My daughter Senay turned nineteen this week. We went out for breakfast and then did some furniture shopping, which pretty much turned into four kids lounging on every couch in the store, as if it were their living room.
I’ve also been tasked with making sure my youngest gets enough calories. He’s just too skinny. But here’s the kicker—he won’t eat hamburgers, chicken nuggets, or even macaroni and cheese. Desperate, I stopped at the gas station and grabbed him a bag of powdered donuts. He ate the whole thing in ten minutes and felt fine. If I eat a cupcake, I feel like I need to lie down.
I’m trying to get back into lifting weights. The more I look at the research, the more convinced I am that it’s one of the best things you can do for long-term health. I’m not chasing my max bench press anymore, as that ship has sailed. These days, it’s all about slow, controlled reps. I’ll post pictures of my bulging biceps when the time is right.
And finally, our new kitten, Stinky, has officially integrated into the household. His nightly routine involves biting my toes until I kick him out of my room. Then he makes the rounds, sneaking into other bedrooms and biting their toes until eventually every door in the house is closed.
If you’re reading this, chances are you’re somewhere between sixty and eighty years old. So today, let’s take a quick trip back in time—65 years—to see just how much the financial world has changed. Buckle up, and let’s head back to 1959.
Housing Then vs. Now
In 1959, the median home price was $12,500, and the median household income was around $5,400. A home cost about 2.5 times your annual income.
Today, the median U.S. home price exceeds $420,000, while the median household income is approximately $75,000. That’s more than six times your income. A staggering increase in housing cost relative to earnings.
While mortgage rates in 1959 hovered around 6%, most loans had terms of 15 to 20 years and required down payments of 40% or more. Today, most buyers stretch their mortgage out over 30 years with down payments as low as 5%, making homes seem more affordable, but often without the actual financial ability to afford them.
Do you remember how much your parents paid for their house?
Everyday Costs in 1959
Gallon of gas: 25¢ → today: about $4.00
Gallon of milk: 50¢ → today: about $4.50
Pound of ground beef: 30¢ → today: about $5.50
Loaf of bread: 20¢ → today: about $2.00
Dozen eggs: 55¢ → today: about $6.80
Movie ticket: 50¢ → today: about $12
New car: $2,500 → today: about $48,000
At first glance, those old prices seem like a dream. But don’t forget inflation.
A dollar in 1959 is worth about $10 today. That means a 30-cent hamburger would now cost about $3. That 50-cent gallon of milk would be roughly $5. A $2,500 car, adjusted for inflation, would be about $25,000, and today’s cars are safer, faster, cleaner, and full of technology.
Technology and Lifestyle
Color TVs were rare. Most homes had small black-and-white sets. 72-inch color ultra-HD plasma TVs were especially rare.
Air conditioning was considered a luxury in both cars and homes.
Telephones were landlines, often shared with neighbors on party lines.
Seatbelts weren’t standard. Airbags didn’t exist. You were five times more likely to die in a car accident than today.
First-class postage was 4 cents. Today it’s 73 cents. The minimum wage was $1 per hour. Today, the federal minimum wage is $7.25, and it's higher in many states.
Credit and Money Culture
In 1959, credit cards were still in their early stages of development. Diners Club had been around for a few years, but you were expected to pay off the balance at the end of each month. No minimum payments. No interest charges. No debt traps.
People saved money. Debt was shameful. Financial life was simpler, but not necessarily easier.
It’s tempting to look back and think everything was better. But even the wealthiest Americans in 1959 lived with far fewer comforts than the average middle-class family today.
And don’t forget, life expectancy in 1959 was just 69.7 years. Today, it’s closer to 79. That’s nearly a full decade more of retirement, time with grandchildren, and making memories.
More Things We Take for Granted Today (That Didn’t Exist in 1959)
Modern cancer treatments like immunotherapy and targeted radiation
MRIs and CT scans
Hip and knee replacements (if your joints hurt, you just had to deal with the pain)
Over-the-counter ibuprofen
Digital cameras
Microwaves (rare and wildly expensive)
Dishwashers and laundry machines (considered luxury items)
Affordable air travel for the average family
And let’s be honest- can you imagine living in Florida without air conditioning? There’s a reason the state had a relatively small population until AC became common.
So to conclude:
Do you remember the cost of your first car?
Do you remember the time you used a credit card?
Do you remember your first telephone?
Do you remember your first flight?
Do you remember the cost of your first home?
Do you remember the cost of your first car?
Be Blessed,
Dave