in those days were not the price of today’s homes but putting it in perspective our wages were comparable to today’s. It’s all part of inflation and technology.

I thought you would like to see the way inflation has taken over since the 1960s.

• How much money would it take to buy a house in the 1960s?

In 1960, the median home cost $11,900, while the median income was $5,600, indicating a price-to-income ratio of 2.1. By contrast, in 2019 the median home cost $240,500 with an estimated median income of $68,703, a price-to-income ratio of 3.5.

• What was the average salary in 1960?

A year-round full-time salary for male workers in 1960 was $5,400, $200 above 1959, and $500 and $700 higher than in 1958 and 1957, respectively. Women’s incomes, which averaged $1,300 in 1960, remained about the same as in the preceding three years.

• What was the average hourly wage in 1964?

Wages in the United States averaged 12.47 USD/hour from 1964 until 2024, reaching an all time high of 29.79 USD/hour in March 2024 and a record low of 2.50 USD/hour in February of 1964. (Source: U.S. Bureau of Labor Statistics)

How much is $100 in 1960 worth today?

$100 in 1960 has the same purchasing power as $1,016.35 in 2024. Over the 64 years this is a change of $916.35. The average inflation rate of the dollar between 1960 and 2024 was 1.92% per year. The cumulative price increase of the dollar over this time was -100.00%.

How much did things cost in the 1960s?

• Loaf of bread – 16 cents

• Pound of bologna – 15 cents

• Potatoes –4 cents a pound

• Bottle of cooking oil – 10 cents

• Gallon of ice cream – 59 cents

• Pound of coffee – 18 cents

• Light bills were $15 or less a mo

• Movie ticket – $1.25 ea

• Gasoline – 30 cents per gallon

• US postage stamp – 5 cents each

• Eggs 34 cents/dozen

So, I guess we look at what things cost in the 1960s and we can see how inflation has brought about changes through the years.

Yes, we look at this generation and pray they can make it through the tough times. But did we ever think after graduation how we would make it or what roads would lie ahead of us.

Pray for our graduates and their futures.

THOUGHT FOR THE DAY: Life is like a bad tire, it’s only bad if you don’t know how to change it. (Author Unknown)