TL;DR
A 1991 Wall Street Journal shows just how much things have changed, from the price of a plane ticket to the performance of the NASDAQ. It highlights the power of long-term investing and reminds us that the financial world is always evolving.
Story
Imagine stepping back in time to 1991. No smartphones, no internet as we know it. Financial news? You got it from a newspaper, like the Wall Street Journal. A Reddit post shows a snapshot of the WSJ from April 1st, 1991, and it’s a fascinating time capsule. One of the biggest things that jumps out? A round-trip flight from Newark to Jacksonville, Florida for a mere $158! Today, that same flight could easily cost you three or four times as much. That’s inflation, folks. It’s like that old saying, “A dollar doesn’t buy what it used to.” Over time, things get more expensive, and your money buys less and less. That’s inflation! Now, the Reddit post also sparked a discussion about investments. Back then, the NASDAQ (a stock market index) had just started its incredible rise. If you’d invested then, you’d be sitting pretty today. One commenter joked about buying Lehman Brothers bonds… little did they know Lehman would go bankrupt in 2008, triggering a massive financial crisis. Another commenter asked about the “buy the dip” equivalent in 1991—essentially, what did investors back then consider a good deal? And finally, a comment about gold and weed being the same price per ounce in 1991 – a quirky comparison that shows just how much things have changed!
What can we learn from this blast from the past? First, inflation is a real thing. Your money’s value erodes over time. Second, long-term investing in something like the NASDAQ can pay off big time. And finally, the financial world is constantly changing. What seems like a sure thing one day can turn sour the next (like Lehman Brothers). So, keep learning, stay informed, and don’t be afraid to ask questions!
Advice
Consider long-term investments in broad market indexes like the NASDAQ. While past performance isn’t a guarantee of future results, history shows they can be a powerful way to build wealth over time.