US govt inflation calculator
The calculator factors in changes in the consumer price index (CPI) in prices, beginning in 1913.
That was the year before the Federal Reserve System started operations.
The Federal Reserve was officially created to guarantee price stability.
Test its performance:
- type in 1000 in the beginning year box.
- click CALCULATE
- see how much money, after taxes, it would take to match $1,000 in 1913
- Note: there was no income tax in 1913
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Very few financial journalists use this tool, because they discuss investment returns from stocks,
without factoring in price inflation & income tax payments.
If you have a 401(k) or IRA retirement account, pick the year you opened it.
See what the dollar bought then compared to now.
This will help you find out how well your portfolio has done.
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http://www.bls.gov/data/inflation_calculator.htm